Knoxville, Pennsylvania Property Taxes
The median property tax rate in Knoxville, PA is 2.79%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Knoxville at $57,545, the typical annual property tax bill reaches $1,687, exceeding the national median of $2,690. Property taxes in Knoxville are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Knoxville's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Knoxville or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Knoxville, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.79%
Estimate Property Tax Bill
$1,606
Ownwell’s Knoxville Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Knoxville using just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Knoxville to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Knoxville, Pennsylvania
Property taxes in Knoxville, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Knoxville is 2.79%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Knoxville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Knoxville estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Knoxville's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the zip code 16928 has both the highest and lowest median property tax rate of 2.79%. Understanding how these cities compare with Knoxville provides valuable insights into the varying tax landscape across Tioga County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Knoxville Tax Rate
2.79%
Average Tioga County Tax Rate
2.81%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Knoxville, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16928 | 2.14% | 2.79% | 2.79% | 3.24% | 3.24% |
Source: Ownwell
Property Tax Assessment Values Across Knoxville, Pennsylvania
In Knoxville, Pennsylvania, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Tioga County Assessor's Office for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Knoxville, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Knoxville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 16928 has both the highest and lowest median tax bill at $1,687.
Average Knoxville Assessed Value
$57,545
Average Tioga County Assessed Value
$70,440
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Knoxville, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16928 | $20,679 | $37,542 | $57,545 | $97,790 | $141,242 |
Source: Ownwell
Property Tax Bills Across Knoxville, Pennsylvania
In Knoxville, Tioga County, PA, property tax bills are calculated based on the assessed value of a home, which is determined by the county's assessment office. The assessed value is typically a percentage of the property's market value. Homeowners in Knoxville face property tax bills that vary significantly. For instance, those in the 25th percentile pay around $1,110 annually, while those in the 75th percentile see bills closer to $2,590. At the 90th percentile, the tax bill can reach up to $3,468. These tax amounts are influenced by factors such as the property's location, size, and any improvements made. The local tax rate, which is applied to the assessed value, also plays a crucial role. Compared to the national median property tax rate of 0.99%, Knoxville's property taxes can be substantial, impacting homeowners' financial planning and the overall cost of owning a home. Homeowners must stay informed about their property's assessed value and any changes in local tax rates to manage their tax obligations effectively.
Average Knoxville Tax Bill
$1,687
Average Tioga County Tax Bill
$1,960
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Knoxville, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16928 | $577 | $1,110 | $1,687 | $2,590 | $3,468 |
Source: Ownwell