Millerton, Pennsylvania Property Taxes
The median property tax rate in Millerton, PA is 2.99%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Millerton at $76,120, the typical annual property tax bill reaches $2,169, slightly below the national median of $2,690. Property taxes in Millerton 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 Millerton'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 Millerton 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
Millerton, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.99%
Estimate Property Tax Bill
$2,276
Ownwell’s Millerton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Millerton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Millerton 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 Millerton, Pennsylvania
Property taxes in Millerton, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Millerton stands at 2.99%, significantly higher than the U.S. national median of 0.99%. Local government entities within Millerton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Millerton 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 Millerton's effective property tax rate to other areas in Pennsylvania and the national median. For comparison, the zip code 16936 has both the highest and lowest median property tax rate of 2.99%. Understanding how these areas compare with Millerton 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 Millerton Tax Rate
2.99%
Average Tioga County Tax Rate
2.81%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Millerton, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16936 | 2.57% | 2.99% | 2.99% | 2.99% | 2.99% |
Source: Ownwell
Property Tax Assessment Values Across Millerton, Pennsylvania
In Millerton, 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 Assessment 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 Millerton, 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 Millerton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Millerton is $2,169 in the 16936 zip code, while the lowest median tax bill is also $2,169 in the same zip code.
Average Millerton Assessed Value
$76,120
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 Millerton, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16936 | $23,212 | $47,280 | $76,120 | $107,242 | $157,320 |
Source: Ownwell
Property Tax Bills Across Millerton, Pennsylvania
In Millerton, property tax bills are calculated based on the assessed value of a home. The assessed value typically reflects a percentage of the market value, determined by local assessors. For homeowners in Millerton, the median home price is $76,120. Property taxes are then applied to this assessed value using the local tax rate, which in Tioga County, where Millerton is located, results in varying tax bills. Homeowners in Millerton experience a diverse range of property tax bills. At the 25th percentile, the tax bill is $1,308, while at the 75th percentile, it rises to $2,925. The top 10% of tax bills can go up to $4,049. These variations depend on factors such as property size, location, and any applicable exemptions. The highest median tax bill in the nearby zip code 16936 is $2,169, highlighting the potential tax burden for homeowners. Understanding these factors is crucial for homeowners to anticipate their annual property tax obligations and manage their finances effectively.
Average Millerton Tax Bill
$2,169
Average Tioga County Tax Bill
$1,960
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Millerton, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16936 | $640 | $1,308 | $2,169 | $2,925 | $4,049 |
Source: Ownwell