Millmont, Pennsylvania Property Taxes
The median property tax rate in Millmont, PA is 2.07%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Millmont, the typical annual property tax bill reaches $1,185, exceeding the national median of $2,690. Property taxes in Millmont 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 Millmont'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 Millmont 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
Millmont, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.07%
Estimate Property Tax Bill
$1,192
Ownwell’s Millmont Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Millmont with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Millmont 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 Millmont, Pennsylvania
Property taxes in Millmont, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Millmont is 2.07%, significantly higher than the U.S. national median of 0.99%. Local government entities within Millmont set these rates annually, and they can vary significantly across different neighborhoods. Each year, Millmont 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 Millmont's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 17845 zip code has the highest median property tax rate of 2.07%, while the 17845 zip code also has the lowest median tax rate of 2.07%. Understanding how these areas compare with Millmont provides valuable insights into the varying tax landscape across Union County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Millmont Tax Rate
2.07%
Average Union County Tax Rate
2.00%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Millmont, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17845 | 1.30% | 1.97% | 2.07% | 2.07% | 2.07% |
Source: Ownwell
Property Tax Assessment Values Across Millmont, Pennsylvania
In Millmont, 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 Union 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 Millmont, 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. For example, the median home price in Millmont is $57,600, with tax bills ranging from $634 at the 25th percentile to $4,178 at the 90th percentile. 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 Millmont helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Millmont Assessed Value
$57,600
Average Union County Assessed Value
$93,150
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Millmont, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17845 | $9,800 | $30,600 | $57,600 | $124,200 | $319,620 |
Source: Ownwell
Property Tax Bills Across Millmont, Pennsylvania
In Millmont, Union County, PA, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The median home price in this area is $57,600. The assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Factors such as the property's location, size, and condition significantly influence the assessed value. For homeowners in Millmont, the 25th percentile tax bill is around $634, while the 75th percentile tax bill reaches $2,134, and the 90th percentile tax bill can be as high as $4,178. Comparatively, the highest and lowest median tax bills in the area are both $1,185, indicating a stable range within the zip code 17845. These property taxes fund essential community services such as schools, public safety, and infrastructure, directly impacting the quality of life for residents. Homeowners must budget for these taxes, as they are a recurring annual expense.
Average Millmont Tax Bill
$1,185
Average Union County Tax Bill
$1,656
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Millmont, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17845 | $203 | $634 | $1,185 | $2,134 | $4,178 |
Source: Ownwell