Franklintown, Pennsylvania Property Taxes
The median property tax rate in Franklintown, PA is 2.83%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Franklintown, the typical annual property tax bill reaches $2,767, slightly exceeding the national median of $2,690. Property taxes in Franklintown 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 Franklintown'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 Franklintown 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
Franklintown, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.83%
Estimate Property Tax Bill
$2,770
Ownwell’s FRANKLINTOWN Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in FRANKLINTOWN with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in FRANKLINTOWN 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 Franklintown, Pennsylvania
Property taxes in Franklintown, Pennsylvania, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Franklintown is 1.46%, higher than both the Pennsylvania state median of 1.35% and the U.S. national median of 0.99%. Local government entities within Franklintown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Franklintown 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 Franklintown's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 17323 zip code has the highest median property tax rate of 1.46%, while the same zip code also has the lowest median tax rate of 1.46%. Understanding how these cities compare with Franklintown provides valuable insights into the varying tax landscape across York County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Franklintown Tax Rate
2.83%
Average York County Tax Rate
3.29%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Franklintown, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17323 | 2.83% | 2.83% | 2.83% | 2.83% | 2.83% |
Source: Ownwell
Property Tax Assessment Values Across Franklintown, Pennsylvania
In Franklintown, 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 York 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 Franklintown, 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. The median home price in Franklintown is $97,880, with the 25th percentile tax bill at $2,082 and the 75th percentile tax bill at $3,518. The highest and lowest median tax bill is $2,767 in the 17323 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Franklintown, Pennsylvania
Source: Ownwell
$38,185
$150,108
$262,030
Average Franklintown Assessed Value
$97,880
Average York County Assessed Value
$130,990
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Franklintown, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17323 | $62,985 | $73,645 | $97,880 | $124,448 | $143,690 |
Source: Ownwell
Property Tax Bills Across Franklintown, Pennsylvania
In Franklintown, property tax bills are determined by assessing the market value of a home and then applying the local tax rate to that assessed value. The median home price in Franklintown is $97,880. Homeowners in this area can expect their tax bills to vary significantly. For instance, the tax bill at the 25th percentile is $2,082, while at the 75th percentile, it rises to $3,518. At the 90th percentile, tax bills can reach up to $4,062. These variations depend on the home's assessed value and the applicable tax rate in York County. Compared to the national median property tax rate of 0.99%, Franklintown's tax rates may appear higher, impacting homeowners by increasing their annual expenses. This higher tax burden can influence decisions on home purchases and overall affordability. Understanding these factors helps homeowners plan better for their financial commitments and anticipate their annual property tax bills more accurately.
Average Franklintown Tax Bill
$2,767
Average York County Tax Bill
$4,203
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Franklintown, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17323 | $1,780 | $2,082 | $2,767 | $3,518 | $4,062 |
Source: Ownwell