Martinsburg, Pennsylvania Property Taxes
The median property tax rate in Martinsburg, PA is 1.32%, which is higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With a median home value in Martinsburg, the typical annual property tax bill reaches $1,662, still below the national median of $2,690. Property taxes in Martinsburg are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Martinsburg'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 Martinsburg 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
Martinsburg, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.32%
Estimate Property Tax Bill
$1,848
Ownwell’s Martinsburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Martinsburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Martinsburg 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 Martinsburg, Pennsylvania
Property taxes in Martinsburg, Pennsylvania, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Martinsburg is 1.32%, higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Martinsburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Martinsburg 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 Martinsburg's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 16662 zip code has the highest median property tax rate of 1.32%, while the 16662 zip code has the lowest median tax rate of 1.32%. Understanding how these cities compare with Martinsburg provides valuable insights into the varying tax landscape across Bedford County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Martinsburg Tax Rate
1.32%
Average Bedford County Tax Rate
1.45%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Martinsburg, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16662 | 0.73% | 1.32% | 1.32% | 1.32% | 1.33% |
Source: Ownwell
Property Tax Assessment Values Across Martinsburg, Pennsylvania
In Martinsburg, 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 Bedford 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 Martinsburg, 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 Martinsburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Martinsburg is $140,000, with the highest and lowest median tax bills both being $1,662 in the 16662 zip code.
Property Tax Assessment Values Across Martinsburg, Pennsylvania
Source: Ownwell
$11,700
$106,750
$201,800
Average Martinsburg Assessed Value
$140,000
Average Bedford County Assessed Value
$101,200
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Martinsburg, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16662 | $37,600 | $75,700 | $140,000 | $237,400 | $446,200 |
Source: Ownwell
Property Tax Bills Across Martinsburg, Pennsylvania
In Martinsburg, PA, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is then multiplied by the local property tax rate to generate the annual tax bill. For example, with a median home price of $140,000 in Martinsburg, homeowners can expect varying tax bills. At the 25th percentile, the tax bill is around $911, while at the 75th percentile, it rises to $2,708. The 90th percentile sees tax bills reaching up to $4,253. Several factors influence the assessed value, including the home's market value, location, and any improvements or renovations. These property taxes are essential for funding local services such as schools, emergency services, and infrastructure. Compared to the national median property tax rate of 0.99%, the rates in Martinsburg can significantly impact homeowners, especially those with properties assessed at higher values. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Martinsburg Tax Bill
$1,662
Average Bedford County Tax Bill
$1,429
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Martinsburg, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16662 | $510 | $911 | $1,662 | $2,708 | $4,253 |
Source: Ownwell