Tipton, Pennsylvania Property Taxes
The median property tax rate in Tipton, PA is 1.49%, considerably higher than the national median of 0.99% but lower than the Pennsylvania state median of 2.81%. With the median home value in Tipton at $13,300, the typical annual property tax bill reaches $198, which is significantly below the national median of $2,690. Property taxes in Tipton 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 Tipton'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 Tipton 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
Tipton, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.49%
Estimate Property Tax Bill
$198
Ownwell’s Tipton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tipton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tipton 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 Tipton, Pennsylvania
Property taxes in Tipton, Pennsylvania, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Tipton is 1.49%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Tipton set these rates annually, and they can vary across different neighborhoods. Each year, Tipton 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 Tipton's effective property tax rate to other areas in Pennsylvania and the national median. For comparison, the zip code 16684 has the highest median property tax rate of 1.49%, while the lowest median tax rate is also 1.49% in the same zip code. Understanding how these areas compare with Tipton provides valuable insights into the varying tax landscape across Blair County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Tipton Tax Rate
1.49%
Average Blair County Tax Rate
1.57%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tipton, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16684 | 1.49% | 1.49% | 1.49% | 1.49% | 1.49% |
Source: Ownwell
Property Tax Assessment Values Across Tipton, Pennsylvania
In Tipton, 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 Blair 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 Tipton, 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 Tipton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 16684, with a bill of $198.00, while the lowest median tax bill is also in zip code 16684, at $198.00.
Average Tipton Assessed Value
$13,300
Average Blair County Assessed Value
$113,500
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Tipton, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16684 | $1,960 | $2,400 | $13,300 | $142,600 | $188,300 |
Source: Ownwell
Property Tax Bills Across Tipton, Pennsylvania
In Tipton, Blair County, PA, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is then multiplied by the local tax rate to determine the total tax bill. The median home price in Tipton is $13,300, which significantly impacts the tax bills residents face. For instance, the 25th percentile tax bill is just $36, while the 75th percentile tax bill rises to $2,120, and the 90th percentile tax bill reaches $2,799. These variations highlight the influence of property value and tax rates on homeowners' annual financial obligations. Compared to the national median property tax rate of 0.99%, Tipton’s tax bills can be relatively low for some properties but can also reach substantial amounts for higher-valued homes. Understanding these factors helps homeowners anticipate their tax responsibilities and manage their budgets more effectively.
Average Tipton Tax Bill
$198
Average Blair County Tax Bill
$1,685
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Tipton, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16684 | $29 | $36 | $198 | $2,120 | $2,799 |
Source: Ownwell