Forksville, Pennsylvania Property Taxes
The median property tax rate in Forksville, PA is 3.34%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Forksville at $35,550, the typical annual property tax bill reaches $1,188, exceeding the national median of $2,690. Property taxes in Forksville 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 Forksville'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 Forksville 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
Forksville, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.34%
Estimate Property Tax Bill
$1,187
Ownwell’s Forksville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Forksville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Forksville 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 Forksville, Pennsylvania
Property taxes in Forksville, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Forksville 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 Forksville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Forksville 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 Forksville's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 18616 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 areas compare with Forksville provides valuable insights into the varying tax landscape across Bradford County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Forksville Tax Rate
3.34%
Average Bradford County Tax Rate
3.22%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Forksville, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18616 | 3.34% | 3.34% | 3.34% | 3.34% | 3.34% |
Source: Ownwell
Property Tax Assessment Values Across Forksville, Pennsylvania
In Forksville, 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 Bradford 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. 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 Forksville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in the area are both $1188, found in zip code 18616.
Average Forksville Assessed Value
$35,550
Average Bradford County Assessed Value
$61,590
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Forksville, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18616 | $25,485 | $31,249 | $35,550 | $59,053 | $67,259 |
Source: Ownwell
Property Tax Bills Across Forksville, Pennsylvania
In Forksville, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as the home's size, location, and condition play a crucial role in the assessment process. For homeowners in Forksville, the median home price stands at $35,550. Property tax bills in Forksville vary significantly, with the 25th percentile tax bill at $1,044 and the 75th percentile reaching $1,973. At the higher end, the 90th percentile tax bill is $2,247. Compared to the national median property tax rate of 0.99%, Forksville's tax rate can be seen in the context of its relatively lower home values. Homeowners in the area with the highest median tax bill pay around $1,188 annually, which is consistent across the zip code 18616. These taxes fund essential community services, impacting the quality of local schools, infrastructure, and public safety.
Average Forksville Tax Bill
$1,188
Average Bradford County Tax Bill
$1,935
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Forksville, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18616 | $743 | $1,044 | $1,188 | $1,973 | $2,247 |
Source: Ownwell