Laceyville, Pennsylvania Property Taxes
The median property tax rate in Laceyville, PA is 3.47%, significantly higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Laceyville at $71,425, the typical annual property tax bill reaches $2,105, which is below the national median of $2,690. Property taxes in Laceyville 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 Laceyville'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 Laceyville 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
Laceyville, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.47%
Estimate Property Tax Bill
$2,478
Ownwell’s Laceyville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Laceyville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Laceyville 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 Laceyville, Pennsylvania
Property taxes in Laceyville, Pennsylvania, are essential in funding vital local services such as public schools, road maintenance, and emergency services. The median tax rate in Laceyville is 3.47%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Laceyville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Laceyville 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 Laceyville's effective property tax rate to other areas in Bradford County and the national median. For comparison, the zip code 18623 has the highest median property tax rate of 3.47%, while the same zip code also has the lowest median tax rate of 3.47%. Understanding how these areas compare with Laceyville 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 Laceyville Tax Rate
3.47%
Average Bradford County Tax Rate
3.22%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Laceyville, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18623 | 2.01% | 2.86% | 3.47% | 3.47% | 3.47% |
Source: Ownwell
Property Tax Assessment Values Across Laceyville, Pennsylvania
In Laceyville, 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. In Laceyville, 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 Laceyville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 18623, with a median bill of $2,105.
Average Laceyville Assessed Value
$71,425
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 Laceyville, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18623 | $26,076 | $43,996 | $71,425 | $104,500 | $152,387 |
Source: Ownwell
Property Tax Bills Across Laceyville, Pennsylvania
In Laceyville, located in Bradford County, PA, property tax bills are calculated based on the assessed value of your home. The assessed value is determined by local government assessors and is a percentage of the property's market value. For homeowners in Laceyville, the median home price stands at $71,425. The property tax rate in this region is applied to the assessed value to determine the annual tax bill. For example, homeowners in the 25th percentile can expect a tax bill of around $1,412, while those in the 75th percentile might see a bill closer to $3,149. At the 90th percentile, tax bills can reach up to $4,139. These tax bills fund essential community services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, Laceyville's rates can vary significantly, affecting homeowners differently based on their property's assessed value and location within the county.
Average Laceyville Tax Bill
$2,105
Average Bradford County Tax Bill
$1,935
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Laceyville, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18623 | $786 | $1,412 | $2,105 | $3,149 | $4,139 |
Source: Ownwell