Rome, Pennsylvania Property Taxes
The median property tax rate in Rome, PA is 2.87%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Rome, the typical annual property tax bill reaches $1,547, exceeding the national median of $2,690. Property taxes in Rome 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 Rome'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 Rome 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
Rome, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.87%
Estimate Property Tax Bill
$1,726
Ownwell’s Rome Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Rome using just two data points. By inputting your property's estimated assessed value, the calculator applies the median tax rate in Rome to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available below. Your property’s assessed value is the value assigned by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Rome, Pennsylvania
Property taxes in Rome, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Rome is 2.87%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Rome set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rome 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 Rome's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 18837 zip code has the highest median property tax rate of 2.87%, while the same zip code also has the lowest median tax rate of 2.87%. Understanding how these areas compare with Rome 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 Rome Tax Rate
2.87%
Average Bradford County Tax Rate
3.22%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rome, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18837 | 1.74% | 2.28% | 2.87% | 2.89% | 2.95% |
Source: Ownwell
Property Tax Assessment Values Across Rome, Pennsylvania
In Rome, 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 Rome, 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 Rome helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $1547 in the 18837 zip code, while the lowest is also $1547 in the same zip code.
Average Rome Assessed Value
$60,130
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 Rome, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18837 | $19,484 | $36,611 | $60,130 | $93,877 | $135,677 |
Source: Ownwell
Property Tax Bills Across Rome, Pennsylvania
Property tax bills in Rome, PA, are calculated based on the assessed value of a property, which is determined by local government assessors. These assessors evaluate various factors, including the property's size, location, and condition, to establish its assessed value. The tax rate, or millage rate, is then applied to this assessed value to determine the annual property tax bill. Homeowners in Rome, PA, can expect varying tax bills depending on their property's assessed value. For instance, the 25th percentile tax bill is around $998, while the 75th percentile tax bill reaches approximately $2,223. At the higher end, the 90th percentile tax bill can be as much as $3,061. These property tax bills significantly impact homeowners by contributing to local services such as schools, infrastructure, and emergency services. Compared to the national median property tax rate of 0.99%, Rome's property taxes can be relatively high, reflecting the community's investment in maintaining and improving local amenities and services.
Average Rome Tax Bill
$1,547
Average Bradford County Tax Bill
$1,935
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Rome, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18837 | $491 | $998 | $1,547 | $2,223 | $3,061 |
Source: Ownwell