Sugar Run, Pennsylvania Property Taxes
The median property tax rate in Sugar Run, PA is 3.55%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Sugar Run, the typical annual property tax bill reaches $1,892, which is below the national median of $2,690. Property taxes in Sugar Run 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 Sugar Run'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 Sugar Run 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
Sugar Run, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.55%
Estimate Property Tax Bill
$2,279
Ownwell’s Sugar Run Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sugar Run with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sugar Run 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 Sugar Run, Pennsylvania
Property taxes in Sugar Run, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sugar Run is 3.55%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Sugar Run set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sugar Run 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 Sugar Run's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 18846 zip code has the highest median property tax rate of 3.55%, while the same zip code also has the lowest median tax rate of 3.55%. Understanding how these cities compare with Sugar Run 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 Sugar Run Tax Rate
3.55%
Average Bradford County Tax Rate
3.22%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sugar Run, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18846 | 1.88% | 2.71% | 3.55% | 3.55% | 3.55% |
Source: Ownwell
Property Tax Assessment Values Across Sugar Run, Pennsylvania
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Sugar Run, Pennsylvania. The market value represents 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 Sugar Run, 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Sugar Run are both $1,892, found in the zip code 18846.
Average Sugar Run Assessed Value
$64,210
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 Sugar Run, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18846 | $13,784 | $29,400 | $64,210 | $107,153 | $151,090 |
Source: Ownwell
Property Tax Bills Across Sugar Run, Pennsylvania
Property tax bills in Sugar Run, located in Bradford County, PA, are calculated based on the assessed value of a property, which is determined by local assessors. This value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Sugar Run, the median home price is $64,210. The tax rate in this region results in a median tax bill of approximately $1,892. This figure is significantly higher than the national median property tax rate of 0.99%. The tax bill can vary widely depending on the specific assessed value of a property. For instance, at the 25th percentile, homeowners might pay around $952, while those in the 75th percentile could see bills as high as $2,939. At the 90th percentile, tax bills can reach up to $4,168. These variations highlight how property values and local tax rates can significantly impact the financial obligations of homeowners, influencing their overall cost of living and financial planning.
Average Sugar Run Tax Bill
$1,892
Average Bradford County Tax Bill
$1,935
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Sugar Run, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18846 | $435 | $952 | $1,892 | $2,939 | $4,168 |
Source: Ownwell