Madisonburg, Pennsylvania Property Taxes
The median property tax rate in Madisonburg, PA is 3.07%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Madisonburg at $75,085, the typical annual property tax bill reaches $2,304, which is below the national median of $2,690. Property taxes in Madisonburg 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 Madisonburg'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 Madisonburg 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
Madisonburg, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.07%
Estimate Property Tax Bill
$2,305
Ownwell’s Madisonburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Madisonburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Madisonburg 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 Madisonburg, Pennsylvania
Property taxes in Madisonburg, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Madisonburg is 3.07%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Madisonburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Madisonburg 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 Madisonburg's effective property tax rate to other areas in Centre County and the national median. For comparison, the zip code 16852 has the highest median property tax rate of 3.07%, while the same zip code also has the lowest median tax rate of 3.07%. Understanding how these areas compare with Madisonburg provides valuable insights into the varying tax landscape across Centre County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Madisonburg Tax Rate
3.07%
Average Centre County Tax Rate
3.13%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Madisonburg, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16852 | 3.07% | 3.07% | 3.07% | 3.07% | 3.07% |
Source: Ownwell
Property Tax Assessment Values Across Madisonburg, Pennsylvania
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Madisonburg, PA. 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 Centre 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 Madisonburg, 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. For instance, the median home price in Madisonburg is $75,085, with tax bills ranging from $1,670 at the 25th percentile to $5,732 at the 90th percentile. 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 Madisonburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Madisonburg, Pennsylvania
Source: Ownwell
$21,600
$82,845
$144,090
Average Madisonburg Assessed Value
$75,085
Average Centre County Assessed Value
$97,340
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Madisonburg, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16852 | $22,140 | $54,402 | $75,085 | $100,338 | $186,695 |
Source: Ownwell
Property Tax Bills Across Madisonburg, Pennsylvania
In Madisonburg, located in Centre County, PA, property tax bills are calculated based on the assessed value of your home and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of your property. Once the home’s assessed value is established, it is multiplied by the local tax rate to determine the annual property tax bill. For instance, the median home price in Madisonburg is $75,085. Homeowners in the 25th percentile can expect a tax bill around $1,670, while those in the 75th percentile might see a bill closer to $3,080. At the 90th percentile, the tax burden can rise to approximately $5,732. These property taxes fund essential public services such as schools, infrastructure, and emergency services, significantly impacting homeowners' finances. Compared to the national median property tax rate of 0.99%, Madisonburg's tax rates can be quite substantial, especially for higher-valued properties. Homeowners should stay informed about their property’s assessed value and any changes in local tax rates to manage their tax obligations effectively.
Average Madisonburg Tax Bill
$2,304
Average Centre County Tax Bill
$3,173
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Madisonburg, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16852 | $680 | $1,670 | $2,304 | $3,080 | $5,732 |
Source: Ownwell