Millheim, Pennsylvania Property Taxes
The median property tax rate in Millheim, PA is 3.10%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Millheim at $70,790, the typical annual property tax bill reaches $2,194, which is still below the national median of $2,690. Property taxes in Millheim 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 Millheim'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 Millheim or another part of Centre County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Millheim, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.1%
Estimate Property Tax Bill
$2,194
Ownwell’s Millheim Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Millheim with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Millheim 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 Millheim, Pennsylvania
Property taxes in Millheim, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Millheim 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 Millheim set these rates annually, and they can vary significantly across different neighborhoods. Each year, Millheim 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 Millheim's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the zip code 16854 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 cities compare with Millheim 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 Millheim Tax Rate
3.10%
Average Centre County Tax Rate
3.13%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Millheim, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16854 | 3.10% | 3.10% | 3.10% | 3.10% | 3.10% |
Source: Ownwell
Property Tax Assessment Values Across Millheim, Pennsylvania
In Millheim, 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 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 Millheim, 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 Millheim helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 16854 has the highest and lowest median tax bill, both at $2,194.
Average Millheim Assessed Value
$70,790
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 Millheim, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16854 | $39,988 | $55,120 | $70,790 | $93,720 | $132,128 |
Source: Ownwell
Property Tax Bills Across Millheim, Pennsylvania
In Millheim, Centre County, PA, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. The assessed value is a percentage of the home's market value. Homeowners in Millheim can expect their tax bills to vary significantly, influenced by the assessed value and the local tax rate. For example, the median home price in Millheim is $70,790, resulting in a median tax bill of around $2,194. This is considerably higher than the national median property tax rate of 0.99%. Factors such as property size, location, and condition play a crucial role in determining the assessed value. Tax bills can range widely, with the 25th percentile at $1,711 and the 75th percentile at $2,902, reaching up to $4,104 at the 90th percentile. These property taxes are essential for funding local services but can significantly impact homeowners' annual expenses, making it crucial to understand and potentially appeal assessed values to ensure fair taxation.
Average Millheim Tax Bill
$2,194
Average Centre County Tax Bill
$3,173
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Millheim, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16854 | $1,242 | $1,711 | $2,194 | $2,902 | $4,104 |
Source: Ownwell