Port Matilda, Pennsylvania Property Taxes
The median property tax rate in Port Matilda, PA is 3.25%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Port Matilda, the typical annual property tax bill reaches $4,433, exceeding the national median of $2,690. Property taxes in Port Matilda 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 Port Matilda'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 Port Matilda 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
Port Matilda, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.25%
Estimate Property Tax Bill
$4,481
Ownwell’s Port Matilda Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Port Matilda with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Port Matilda 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 Port Matilda, Pennsylvania
Property taxes in Port Matilda, Pennsylvania, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Port Matilda is 3.25%, significantly higher than the U.S. national median of 0.99%. Local government entities within Port Matilda set these rates annually, and they can vary significantly across different neighborhoods. Each year, Port Matilda 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 Port Matilda's effective property tax rate to other areas in Pennsylvania and the national median. For comparison, the 16870 zip code has the highest median property tax rate of 3.25%, while the same zip code also has the lowest median tax rate of 3.25%. Understanding how these cities compare with Port Matilda 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 Port Matilda Tax Rate
3.25%
Average Centre County Tax Rate
3.13%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Port Matilda, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16870 | 3.19% | 3.19% | 3.25% | 3.25% | 3.59% |
Source: Ownwell
Property Tax Assessment Values Across Port Matilda, Pennsylvania
In Port Matilda, 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 Port Matilda, 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 Port Matilda helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 16870, valued at $4433, while the lowest median tax bill is also in the same zip code, indicating uniformity in tax assessments.
Property Tax Assessment Values Across Port Matilda, Pennsylvania
Source: Ownwell
$21,600
$82,845
$144,090
Average Port Matilda Assessed Value
$137,880
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 Port Matilda, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16870 | $43,827 | $83,888 | $137,880 | $202,490 | $295,841 |
Source: Ownwell
Property Tax Bills Across Port Matilda, Pennsylvania
In Port Matilda, Centre County, PA, property tax bills are calculated based on the assessed value of a home, which is often a percentage of its market value. The median home price in Port Matilda is $137,880, and the tax rate is applied to this assessed value to determine the annual tax bill. Factors such as property location, size, and any improvements can influence the assessed value. Homeowners in Port Matilda can expect tax bills to vary significantly. The 25th percentile tax bill is $2,582, while the 75th percentile reaches $6,550, and the 90th percentile can be as high as $9,613. This variability means that homeowners might pay more or less than the national median property tax rate of 0.99%, depending on their property's assessed value and specific characteristics. Understanding these factors helps homeowners anticipate their property tax obligations and plan their finances accordingly.
Average Port Matilda Tax Bill
$4,433
Average Centre County Tax Bill
$3,173
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Port Matilda, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16870 | $1,477 | $2,582 | $4,433 | $6,550 | $9,613 |
Source: Ownwell