Lamartine, Pennsylvania Property Taxes
The median property tax rate in Lamartine, PA is 7.76%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Lamartine being $15,020, the typical annual property tax bill reaches $1,165, exceeding the national median of $2,690. Property taxes in Lamartine 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 Lamartine'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 Lamartine 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
Lamartine, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
7.76%
Estimate Property Tax Bill
$1,166
Ownwell’s Lamartine Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lamartine with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lamartine 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 Lamartine, Pennsylvania
Property taxes in Lamartine, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lamartine is 7.76%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Lamartine set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lamartine 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 Lamartine's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the zip code 16375 has the highest median property tax rate of 7.76%, while the same zip code also has the lowest median tax rate of 7.76%. Understanding how these areas compare with Lamartine provides valuable insights into the varying tax landscape across Clarion County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lamartine Tax Rate
7.76%
Average Clarion County Tax Rate
8.04%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lamartine, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16375 | 7.76% | 7.76% | 7.76% | 7.76% | 7.76% |
Source: Ownwell
Property Tax Assessment Values Across Lamartine, Pennsylvania
In Lamartine, 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 Clarion 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 Lamartine, 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. The median home price in Lamartine is $15,020, with the median tax bill at $1,165. Notably, the zip code 16375 has both the highest and lowest median tax bills at $1,165. By understanding 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.
Average Lamartine Assessed Value
$15,020
Average Clarion County Assessed Value
$13,522
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lamartine, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16375 | $15,020 | $15,020 | $15,020 | $15,020 | $15,020 |
Source: Ownwell
Property Tax Bills Across Lamartine, Pennsylvania
In Lamartine, Clarion County, PA, property tax bills are calculated based on the assessed value of a homeowner's property. The assessed value is determined by the local tax assessor and reflects the market value of the property. Homeowners in Lamartine experience a consistent property tax bill, with the 25th, 75th, and 90th percentiles all reporting a tax bill of $1,165. This uniformity indicates a standardized approach in tax assessments within the area. Factors influencing the tax bill include the property's assessed value and the local tax rate. The median home price in Lamartine is $15,020, which, when subjected to the local tax rate, results in the aforementioned tax bill. Compared to the national median property tax rate of 0.99%, Lamartine's tax rate ensures a relatively predictable financial obligation for homeowners. This consistency in tax bills can significantly impact homeowners by providing a stable expectation of annual property tax expenses, aiding in better financial planning and budgeting.
Average Lamartine Tax Bill
$1,165
Average Clarion County Tax Bill
$1,119
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Lamartine, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16375 | $1,165 | $1,165 | $1,165 | $1,165 | $1,165 |
Source: Ownwell