Penfield, Pennsylvania Property Taxes
The median property tax rate in Penfield, PA is 0.25%, significantly lower than both the national median of 0.99% and Pennsylvania's state median of 2.81%. With a median home value of $45,455 in Penfield, the typical annual property tax bill is $112, well below the national median of $2,690. Property taxes in Penfield are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, including primary residence and agricultural exemptions. Understanding Penfield's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Penfield or another part of Clearfield County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Penfield, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.25%
Estimate Property Tax Bill
$114
Ownwell’s Penfield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Penfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Penfield 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 Penfield, Pennsylvania
Property taxes in Penfield, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Penfield is 0.25%, significantly lower than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Penfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Penfield 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 Penfield's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the highest median property tax rate in the state is 2.15% in some areas, while the lowest median tax rate is 0.18%. Understanding how these cities compare with Penfield provides valuable insights into the varying tax landscape across Clearfield County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Penfield Tax Rate
0.25%
Average Clearfield County Tax Rate
0.25%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Penfield, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15849 | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% |
Source: Ownwell
Property Tax Assessment Values Across Penfield, Pennsylvania
In Penfield, 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 Clearfield 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 Penfield, 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 Penfield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills are both $112.00, found in the zip code 15849.
Average Penfield Assessed Value
$45,455
Average Clearfield County Assessed Value
$86,111
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Penfield, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15849 | $9,091 | $20,202 | $45,455 | $94,445 | $141,060 |
Source: Ownwell
Property Tax Bills Across Penfield, Pennsylvania
Property tax bills in Penfield, located in Clearfield County, PA, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the local assessor's office and is often a percentage of the property's market value. In Penfield, the median home price stands at $45,455. The tax rate is applied to this assessed value to determine the annual property tax bill. Several factors influence the tax bill, including the property's location, size, and any applicable exemptions. For instance, properties in the 25th percentile have tax bills around $50, while those in the 75th percentile see bills closer to $234. At the 90th percentile, homeowners can expect to pay about $349 annually. The highest and lowest median tax bills in the area are both $112, indicating some consistency in tax assessments. These property taxes fund essential local services such as schools, infrastructure, and public safety, directly impacting the community's quality of life. Homeowners should be aware of their property's assessed value and any potential exemptions to manage their tax obligations effectively.
Average Penfield Tax Bill
$112
Average Clearfield County Tax Bill
$214
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Penfield, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15849 | $22 | $50 | $112 | $234 | $349 |
Source: Ownwell