Lock Haven, Pennsylvania Property Taxes
The median property tax rate in Lock Haven, PA is 2.14%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Lock Haven at $73,000, the typical annual property tax bill reaches $1,792, exceeding the national median of $2,690. Property taxes in Lock Haven 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 Lock Haven'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 Lock Haven 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
Lock Haven, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.14%
Estimate Property Tax Bill
$1,562
Ownwell’s LOCK HAVEN Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in LOCK HAVEN with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in LOCK HAVEN 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 Lock Haven, Pennsylvania
Property taxes in Lock Haven, Pennsylvania, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lock Haven is 2.14%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Lock Haven set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lock Haven 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 Lock Haven's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 17745 zip code has the highest median property tax rate of 2.14%, while the same zip code also has the lowest median tax rate of 2.14%. Understanding how these cities compare with Lock Haven provides valuable insights into the varying tax landscape across Clinton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lock Haven Tax Rate
2.14%
Average Clinton County Tax Rate
2.04%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lock Haven, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17745 | 1.96% | 2.01% | 2.14% | 2.86% | 3.07% |
Source: Ownwell
Property Tax Assessment Values Across Lock Haven, Pennsylvania
In Lock Haven, 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 Clinton 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 Lock Haven, 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 Lock Haven is $73,000, with tax bills ranging from $887 at the 25th percentile to $3,860 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 Lock Haven helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Lock Haven, Pennsylvania
Source: Ownwell
$22,900
$149,700
$276,500
Average Lock Haven Assessed Value
$73,000
Average Clinton County Assessed Value
$57,200
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lock Haven, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17745 | $17,190 | $38,975 | $73,000 | $110,900 | $161,240 |
Source: Ownwell
Property Tax Bills Across Lock Haven, Pennsylvania
In Lock Haven, Clinton County, PA, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor and is typically a percentage of the property's market value. For homeowners, this means that a higher market value will result in a higher assessed value and, consequently, a higher tax bill. For instance, with a median home price of $73,000, homeowners can expect varying tax bills. The tax bill at the 25th percentile is $887, while at the 75th percentile, it rises to $2,656. For those at the 90th percentile, the tax bill can reach up to $3,860. These figures highlight the range of property tax burdens within the area, influenced by property values and the local tax rate. Compared to the national median property tax rate of 0.99%, homeowners in Lock Haven may find their tax bills to be relatively moderate, although individual experiences can vary significantly based on their property's assessed value.
Average Lock Haven Tax Bill
$1,792
Average Clinton County Tax Bill
$1,228
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Lock Haven, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17745 | $361 | $887 | $1,792 | $2,656 | $3,860 |
Source: Ownwell