Venango, Pennsylvania Property Taxes
The median property tax rate in Venango, PA is 5.85%, significantly higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With a median home value of $20,701 in Venango, the typical annual property tax bill reaches $1,265, which is below the national median of $2,690. Property taxes in Venango are calculated based on the assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Venango'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 Venango 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
Venango, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
5.85%
Estimate Property Tax Bill
$1,211
Ownwell’s Venango Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Venango with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Venango 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 Venango, Pennsylvania
Property taxes in Venango, Pennsylvania, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Venango is 5.85%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Venango set these rates annually, and they can vary significantly across different neighborhoods. Each year, Venango 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 Venango's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 16440 zip code has the highest median property tax rate of 5.85%, while the same zip code also has the lowest median tax rate of 5.85%. Understanding how these cities compare with Venango provides valuable insights into the varying tax landscape across Crawford County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Venango Tax Rate
5.85%
Average Crawford County Tax Rate
5.74%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Venango, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16440 | 5.71% | 5.72% | 5.85% | 6.11% | 6.26% |
Source: Ownwell
Property Tax Assessment Values Across Venango, Pennsylvania
In Venango, 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 Crawford 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 Venango, 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 Venango helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Venango is $1,265 in the 16440 zip code, while the lowest is also $1,265 in the same zip code, providing a clear picture of the property tax landscape in this area.
Average Venango Assessed Value
$20,701
Average Crawford County Assessed Value
$26,552
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Venango, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16440 | $8,100 | $13,500 | $20,701 | $35,772 | $50,198 |
Source: Ownwell
Property Tax Bills Across Venango, Pennsylvania
In Venango, property tax bills are calculated based on the assessed value of the property, which is a percentage of its market value. The local tax rate, known as the millage rate, is then applied to this assessed value to determine the annual tax bill. Several factors influence the final tax amount, including property size, location, and any applicable exemptions or deductions. For homeowners in Venango, the median home price is $20,701. Property tax bills can vary significantly; the 25th percentile tax bill is $807, while the 75th percentile reaches $2,079. At the 90th percentile, the tax bill can be as high as $2,989. Comparatively, the highest median tax bill in the county is $1,265 in zip code 16440, which highlights the variability within the region. Understanding these factors is crucial for homeowners, as property taxes can significantly impact annual expenses. By knowing how these elements interact, homeowners can better anticipate their financial obligations and plan accordingly.
Average Venango Tax Bill
$1,265
Average Crawford County Tax Bill
$1,304
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Venango, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16440 | $462 | $807 | $1,265 | $2,079 | $2,989 |
Source: Ownwell