James City, Pennsylvania Property Taxes
The median property tax rate in James City, PA is 3.06%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in James City, the typical annual property tax bill reaches $900, which is lower than the national median of $2,690. Property taxes in James City 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 James City'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 James City 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
James City, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.06%
Estimate Property Tax Bill
$900
Ownwell’s James City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in James City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in James City 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 James City, Pennsylvania
Property taxes in James City, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in James City is 1.50%, significantly higher than both the Pennsylvania state median of 1.46% and the U.S. national median of 0.99%. Local government entities within James City set these rates annually, and they can vary significantly across different neighborhoods. Each year, James City 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 James City's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 16734 zip code has the highest median property tax rate of 1.50%, while the same zip code also has the lowest median tax rate of 1.50%. Understanding how these areas compare with James City provides valuable insights into the varying tax landscape across Elk County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average James City Tax Rate
3.06%
Average Elk County Tax Rate
3.06%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across James City, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16734 | 3.06% | 3.06% | 3.06% | 3.06% | 3.06% |
Source: Ownwell
Property Tax Assessment Values Across James City, Pennsylvania
In James City, 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 local appraisal district 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 James City, 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 James City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $900.00 in the 16734 zip code, while the lowest median tax bill is also $900.00 in the same zip code.
Average James City Assessed Value
$29,400
Average Elk County Assessed Value
$39,300
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across James City, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16734 | $1,800 | $7,075 | $29,400 | $37,725 | $50,880 |
Source: Ownwell
Property Tax Bills Across James City, Pennsylvania
In James City, located in Elk County, PA, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and is often a percentage of the property's market value. For homeowners in James City, the median home price is $29,400. The tax rate is applied to this assessed value to calculate the annual property tax bill. Factors such as property improvements, neighborhood changes, and market fluctuations can influence the assessed value. Homeowners in James City can expect their property tax bills to vary significantly. For instance, the 25th percentile tax bill is $217, while the 75th percentile is $1,154, and the 90th percentile reaches up to $1,557. These figures highlight the range of tax burdens depending on property values and assessments. Compared to the national median property tax rate of 0.99%, James City's tax rates can significantly impact homeowners, making it essential for them to understand how their tax bills are calculated and what factors contribute to the final amount.
Average James City Tax Bill
$900
Average Elk County Tax Bill
$1,325
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across James City, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16734 | $55 | $217 | $900 | $1,154 | $1,557 |
Source: Ownwell