Kersey, Pennsylvania Property Taxes
The median property tax rate in Kersey, PA is 2.80%, slightly below the Pennsylvania state median of 2.81%, yet significantly higher than the national median of 0.99%. With a median home value of $45,700 in Kersey, the typical annual property tax bill reaches $1,279, which is below the national median of $2,690. Property taxes in Kersey 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 Kersey'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 Kersey 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
Kersey, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.8%
Estimate Property Tax Bill
$1,280
Ownwell’s Kersey Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kersey with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kersey 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 Kersey, Pennsylvania
Property taxes in Kersey, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kersey is 2.80%, significantly higher than the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Kersey set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kersey 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 Kersey's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 15846 zip code has the highest median property tax rate of 2.80%, while the 15846 zip code also has the lowest median tax rate of 2.80%. Understanding how these cities compare with Kersey 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 Kersey Tax Rate
2.80%
Average Elk County Tax Rate
3.06%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kersey, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15846 | 2.79% | 2.79% | 2.79% | 2.80% | 2.80% |
Source: Ownwell
Property Tax Assessment Values Across Kersey, Pennsylvania
In Kersey, 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 Elk 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 Kersey, 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 Kersey helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest median tax bill in the area is $1,279, found in the 15846 zip code.
Average Kersey Assessed Value
$45,700
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 Kersey, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15846 | $4,700 | $17,700 | $45,700 | $65,925 | $94,630 |
Source: Ownwell
Property Tax Bills Across Kersey, Pennsylvania
In Kersey, property tax bills are calculated based on the assessed value of a home, which is determined by the county. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For example, homeowners in Kersey, located in Elk County, face a median tax bill of $1,279. Factors such as the property's size, location, and condition can influence its assessed value, leading to variations in tax bills. Comparatively, the median home price in Kersey is $45,700, which is significantly lower than the national median. This lower home price contributes to a relatively modest property tax bill when compared to national figures. However, tax bills can vary widely within the area; the 25th percentile tax bill is $495, while the 75th percentile reaches $1,845, and the 90th percentile goes up to $2,645. These variations highlight how different factors can impact the financial burden on homeowners, making it essential to understand the local property tax system.
Average Kersey Tax Bill
$1,279
Average Elk County Tax Bill
$1,325
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Kersey, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15846 | $131 | $495 | $1,279 | $1,845 | $2,645 |
Source: Ownwell