Springboro, Pennsylvania Property Taxes
The median property tax rate in Springboro, PA, is 2.08%, significantly higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Springboro at $155,270, the typical annual property tax bill reaches $3,231, exceeding the national median of $2,690. Property taxes in Springboro 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 Springboro'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 Springboro 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
Springboro, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.08%
Estimate Property Tax Bill
$3,230
Ownwell’s Springboro Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Springboro with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Springboro 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 Springboro, Pennsylvania
Property taxes in Springboro, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Springboro is 2.08%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Springboro set these rates annually, and they can vary significantly across different neighborhoods. Each year, Springboro 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 Springboro's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 16435 zip code has the highest median property tax rate of 2.08%, while the same zip code also has the lowest median tax rate of 2.08%. Understanding how these areas compare with Springboro provides valuable insights into the varying tax landscape across Erie County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Springboro Tax Rate
2.08%
Average Erie County Tax Rate
2.59%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Springboro, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16435 | 2.08% | 2.08% | 2.08% | 2.08% | 2.08% |
Source: Ownwell
Property Tax Assessment Values Across Springboro, Pennsylvania
In Springboro, 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 Erie 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 Springboro, 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 Springboro 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 found in zip code 16435, amounting to $3,231, while the lowest median tax bill is also in zip code 16435, reflecting the uniformity in tax assessments.
Property Tax Assessment Values Across Springboro, Pennsylvania
Source: Ownwell
$33,860
$103,725
$173,590
Average Springboro Assessed Value
$155,270
Average Erie County Assessed Value
$98,900
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Springboro, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16435 | $44,460 | $60,600 | $155,270 | $164,700 | $171,660 |
Source: Ownwell
Property Tax Bills Across Springboro, Pennsylvania
In Springboro, located in Erie County, PA, property tax bills are determined by assessing the market value of a home and applying the local tax rate to this assessed value. The median home price in Springboro is $155,270. Homeowners in this area can expect their property tax bills to vary significantly, with the 25th percentile tax bill at $1,261 and the 75th percentile tax bill at $3,427. For those at the 90th percentile, the tax bill can reach up to $3,572. These figures indicate that while some homeowners may face relatively modest tax bills, others may find their property taxes to be a more substantial financial burden. The highest median tax bill in the area is $3,231, which is notably higher than the national median property tax rate of 0.99%. Factors such as property location, home improvements, and changes in the local tax rate can all influence the final tax bill, impacting homeowners' overall financial planning and budgeting.
Average Springboro Tax Bill
$3,231
Average Erie County Tax Bill
$2,898
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Springboro, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16435 | $925 | $1,261 | $3,231 | $3,427 | $3,572 |
Source: Ownwell