Wattsburg, Pennsylvania Property Taxes
The median property tax rate in Wattsburg, PA is 2.95%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Wattsburg at $108,700, the typical annual property tax bill reaches $3,233, exceeding the national median of $2,690. Property taxes in Wattsburg 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 Wattsburg'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 Wattsburg or another part of Erie County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Wattsburg, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.95%
Estimate Property Tax Bill
$3,207
Ownwell’s Wattsburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wattsburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wattsburg 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 Wattsburg, Pennsylvania
Property taxes in Wattsburg, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wattsburg is 2.95%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Wattsburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wattsburg 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 Wattsburg's effective property tax rate to other areas in Pennsylvania and the national median. For comparison, the 16442 zip code has the highest median property tax rate of 2.95%, while the same zip code also has the lowest median tax rate of 2.95%. Understanding how these rates compare with Wattsburg 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 Wattsburg Tax Rate
2.95%
Average Erie County Tax Rate
2.59%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wattsburg, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16442 | 2.93% | 2.95% | 2.95% | 2.95% | 3.13% |
Source: Ownwell
Property Tax Assessment Values Across Wattsburg, Pennsylvania
In Wattsburg, 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 Wattsburg, 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 Wattsburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Wattsburg are both $3,233, found in zip code 16442.
Average Wattsburg Assessed Value
$108,700
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 Wattsburg, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16442 | $36,880 | $73,140 | $108,700 | $152,300 | $187,060 |
Source: Ownwell
Property Tax Bills Across Wattsburg, Pennsylvania
In Wattsburg, property tax bills are determined based on the assessed value of a home, which is influenced by the market value and specific local assessment practices. The median home price in Wattsburg is $108,700. Property taxes are then calculated by applying the local tax rate to this assessed value. Factors such as property location, size, and condition contribute to the assessed value. For homeowners, this means that tax bills can vary significantly. For example, the 25th percentile tax bill is $2,206, while the 75th percentile tax bill is $4,455, and the 90th percentile tax bill reaches $5,503. The highest and lowest median tax bills in the area both stand at $3,233, highlighting a relatively uniform distribution in certain neighborhoods. Compared to the national median property tax rate of 0.99%, Wattsburg's tax bills reflect the unique economic and property conditions of Erie County, impacting homeowners' annual financial planning and property-related decisions.
Average Wattsburg Tax Bill
$3,233
Average Erie County Tax Bill
$2,898
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Wattsburg, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16442 | $1,170 | $2,206 | $3,233 | $4,455 | $5,503 |
Source: Ownwell