Three Springs, Pennsylvania Property Taxes
The median property tax rate in Three Springs, Pennsylvania is 4.87%, significantly higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Three Springs, the typical annual property tax bill reaches $1,453, which is below the national median of $2,690. Property taxes in Three Springs 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 Three Springs' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Three Springs 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
Three Springs, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
4.87%
Estimate Property Tax Bill
$999
Ownwell’s THREE SPRINGS Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in THREE SPRINGS with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in THREE SPRINGS 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 Three Springs, Pennsylvania
Property taxes in Three Springs, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Three Springs is 4.87%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Three Springs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Three Springs 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 Three Springs' effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 17264 zip code has the highest median property tax rate of 4.87%, while the 17264 zip code also has the lowest median tax rate of 4.87%. Understanding how these cities compare with Three Springs provides valuable insights into the varying tax landscape across Fulton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Three Springs Tax Rate
4.87%
Average Fulton County Tax Rate
4.59%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Three Springs, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17264 | 4.87% | 4.87% | 4.87% | 4.87% | 4.87% |
Source: Ownwell
Property Tax Assessment Values Across Three Springs, Pennsylvania
In THREE SPRINGS, 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 Fulton 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 THREE SPRINGS, 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. The median home price in THREE SPRINGS is $20,510, with tax bills ranging from $611 at the 25th percentile to $2,505 at the 90th percentile. The highest and lowest median tax bill, both at $1,453, are found in the 17264 zip code. 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 THREE SPRINGS helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Three Springs, Pennsylvania
Source: Ownwell
$3,320
$23,850
$44,380
Average Three Springs Assessed Value
$20,510
Average Fulton County Assessed Value
$13,800
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Three Springs, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17264 | $1,680 | $2,380 | $20,510 | $41,410 | $50,774 |
Source: Ownwell
Property Tax Bills Across Three Springs, Pennsylvania
In THREE SPRINGS, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local tax rate to calculate the annual property tax bill. For homeowners in THREE SPRINGS, the median home price is $20,510. The tax bill can vary significantly, with the 25th percentile at $611 and the 75th percentile reaching $2,114. The 90th percentile tax bill is even higher at $2,505. Factors such as changes in the assessed value of the property, local tax rates, and any applicable exemptions or deductions can influence the final tax bill. Comparatively, the national median property tax rate is 0.99%, making it essential for homeowners to understand how their local rates compare. High property taxes can significantly impact homeowners by increasing the cost of homeownership, potentially making it more challenging to afford other expenses. Conversely, lower property taxes can make homeownership more accessible and financially manageable.
Average Three Springs Tax Bill
$1,453
Average Fulton County Tax Bill
$734
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Three Springs, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17264 | $112 | $611 | $1,453 | $2,114 | $2,505 |
Source: Ownwell