New Bedford, Pennsylvania Property Taxes
The median property tax rate in New Bedford, PA is 2.59%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in New Bedford at $55,200, the typical annual property tax bill reaches $1,456, exceeding the national median of $2,690. Property taxes in New Bedford 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 New Bedford'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 New Bedford 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
New Bedford, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.59%
Estimate Property Tax Bill
$1,430
Ownwell’s New Bedford Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in New Bedford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in New Bedford 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 New Bedford, Pennsylvania
Property taxes in New Bedford, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in New Bedford is 2.59%, significantly higher than the U.S. national median of 0.99%. Local government entities within New Bedford set these rates annually, and they can vary significantly across different neighborhoods. Each year, New Bedford 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 New Bedford's effective property tax rate to other areas in Pennsylvania and the national median. For comparison, the 16140 zip code has the highest median property tax rate of 2.59%, while the same zip code also has the lowest median tax rate of 2.59%. Understanding how these cities compare with New Bedford provides valuable insights into the varying tax landscape across Lawrence County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average New Bedford Tax Rate
2.59%
Average Lawrence County Tax Rate
2.91%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across New Bedford, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16140 | 2.59% | 2.59% | 2.59% | 2.59% | 2.59% |
Source: Ownwell
Property Tax Assessment Values Across New Bedford, Pennsylvania
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in New Bedford, Pennsylvania. 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 Lawrence 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 New Bedford, 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. For instance, the highest median tax bill in New Bedford is $1,456 in zip code 16140, while the lowest is also $1,456 in the same zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across New Bedford, Pennsylvania
Source: Ownwell
$43,200
$80,550
$117,900
Average New Bedford Assessed Value
$55,200
Average Lawrence County Assessed Value
$65,300
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across New Bedford, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16140 | $17,490 | $32,350 | $55,200 | $73,375 | $115,870 |
Source: Ownwell
Property Tax Bills Across New Bedford, Pennsylvania
In New Bedford, PA, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. Homeowners in New Bedford can expect a median home price of $55,200. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as property improvements, market conditions, and neighborhood values can influence the assessed value. For homeowners in New Bedford, property tax bills can vary significantly. The 25th percentile tax bill is approximately $910, while the 75th percentile tax bill can reach around $1,913. At the higher end, the 90th percentile tax bill is about $3,009. Comparatively, the highest median tax bill in Lawrence County is $1,456 in the 16140 zip code, which is above the national median property tax rate of 0.99%. These variations in tax bills can significantly impact homeowners' finances, influencing decisions about property investments and long-term financial planning.
Average New Bedford Tax Bill
$1,456
Average Lawrence County Tax Bill
$2,023
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across New Bedford, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16140 | $549 | $910 | $1,456 | $1,913 | $3,009 |
Source: Ownwell