New Castle, Pennsylvania Property Taxes
The median property tax rate in New Castle, PA is 2.91%, 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 Castle at $62,050, the typical annual property tax bill reaches $2,005, exceeding the national median of $2,690. Property taxes in New Castle 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 Castle'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 Castle 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 Castle, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.91%
Estimate Property Tax Bill
$1,806
Ownwell’s New Castle Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in New Castle with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in New Castle 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 Castle, Pennsylvania
Property taxes in New Castle, PA, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in New Castle is 2.91%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within New Castle set these rates annually, and they can vary significantly across different neighborhoods. Each year, New Castle 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 Castle's effective property tax rate to other areas in Pennsylvania and the national median. For comparison, the 16107 zip code has the highest median property tax rate of 3.27%, while the 16102 zip code has the lowest median tax rate of 2.88%. Understanding how these areas compare with New Castle 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 Castle Tax Rate
2.91%
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 Castle, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16101 | 2.40% | 2.61% | 2.91% | 4.02% | 4.19% |
| 16102 | 2.48% | 2.48% | 2.88% | 4.02% | 4.14% |
| 16105 | 2.91% | 2.91% | 2.91% | 4.04% | 4.20% |
| 16107 | 2.50% | 2.79% | 3.27% | 3.76% | 4.05% |
Source: Ownwell
Property Tax Assessment Values Across New Castle, Pennsylvania
In New Castle, 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 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 Castle, 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 New Castle helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 16105 at $2,980, while the lowest is 16102 at $1,447.
Average New Castle Assessed Value
$62,050
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 Castle, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16101 | $17,590 | $30,200 | $51,500 | $86,300 | $131,900 |
| 16102 | $16,870 | $26,725 | $43,200 | $86,400 | $140,330 |
| 16105 | $47,900 | $61,200 | $92,400 | $145,800 | $211,900 |
| 16107 | $30,160 | $41,050 | $59,200 | $77,350 | $88,240 |
Source: Ownwell
Property Tax Bills Across New Castle, Pennsylvania
In New Castle, PA, property tax bills are calculated based on the assessed value of a property, which is determined by the Lawrence County assessor's office. The assessed value is then multiplied by the local property tax rate to calculate the annual tax bill. For instance, if your home in New Castle has a median home price of $62,050, your property tax bill will be influenced by this value and the specific tax rate applied. Several factors affect the tax bill, including the property's location within different zip codes, which can lead to variations. For example, the highest median tax bill in New Castle is $2,980 in the 16105 zip code, while the lowest is $1,447 in the 16102 zip code. Homeowners in the 25th percentile can expect a tax bill around $1,286, whereas those in the 75th percentile might see bills closer to $2,989, and in the 90th percentile, up to $4,480. These variations can significantly impact homeowners' finances, making it crucial to understand how these factors contribute to the overall tax bill.
Average New Castle Tax Bill
$2,005
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 Castle, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16101 | $686 | $1,113 | $1,696 | $2,437 | $3,490 |
| 16102 | $609 | $1,018 | $1,447 | $2,242 | $3,537 |
| 16105 | $1,723 | $2,215 | $2,980 | $4,344 | $6,128 |
| 16107 | $1,095 | $1,279 | $1,585 | $1,892 | $2,075 |
Source: Ownwell