Allenwood, Pennsylvania Property Taxes
The median property tax rate in Allenwood, PA is 2.51%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Allenwood at $95,145, the typical annual property tax bill reaches $2,389, which is below the national median of $2,690. Property taxes in Allenwood 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 Allenwood'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 Allenwood 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
Allenwood, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.51%
Estimate Property Tax Bill
$2,388
Ownwell’s Allenwood Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Allenwood with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Allenwood 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 Allenwood, Pennsylvania
Property taxes in Allenwood, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Allenwood is 1.46%, notably higher than the Pennsylvania state median of 1.35% and the U.S. national median of 0.99%. Local government entities within Allenwood set these rates annually, and they can vary significantly across different neighborhoods. Each year, Allenwood 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 Allenwood's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 17810 zip code has the highest median property tax rate of 1.46%, while the same zip code also has the lowest median tax rate of 1.46%. Understanding how these cities compare with Allenwood provides valuable insights into the varying tax landscape across Lycoming County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Allenwood Tax Rate
2.51%
Average Lycoming County Tax Rate
2.61%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Allenwood, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17810 | 2.51% | 2.51% | 2.51% | 2.51% | 2.51% |
Source: Ownwell
Property Tax Assessment Values Across Allenwood, Pennsylvania
In Allenwood, 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 Lycoming 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 Allenwood, 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 Allenwood 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 17810, with a value of $2,389, which is the same for the lowest median tax bill.
Average Allenwood Assessed Value
$95,145
Average Lycoming County Assessed Value
$87,660
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Allenwood, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17810 | $30,883 | $54,942 | $95,145 | $127,288 | $154,589 |
Source: Ownwell
Property Tax Bills Across Allenwood, Pennsylvania
In Allenwood, located in Lycoming County, PA, property tax bills are calculated based on a combination of the assessed property value and the local tax rate. The assessed value is determined by the county assessor and is a percentage of the property's market value. Homeowners in Allenwood see a range of property tax bills, reflecting the variability in property values and assessments. For instance, the median home price in Allenwood is $95,145. Property tax bills can vary significantly, with the 25th percentile tax bill at $1,380 and the 75th percentile at $3,196. At the higher end, the 90th percentile tax bill reaches $3,882. This range illustrates how different factors, such as property size, location, and improvements, affect the assessed value and, consequently, the tax bill. Compared to the national median property tax rate of 0.99%, Allenwood's property tax rates can be considered high, impacting homeowners by adding a significant annual expense. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Allenwood Tax Bill
$2,389
Average Lycoming County Tax Bill
$2,556
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Allenwood, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17810 | $775 | $1,380 | $2,389 | $3,196 | $3,882 |
Source: Ownwell