Picture Rocks, Pennsylvania Property Taxes
The median property tax rate in Picture Rocks, PA is 2.37%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Picture Rocks at $85,050, the typical annual property tax bill reaches $2,017, which is below the national median of $2,690. Property taxes in Picture Rocks 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 Picture Rocks' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Picture Rocks or another part of Lycoming County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Picture Rocks, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.37%
Estimate Property Tax Bill
$2,016
Ownwell’s PICTURE ROCKS Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in PICTURE ROCKS with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in PICTURE ROCKS 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 Picture Rocks, Pennsylvania
Property taxes in Picture Rocks, Pennsylvania, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Picture Rocks is 1.46%, higher than both the Pennsylvania state median of 1.35% and the U.S. national median of 0.99%. Local government entities within Picture Rocks set these rates annually, and they can vary significantly across different neighborhoods. Each year, Picture Rocks 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 Picture Rocks' effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 17762 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 Picture Rocks 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 Picture Rocks Tax Rate
2.37%
Average Lycoming County Tax Rate
2.61%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Picture Rocks, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17762 | 2.37% | 2.37% | 2.37% | 2.37% | 2.37% |
Source: Ownwell
Property Tax Assessment Values Across Picture Rocks, Pennsylvania
In Picture Rocks, 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 Picture Rocks, 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 Picture Rocks helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 17762 in Picture Rocks has the highest and lowest median tax bill, both at $2,017. The 25th percentile tax bill is $1,649, the 75th percentile is $2,379, and the 90th percentile reaches $3,017. This range highlights the variability in tax bills homeowners might face.
Property Tax Assessment Values Across Picture Rocks, Pennsylvania
Source: Ownwell
$10,885
$65,940
$120,995
Average Picture Rocks Assessed Value
$85,050
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 Picture Rocks, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17762 | $53,340 | $69,520 | $85,050 | $100,325 | $127,230 |
Source: Ownwell
Property Tax Bills Across Picture Rocks, Pennsylvania
In Picture Rocks, Lycoming County, PA, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and reflects a percentage of the property's market value. Homeowners in Picture Rocks face a median property tax rate that is around the national median of 0.99%. For instance, with a median home price of $85,050, the property tax bill can vary significantly. At the 25th percentile, homeowners might pay around $1,649, while at the 75th percentile, the tax bill could rise to approximately $2,379. Those in the 90th percentile may see tax bills as high as $3,017. These figures illustrate the range of property tax burdens that homeowners might encounter, depending on the assessed value of their property and the specific tax rate applied. This variability in property tax bills can significantly impact homeowners, influencing their overall financial planning and housing affordability. Understanding how these factors interplay is crucial for residents aiming to manage their property tax obligations effectively.
Average Picture Rocks Tax Bill
$2,017
Average Lycoming County Tax Bill
$2,556
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Picture Rocks, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17762 | $1,265 | $1,649 | $2,017 | $2,379 | $3,017 |
Source: Ownwell