Waterville, Pennsylvania Property Taxes
The median property tax rate in Waterville, PA is 2.49%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Waterville, the typical annual property tax bill reaches $1,292, exceeding the national median of $2,690. Property taxes in Waterville 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 Waterville'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 Waterville 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
Waterville, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.49%
Estimate Property Tax Bill
$1,210
Ownwell’s Waterville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Waterville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Waterville 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 Waterville, Pennsylvania
Property taxes in Waterville, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Waterville is 2.49%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Waterville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Waterville 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 Waterville's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 17776 zip code has the highest median property tax rate of 2.49%, while the same zip code also has the lowest median tax rate of 2.49%. Understanding how these cities compare with Waterville 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 Waterville Tax Rate
2.49%
Average Lycoming County Tax Rate
2.61%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Waterville, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17776 | 2.49% | 2.49% | 2.49% | 2.78% | 2.78% |
Source: Ownwell
Property Tax Assessment Values Across Waterville, Pennsylvania
In Waterville, 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 Waterville, 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 median home price in Waterville is $48,610, with tax bills ranging from $648 at the 25th percentile to $2,590 at the 90th percentile. Being aware of these valuation processes in Waterville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Waterville Assessed Value
$48,610
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 Waterville, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17776 | $6,607 | $25,045 | $48,610 | $77,772 | $102,099 |
Source: Ownwell
Property Tax Bills Across Waterville, Pennsylvania
Property tax bills in Waterville, located in Lycoming County, PA, are calculated based on the assessed value of a property and the local tax rate. The median home price in Waterville is $48,610, and the tax rate is applied to this assessed value to determine the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value, which in turn affects the tax bill. Homeowners in Waterville can expect property tax bills ranging significantly. For instance, the 25th percentile tax bill is $648, while the 75th percentile tax bill reaches $2,013, and the 90th percentile tax bill is as high as $2,590. These variations highlight how different factors can impact the final tax amount. Compared to the national median property tax rate of 0.99%, Waterville's property tax rates can place a considerable financial burden on homeowners, especially those with higher-valued properties. Understanding these factors is crucial for homeowners to anticipate and manage their property tax obligations effectively.
Average Waterville Tax Bill
$1,292
Average Lycoming County Tax Bill
$2,556
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Waterville, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17776 | $164 | $648 | $1,292 | $2,013 | $2,590 |
Source: Ownwell