East Smethport, Pennsylvania Property Taxes
The median property tax rate in East Smethport, PA is 3.44%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in East Smethport, the typical annual property tax bill reaches $744, which is below the national median of $2,690. Property taxes in East Smethport 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 East Smethport'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 East Smethport or another part of McKean County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
East Smethport, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.44%
Estimate Property Tax Bill
$743
Ownwell’s EAST SMETHPORT Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in EAST SMETHPORT with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in EAST SMETHPORT 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 East Smethport, Pennsylvania
Property taxes in East Smethport, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in East Smethport is 3.44%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within East Smethport set these rates annually, and they can vary significantly across different neighborhoods. Each year, East Smethport 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 East Smethport's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 16730 zip code has the highest median property tax rate of 3.44%, while the same zip code also has the lowest median tax rate of 3.44%. Understanding how these cities compare with East Smethport provides valuable insights into the varying tax landscape across McKean County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average East Smethport Tax Rate
3.44%
Average Mckean County Tax Rate
3.45%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across East Smethport, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16730 | 3.44% | 3.44% | 3.44% | 3.44% | 3.44% |
Source: Ownwell
Property Tax Assessment Values Across East Smethport, Pennsylvania
In EAST SMETHPORT, 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 McKean 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 EAST SMETHPORT, 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 EAST SMETHPORT helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price is $21,600, with tax bills ranging from $471 at the 25th percentile to $1,491 at the 90th percentile. The zip code 16730 shows both the highest and lowest median tax bill at $744.
Property Tax Assessment Values Across East Smethport, Pennsylvania
Source: Ownwell
$10,750
$24,615
$38,480
Average East Smethport Assessed Value
$21,600
Average Mckean County Assessed Value
$23,400
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across East Smethport, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16730 | $9,738 | $13,670 | $21,600 | $24,760 | $45,150 |
Source: Ownwell
Property Tax Bills Across East Smethport, Pennsylvania
In East Smethport, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The median home price in East Smethport is $21,600, significantly lower than the national median. Property tax rates in this area are relatively moderate, with the median tax bill standing at $744.00. The range of tax bills varies, with the 25th percentile at $471 and the 75th percentile at $853, while the 90th percentile reaches up to $1,491. Several factors influence the property tax bill, including the assessed value of the property and the local tax rate. These taxes fund essential services such as schools, public safety, and infrastructure. For homeowners in East Smethport, understanding these factors is crucial for financial planning and property management. The relatively low property values and moderate tax rates make East Smethport an attractive location for those looking to minimize their property tax burden while still benefiting from necessary public services.
Average East Smethport Tax Bill
$744
Average Mckean County Tax Bill
$784
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across East Smethport, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16730 | $335 | $471 | $744 | $853 | $1,491 |
Source: Ownwell