Ludlow, Pennsylvania Property Taxes
The median property tax rate in Ludlow, PA is 3.45%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Ludlow, the typical annual property tax bill reaches $371, which is significantly lower than the national median of $2,690. Property taxes in Ludlow 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 Ludlow'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 Ludlow 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
Ludlow, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.45%
Estimate Property Tax Bill
$371
Ownwell’s Ludlow Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in Ludlow. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Ludlow to provide an estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities and plan accordingly. For those interested in more granular data, you can scroll down to explore trends on a neighborhood level. Your property’s assessed value, determined by the county, forms the basis for property tax calculations and considers any applicable exemptions.
Property Tax Rates Across Ludlow, Pennsylvania
Property taxes in Ludlow, Pennsylvania, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ludlow is 3.45%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Ludlow set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ludlow 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 Ludlow's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 16333 zip code has the highest median property tax rate of 3.45%, while the same zip code also has the lowest median tax rate of 3.45%. Understanding how these cities compare with Ludlow 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 Ludlow Tax Rate
3.45%
Average Mckean County Tax Rate
3.45%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ludlow, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16333 | 3.08% | 3.45% | 3.45% | 3.45% | 3.45% |
Source: Ownwell
Property Tax Assessment Values Across Ludlow, Pennsylvania
In Ludlow, 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 Ludlow, 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 Ludlow 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 in McKean County is 16333, with a median tax bill of $371.00, which is significantly lower than the national median property tax rate of 0.99%.
Average Ludlow Assessed Value
$10,750
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 Ludlow, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16333 | $5,088 | $7,970 | $10,750 | $23,790 | $120,836 |
Source: Ownwell
Property Tax Bills Across Ludlow, Pennsylvania
Property tax bills in Ludlow, McKean County, PA, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by local assessors who evaluate the property's market value. In Ludlow, homeowners experience a wide range of tax bills. The 25th percentile tax bill is $275, while the 75th percentile tax bill reaches $820. For those in the 90th percentile, the tax bill can soar to $3,099. These tax bills are influenced by several factors, including property size, location, and any improvements made. Compared to the national median property tax rate of 0.99%, Ludlow's tax rates can be considered moderate to high, depending on the specific property. Homeowners in Ludlow need to budget for these taxes as they can significantly impact annual expenses. Understanding how these bills are calculated helps homeowners plan better and seek potential exemptions or appeals to manage their financial obligations effectively.
Average Ludlow Tax Bill
$371
Average Mckean County Tax Bill
$784
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Ludlow, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16333 | $175 | $275 | $371 | $820 | $3,099 |
Source: Ownwell