Mc Veytown, Pennsylvania Property Taxes
The median property tax rate in Mc Veytown, PA is 2.79%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Mc Veytown, the typical annual property tax bill reaches $1,993, exceeding the national median of $2,690. Property taxes in Mc Veytown 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 Mc Veytown'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 Mc Veytown 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
Mc Veytown, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.79%
Estimate Property Tax Bill
$1,973
Ownwell’s Mc Veytown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mc Veytown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mc Veytown 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 Mc Veytown, Pennsylvania
Property taxes in Mc Veytown, Pennsylvania, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mc Veytown is 2.79%, significantly higher than the U.S. national median of 0.99%. Local government entities within Mc Veytown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mc Veytown 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 Mc Veytown's effective property tax rate to other areas in Pennsylvania and the national median. For comparison, the zip code 17051 has the highest median property tax rate of 2.79%, while the same zip code also has the lowest median tax rate of 2.79%. Understanding how these areas compare with Mc Veytown provides valuable insights into the varying tax landscape across Mifflin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mc Veytown Tax Rate
2.79%
Average Mifflin County Tax Rate
2.92%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mc Veytown, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17051 | 2.66% | 2.79% | 2.79% | 2.92% | 2.92% |
Source: Ownwell
Property Tax Assessment Values Across Mc Veytown, Pennsylvania
In Mc Veytown, 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 Mifflin 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 Mc Veytown, 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 Mc Veytown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest median tax bill in the area is $1993 in the 17051 zip code.
Average Mc Veytown Assessed Value
$70,700
Average Mifflin County Assessed Value
$67,100
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mc Veytown, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17051 | $22,200 | $46,100 | $70,700 | $98,725 | $143,690 |
Source: Ownwell
Property Tax Bills Across Mc Veytown, Pennsylvania
In Mc Veytown, Mifflin County, PA, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by local government assessors who evaluate the property's market value, which in Mc Veytown has a median home price of $70,700. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For homeowners in Mc Veytown, the property tax bill can vary significantly. The 25th percentile tax bill is around $1,309, while the 75th percentile tax bill can reach up to $2,819, and the 90th percentile tax bill can be as high as $4,046. These figures highlight the variability in tax burdens depending on the assessed value of the property. Compared to the national median property tax rate of 0.99%, Mc Veytown's tax bills reflect a range that can have a substantial impact on homeowners. Higher property taxes can influence decisions on homeownership, affordability, and long-term financial planning.
Average Mc Veytown Tax Bill
$1,993
Average Mifflin County Tax Bill
$1,976
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Mc Veytown, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17051 | $622 | $1,309 | $1,993 | $2,819 | $4,046 |
Source: Ownwell