Milroy, Pennsylvania Property Taxes
The median property tax rate in Milroy, PA is 2.73%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Milroy, the typical annual property tax bill reaches $1,851, which is below the national median of $2,690. Property taxes in Milroy 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 Milroy'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 Milroy or another part of Mifflin County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Milroy, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.73%
Estimate Property Tax Bill
$1,854
Ownwell’s Milroy Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Milroy with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Milroy 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 Milroy, Pennsylvania
Property taxes in Milroy, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Milroy is 1.46%, significantly higher than both the Pennsylvania state median of 1.35% and the U.S. national median of 0.99%. Local government entities within Milroy set these rates annually, and they can vary significantly across different neighborhoods. Each year, Milroy 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 Milroy's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the highest median property tax rate in the region is 1.46%, while the lowest median tax rate is also 1.46%. Understanding how these cities compare with Milroy 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 Milroy Tax Rate
2.73%
Average Mifflin County Tax Rate
2.92%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Milroy, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17063 | 2.73% | 2.73% | 2.73% | 2.73% | 2.73% |
Source: Ownwell
Property Tax Assessment Values Across Milroy, Pennsylvania
In Milroy, 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 Milroy, 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 Milroy helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $1,851 in zip code 17063, while the lowest median tax bill is also $1,851 in the same zip code.
Average Milroy Assessed Value
$67,900
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 Milroy, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17063 | $23,610 | $44,825 | $67,900 | $93,775 | $139,950 |
Source: Ownwell
Property Tax Bills Across Milroy, Pennsylvania
In Milroy, located in Mifflin 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's property assessor and is a percentage of the property's market value. Homeowners in Milroy see a range of property tax bills depending on their property's assessed value. For instance, the tax bill at the 25th percentile is $1,222, while at the 75th percentile, it rises to $2,557. Those at the 90th percentile can expect to pay around $3,815. These tax bills directly impact homeowners by adding a significant annual cost to homeownership. Compared to the national median property tax rate of 0.99%, Milroy's tax rates can vary, affecting how much homeowners pay relative to their property’s assessed value. This variation underscores the importance of understanding local tax assessments and how they influence overall housing expenses.
Average Milroy Tax Bill
$1,851
Average Mifflin County Tax Bill
$1,976
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Milroy, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17063 | $646 | $1,222 | $1,851 | $2,557 | $3,815 |
Source: Ownwell