Tafton, Pennsylvania Property Taxes
The median property tax rate in Tafton, PA is 2.69%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Tafton at $111,602, the typical annual property tax bill reaches $3,020, exceeding the national median of $2,690. Property taxes in Tafton are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Tafton'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 Tafton 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
Tafton, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.69%
Estimate Property Tax Bill
$3,002
Ownwell’s Tafton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tafton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tafton 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 Tafton, Pennsylvania
Property taxes in Tafton, Pennsylvania, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Tafton is 2.69%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Tafton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tafton 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 Tafton's effective property tax rate to other areas in Pike County and the national median. For comparison, the zip code 18464 has both the highest and lowest median property tax rate of 2.69%. Understanding how these areas compare with Tafton provides valuable insights into the varying tax landscape across Pike County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Tafton Tax Rate
2.69%
Average Pike County Tax Rate
3.72%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tafton, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18464 | 2.69% | 2.69% | 2.69% | 2.69% | 2.70% |
Source: Ownwell
Property Tax Assessment Values Across Tafton, Pennsylvania
In Tafton, 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 Pike 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 Tafton, 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 Tafton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Tafton are both $3,020 in the 18464 zip code, showcasing a unique uniformity within the region.
Average Tafton Assessed Value
$111,602
Average Pike County Assessed Value
$106,483
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Tafton, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18464 | $58,817 | $80,513 | $111,602 | $157,769 | $227,887 |
Source: Ownwell
Property Tax Bills Across Tafton, Pennsylvania
In Tafton, Pike County, PA, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the county assessor's office and is intended to reflect a percentage of the property's market value. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual property tax bill. For homeowners in Tafton, the median home price is $111,602. The property tax rate in Pike County is relatively high compared to the national median property tax rate of 0.99%. As a result, homeowners in Tafton can expect to pay a significant amount in property taxes. The 25th percentile tax bill is $2,178, while the 75th percentile tax bill reaches $4,244. At the 90th percentile, the tax bill can be as high as $6,109. These property taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the community's quality of life. Consequently, understanding how property tax bills are calculated can help homeowners better manage their financial planning and obligations.
Average Tafton Tax Bill
$3,020
Average Pike County Tax Bill
$3,676
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Tafton, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18464 | $1,580 | $2,178 | $3,020 | $4,244 | $6,109 |
Source: Ownwell