Austin, Pennsylvania Property Taxes
The median property tax rate in Austin, PA is 8.43%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Austin, the typical annual property tax bill reaches $674, which, while below the national median of $2,690, is still significant given the high tax rate. Property taxes in Austin 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 Austin'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 Austin 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
Austin, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
8.43%
Estimate Property Tax Bill
$711
Ownwell’s Austin Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Austin with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Austin 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 Austin, Pennsylvania
Property taxes in Austin, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Austin is 8.43%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Austin set these rates annually, and they can vary significantly across different neighborhoods. Each year, Austin 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 Austin's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 16720 zip code has the highest median property tax rate of 8.43%, while the same zip code has the lowest median tax rate of 8.43%. Understanding how these cities compare with Austin provides valuable insights into the varying tax landscape across Potter County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Austin Tax Rate
8.43%
Average Potter County Tax Rate
6.53%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Austin, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16720 | 6.60% | 8.43% | 8.43% | 8.43% | 8.43% |
Source: Ownwell
Property Tax Assessment Values Across Austin, Pennsylvania
In Austin, 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 local appraisal district 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. Assessment notices in Austin 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. Notably, the zip code 16720 has the highest and lowest median tax bill at $674, which can be compared to the national median property tax rate of 0.99%. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Austin Assessed Value
$8,430
Average Potter County Assessed Value
$13,240
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Austin, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16720 | $2,240 | $4,240 | $8,430 | $16,540 | $26,966 |
Source: Ownwell
Property Tax Bills Across Austin, Pennsylvania
In Austin, property tax bills are determined by the assessed value of a home and the local tax rate. The assessed value is an estimate of the property's market value, which is then multiplied by the tax rate set by local authorities. For example, in Potter County, the median home price is $8,430, and homeowners can expect varying tax bills based on their property's assessed value. Factors such as location, property size, and market conditions play a significant role in determining the assessed value. In this area, the 25th percentile tax bill is around $293, while the 75th percentile tax bill reaches up to $1,332, and the 90th percentile tax bill can go as high as $1,699. These property tax bills impact homeowners by influencing their annual financial planning and potentially affecting their ability to invest in home improvements or other expenditures. Comparing this to the national median property tax rate of 0.99%, homeowners in Austin might find their tax obligations relatively manageable, but still significant enough to warrant careful consideration.
Average Austin Tax Bill
$674
Average Potter County Tax Bill
$970
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Austin, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16720 | $98 | $293 | $674 | $1,332 | $1,699 |
Source: Ownwell