Mills, Pennsylvania Property Taxes
The median property tax rate in Mills, PA is 6.32%, significantly higher than both the national median of 0.99% and Pennsylvania's state median of 2.81%. With a median home value of $21,100 in Mills, the typical annual property tax bill is $1,748, which is below the national median of $2,690. Property taxes in Mills are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Mills' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Mills 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
Mills, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
6.32%
Estimate Property Tax Bill
$1,334
Ownwell’s Mills Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mills with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mills 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 Mills, Pennsylvania
Property taxes in Mills, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mills 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 Mills set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mills 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 Mills' effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 16937 zip code has the highest median property tax rate of 1.46%, while the same zip code also has the lowest median tax rate of 1.46%. Understanding how these cities compare with Mills 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 Mills Tax Rate
6.32%
Average Potter County Tax Rate
6.53%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mills, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16937 | 6.32% | 6.32% | 6.32% | 6.32% | 6.32% |
Source: Ownwell
Property Tax Assessment Values Across Mills, Pennsylvania
In Mills, 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. In Mills, 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 Mills helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Mills is found in the 16937 zip code, amounting to $1,748.00, while the lowest median tax bill is also $1,748.00 in the same zip code.
Average Mills Assessed Value
$21,100
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 Mills, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16937 | $10,608 | $15,315 | $21,100 | $32,295 | $48,688 |
Source: Ownwell
Property Tax Bills Across Mills, Pennsylvania
In Mills, property tax bills are determined by assessing the value of a homeowner’s property and applying the local tax rate. The assessed value is based on the market value of the home, which in Mills has a median home price of $21,100. This assessed value is then multiplied by the property tax rate set by Potter County to calculate the annual tax bill. Factors such as property size, location, and any improvements made can influence the assessed value, thereby affecting the tax bill. Homeowners in Mills typically see tax bills ranging from $1,636 at the 25th percentile to $2,455 at the 90th percentile, with the highest median tax bill recorded at $1,748 in the 16937 zip code. Compared to the national median property tax rate of 0.99%, Mills homeowners may find their tax rates and bills to be relatively manageable, although individual circumstances can vary. Understanding these factors can help homeowners anticipate their annual property tax obligations and manage their finances accordingly.
Average Mills Tax Bill
$1,748
Average Potter County Tax Bill
$970
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Mills, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16937 | $1,154 | $1,636 | $1,748 | $1,914 | $2,455 |
Source: Ownwell