Factoryville, Pennsylvania Property Taxes
The median property tax rate in Factoryville, PA is 3.53%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Factoryville at $20,600, the typical annual property tax bill reaches $726, which is far below the national median of $2,690. Property taxes in Factoryville 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 Factoryville'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 Factoryville or another part of Susquehanna County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Factoryville, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.53%
Estimate Property Tax Bill
$727
Ownwell’s Factoryville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Factoryville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Factoryville 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 Susquehanna County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Factoryville, Pennsylvania
Property taxes in Factoryville, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Factoryville is 3.53%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Factoryville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Factoryville 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 Factoryville's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 18419 zip code has the highest median property tax rate of 3.53%, while the same 18419 zip code also has the lowest median tax rate of 3.53%. Understanding how these areas compare with Factoryville provides valuable insights into the varying tax landscape across Susquehanna County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Factoryville Tax Rate
3.53%
Average Susquehanna County Tax Rate
3.31%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Factoryville, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18419 | 3.53% | 3.53% | 3.53% | 3.53% | 3.53% |
Source: Ownwell
Property Tax Assessment Values Across Factoryville, Pennsylvania
In Factoryville, 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 Susquehanna 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 Factoryville, 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 Factoryville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Factoryville, the zip code 18419 has the highest and lowest median tax bill at $726.
Average Factoryville Assessed Value
$20,600
Average Susquehanna County Assessed Value
$40,400
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Factoryville, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18419 | $20,600 | $20,600 | $20,600 | $20,600 | $20,600 |
Source: Ownwell
Property Tax Bills Across Factoryville, Pennsylvania
In Factoryville, located in Susquehanna County, PA, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by local assessors who evaluate the property's market value. This assessed value is then multiplied by the local tax rate to calculate the annual property tax bill. For Factoryville, the median home price is $20,600, and homeowners typically pay a property tax bill of $726, which is consistent across various percentiles. This uniformity suggests a relatively stable tax rate in the area. The tax bill can significantly impact homeowners, especially when compared to the national median property tax rate of 0.99%. Given the lower home values in Factoryville, the property tax burden might be more manageable for residents. However, it remains crucial for homeowners to stay informed about any changes in assessed values or tax rates, as these can directly influence their annual financial obligations. Understanding these factors helps homeowners plan better and ensure they meet their tax responsibilities without undue stress.
Average Factoryville Tax Bill
$726
Average Susquehanna County Tax Bill
$1,338
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Factoryville, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18419 | $726 | $726 | $726 | $726 | $726 |
Source: Ownwell