Herrick Center, Pennsylvania Property Taxes
The median property tax rate in Herrick Center, PA is 2.98%, significantly higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Herrick Center at $22,000, the typical annual property tax bill reaches $656, which is considerably lower than the national median of $2,690. Property taxes in Herrick Center 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 Herrick Center's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Herrick Center 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
Herrick Center, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.98%
Estimate Property Tax Bill
$656
Ownwell’s Herrick Center Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Herrick Center with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Herrick Center 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 Herrick Center, Pennsylvania
Property taxes in Herrick Center, Pennsylvania, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Herrick Center is 2.98%, significantly higher than both the Pennsylvania state median of 1.46% and the U.S. national median of 0.99%. Local government entities within Herrick Center set these rates annually, and they can vary significantly across different neighborhoods. Each year, Herrick Center 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 Herrick Center's effective property tax rate to other areas in Pennsylvania and the national median. For comparison, the zip code 18430 has the highest median property tax rate of 2.98%, while the lowest median tax rate is also 2.98%. Understanding how these areas compare with Herrick Center 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 Herrick Center Tax Rate
2.98%
Average Susquehanna County Tax Rate
3.31%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Herrick Center, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18430 | 2.98% | 2.98% | 2.98% | 2.98% | 2.98% |
Source: Ownwell
Property Tax Assessment Values Across Herrick Center, Pennsylvania
In Herrick Center, 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 Herrick Center, 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 18430 has the highest and lowest median tax bill, both at $656, offering a glimpse into the local property tax landscape.
Property Tax Assessment Values Across Herrick Center, Pennsylvania
Source: Ownwell
$9,800
$47,900
$86,000
Average Herrick Center Assessed Value
$22,000
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 Herrick Center, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18430 | $17,620 | $18,250 | $22,000 | $27,050 | $30,020 |
Source: Ownwell
Property Tax Bills Across Herrick Center, Pennsylvania
In Herrick Center, property tax bills are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is a percentage of the property's market value, which is determined by the local tax assessor. For example, if a home in Herrick Center has a market value of $22,000, the assessed value will be a portion of this amount based on the county's assessment ratio. The tax rate in Susquehanna County then applies to this assessed value to calculate the annual tax bill. Homeowners in Herrick Center can expect their property tax bills to vary significantly. The 25th percentile tax bill is around $544, while the 75th percentile tax bill reaches $806. The highest median tax bill in the area is $656, showing some consistency across different properties. Compared to the national median property tax rate of 0.99%, Herrick Center's rates reflect the local economic conditions and property values, impacting homeowners' annual financial planning.
Average Herrick Center Tax Bill
$656
Average Susquehanna County Tax Bill
$1,338
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Herrick Center, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18430 | $525 | $544 | $656 | $806 | $895 |
Source: Ownwell