Osceola, Pennsylvania Property Taxes
The median property tax rate in Osceola, PA is 2.89%, significantly higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Osceola, the typical annual property tax bill reaches $1,694, exceeding the national median of $2,690. Property taxes in Osceola 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 Osceola'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 Osceola or another part of Tioga County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Osceola, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.89%
Estimate Property Tax Bill
$1,769
Ownwell’s Osceola Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Osceola with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Osceola 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 Osceola, Pennsylvania
Property taxes in Osceola, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Osceola is 2.89%, significantly higher than the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Osceola set these rates annually, and they can vary significantly across different neighborhoods. Each year, Osceola 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 Osceola's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 16942 zip code has the highest median property tax rate of 2.89%, while the same 16942 zip code also has the lowest median tax rate of 2.89%. Understanding how these cities compare with Osceola provides valuable insights into the varying tax landscape across Tioga County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Osceola Tax Rate
2.89%
Average Tioga County Tax Rate
2.81%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Osceola, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16942 | 2.29% | 2.89% | 2.89% | 2.89% | 3.14% |
Source: Ownwell
Property Tax Assessment Values Across Osceola, Pennsylvania
In Osceola, 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 Tioga 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 Osceola, 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 Osceola helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Osceola is $1,694 in the 16942 zip code, while the lowest is also $1,694 in the same zip code.
Average Osceola Assessed Value
$61,210
Average Tioga County Assessed Value
$70,440
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Osceola, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16942 | $22,142 | $36,620 | $61,210 | $96,290 | $142,468 |
Source: Ownwell
Property Tax Bills Across Osceola, Pennsylvania
In Osceola, property tax bills are calculated based on the assessed value of a property, which is determined by the local tax assessor. The assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For homeowners in Osceola, the median home price is $61,210. The property tax rate in Tioga County is relatively high compared to the national median property tax rate of 0.99%. This results in significant property tax bills, with the 25th percentile tax bill at $1,031 and the 75th percentile reaching $2,515. For those in the 90th percentile, tax bills can be as high as $3,576. Homeowners in the zip code 16942 experience the highest median tax bill in the area, at $1,694. These figures illustrate the financial impact on homeowners, highlighting the importance of understanding how property taxes are calculated and the potential benefits of seeking property tax appeal and exemption services.
Average Osceola Tax Bill
$1,694
Average Tioga County Tax Bill
$1,960
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Osceola, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16942 | $656 | $1,031 | $1,694 | $2,515 | $3,576 |
Source: Ownwell