Russell, Pennsylvania Property Taxes
The median property tax rate in Russell, PA is 3.73%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Russell, the typical annual property tax bill reaches $1,736, exceeding the national median of $2,690. Property taxes in Russell 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 Russell'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 Russell 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
Russell, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.73%
Estimate Property Tax Bill
$1,810
Ownwell’s Russell Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Russell with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Russell 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 Russell, Pennsylvania
Property taxes in Russell, Pennsylvania, are essential for funding local services such as public schools, road maintenance, and emergency services. The median tax rate in Russell is 3.73%, significantly higher than the U.S. national median of 0.99%. Local government entities within Russell set these rates annually, and they can vary across different neighborhoods. Each year, Russell 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 Russell's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the zip code 16345 has the highest median property tax rate of 3.73%, while the same zip code also represents the lowest median tax rate of 3.73%. Understanding how these cities compare with Russell provides valuable insights into the varying tax landscape across Warren County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Russell Tax Rate
3.73%
Average Warren County Tax Rate
3.99%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Russell, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16345 | 2.82% | 3.38% | 3.73% | 4.20% | 4.43% |
Source: Ownwell
Property Tax Assessment Values Across Russell, Pennsylvania
In Russell, 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 Russell, 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 Russell helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Russell are both $1,736, found in the 16345 zip code.
Average Russell Assessed Value
$48,523
Average Warren County Assessed Value
$33,691
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Russell, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16345 | $17,600 | $30,989 | $48,523 | $70,368 | $98,313 |
Source: Ownwell
Property Tax Bills Across Russell, Pennsylvania
In Russell, located in Warren County, PA, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For example, the median home price in Russell is $48,523. With the national median property tax rate at 0.99%, homeowners in Russell might expect a tax bill that reflects this rate, though local rates can vary. Several factors influence the final tax bill, including property size, location, and market conditions. For instance, tax bills in the 25th percentile are around $1,083, while those in the 75th percentile can reach up to $2,604. The 90th percentile tax bills climb even higher, up to $3,759. These variations can significantly affect homeowners, influencing decisions related to property investment and long-term financial planning. Homeowners in Russell should be mindful of these factors when budgeting for annual property taxes.
Average Russell Tax Bill
$1,736
Average Warren County Tax Bill
$1,260
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Russell, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16345 | $602 | $1,083 | $1,736 | $2,604 | $3,759 |
Source: Ownwell