Osterburg, Pennsylvania Property Taxes
The median property tax rate in Osterburg, PA is 1.31%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Osterburg, the typical annual property tax bill reaches $1,294, exceeding the national median of $2,690. Property taxes in Osterburg 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 Osterburg'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 Osterburg 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
Osterburg, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.31%
Estimate Property Tax Bill
$1,324
Ownwell’s Osterburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Osterburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Osterburg 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 Bedford County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Osterburg, Pennsylvania
Property taxes in Osterburg, Pennsylvania, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Osterburg is 1.31%, higher than the U.S. national median of 0.99%. Local government entities within Osterburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Osterburg 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 Osterburg's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 16667 zip code has the highest median property tax rate of 1.31%, while the 16667 zip code also has the lowest median tax rate of 1.31%. Understanding how these cities compare with Osterburg provides valuable insights into the varying tax landscape across Bedford County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Osterburg Tax Rate
1.31%
Average Bedford County Tax Rate
1.45%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Osterburg, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16667 | 1.31% | 1.31% | 1.31% | 1.33% | 1.33% |
Source: Ownwell
Property Tax Assessment Values Across Osterburg, Pennsylvania
In Osterburg, 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 Bedford 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 Osterburg, 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 Osterburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 16667, with a median tax bill of $1,294.
Average Osterburg Assessed Value
$101,100
Average Bedford County Assessed Value
$101,200
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Osterburg, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16667 | $30,340 | $63,000 | $101,100 | $149,775 | $214,000 |
Source: Ownwell
Property Tax Bills Across Osterburg, Pennsylvania
In Osterburg, located in Bedford County, PA, property tax bills are calculated based on the assessed value of a home. The assessed value is a percentage of the market value determined by local assessors. Osterburg homeowners experience a range of property tax bills, with the 25th percentile at $825 and the 75th percentile reaching $1,842. The 90th percentile tax bill can go up to $2,464. The median home price in Osterburg is $101,100, which influences the overall tax burden. Several factors contribute to the final tax bill, including the property's assessed value, the local tax rate, and any applicable exemptions or deductions. For instance, the highest median tax bill in the area is $1,294, found in the zip code 16667. This figure is relatively modest compared to the national median property tax rate of 0.99%. These tax bills significantly impact homeowners by affecting their annual expenses and potentially influencing their decisions to buy or sell property in the area.
Average Osterburg Tax Bill
$1,294
Average Bedford County Tax Bill
$1,429
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Osterburg, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16667 | $384 | $825 | $1,294 | $1,842 | $2,464 |
Source: Ownwell