Portage, Pennsylvania Property Taxes
The median property tax rate in Portage, PA is 1.35%, considerably higher than the national median of 0.99% but lower than the Pennsylvania state median of 2.81%. With a median home value of $83,900 in Portage, the typical annual property tax bill reaches $1,129, which is below the national median of $2,690. Property taxes in Portage are calculated based on the tax assessed value, typically lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Portage'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 Portage 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
Portage, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.35%
Estimate Property Tax Bill
$1,133
Ownwell’s Portage Property Tax Bill Calculator is an indispensable tool for homeowners, real estate investors, and potential buyers in Portage, Bedford County, PA. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Portage to provide an accurate estimate of your annual property tax bill. This valuable resource helps you anticipate your tax liabilities with ease. For those interested in more granular insights, localized information on neighborhood trends is available below. Your property's assessed value is determined by the county for property tax calculations and may include applicable exemptions, ensuring a precise estimate tailored to your specific circumstances.
Property Tax Rates Across Portage, Pennsylvania
Property taxes in Portage, Pennsylvania, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Portage is 1.35%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Portage set these rates annually, and they can vary significantly across different neighborhoods. Each year, Portage 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 Portage's effective property tax rate to other areas in Pennsylvania and the national median. For comparison, the zip code 15946 has the highest median property tax rate of 1.35%, while the same zip code also has the lowest median tax rate of 1.35%. Understanding how these rates compare with Portage 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 Portage Tax Rate
1.35%
Average Bedford County Tax Rate
1.45%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Portage, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15946 | 1.35% | 1.35% | 1.35% | 1.35% | 1.35% |
Source: Ownwell
Property Tax Assessment Values Across Portage, Pennsylvania
In Portage, 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 Portage, 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 Portage helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $1,129 in the 15946 zip code, providing a benchmark for local property tax expectations.
Average Portage Assessed Value
$83,900
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 Portage, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15946 | $29,600 | $53,825 | $83,900 | $117,475 | $143,850 |
Source: Ownwell
Property Tax Bills Across Portage, Pennsylvania
In Portage, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is a percentage of the property's market value. For example, with a median home price of $83,900, the assessed value significantly influences the final tax bill. The tax rate is then applied to this assessed value to determine the amount homeowners owe annually. Factors such as property size, location, and condition can affect the assessed value. In Bedford County, where Portage is located, property tax bills can vary widely. At the 25th percentile, homeowners might pay around $724, while those at the 75th percentile could see bills as high as $1,581. The 90th percentile reaches up to $1,937. Compared to the national median property tax rate of 0.99%, Portage's tax rates are reflective of local economic conditions and funding needs. High property taxes can impact homeowners by increasing their annual costs, making budgeting more challenging.
Average Portage Tax Bill
$1,129
Average Bedford County Tax Bill
$1,429
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Portage, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15946 | $434 | $724 | $1,129 | $1,581 | $1,937 |
Source: Ownwell