Milan, Pennsylvania Property Taxes
The median property tax rate in Milan, PA is 3.28%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Milan at $76,506, the typical annual property tax bill reaches $2,099, which, while below the national median of $2,690, still represents a significant expense for homeowners. Property taxes in Milan 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 Milan'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 Milan 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
Milan, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.28%
Estimate Property Tax Bill
$2,509
Ownwell’s Milan Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Milan. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Milan to provide an accurate estimate of your property tax bill. This valuable tool allows you to understand your potential tax liabilities with ease. For those interested in more detailed trends at the neighborhood level, further localized information is available below. Your property's assessed value is determined by the county for tax calculations, considering any applicable exemptions.
Property Tax Rates Across Milan, Pennsylvania
Property taxes in Milan, Pennsylvania, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Milan is 3.28%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Milan set these rates annually, and they can vary significantly across different neighborhoods. Each year, Milan 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 Milan's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 18831 zip code has the highest median property tax rate of 3.28%, while the 18831 zip code has the lowest median tax rate of 3.28%. Understanding how these cities compare with Milan provides valuable insights into the varying tax landscape across Bradford County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Milan Tax Rate
3.28%
Average Bradford County Tax Rate
3.22%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Milan, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18831 | 1.88% | 2.45% | 3.28% | 3.45% | 3.66% |
Source: Ownwell
Property Tax Assessment Values Across Milan, Pennsylvania
In Milan, 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 Bradford 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 Milan, 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 Milan helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Milan, the median home price is $76,506, with tax bills varying significantly. The 25th percentile tax bill is $1,372, while the 75th percentile reaches $3,126, and the 90th percentile is $4,385. Notably, the highest and lowest median tax bills are both found in zip code 18831, each at $2,099.
Average Milan Assessed Value
$76,506
Average Bradford County Assessed Value
$61,590
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Milan, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18831 | $26,178 | $46,300 | $76,506 | $114,655 | $161,498 |
Source: Ownwell
Property Tax Bills Across Milan, Pennsylvania
In Milan, Bradford County, PA, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For example, with the median home price in Milan at $76,506, homeowners can expect varying tax bills depending on their specific property assessments and applicable exemptions. Factors influencing the tax bill include the property's assessed value, any applicable exemptions, and the local tax rate. The tax bill in Milan can range significantly, with the 25th percentile at $1,372, the 75th percentile at $3,126, and the 90th percentile reaching $4,385. Compared to the national median property tax rate of 0.99%, homeowners in Milan may experience different financial impacts based on these rates and assessed values. Understanding these factors is crucial for homeowners to anticipate their annual financial obligations and budget accordingly.
Average Milan Tax Bill
$2,099
Average Bradford County Tax Bill
$1,935
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Milan, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18831 | $776 | $1,372 | $2,099 | $3,126 | $4,385 |
Source: Ownwell