Osceola Mills, Pennsylvania Property Taxes
The median property tax rate in Osceola Mills, PA is 3.16%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Osceola Mills at $34,175, the typical annual property tax bill reaches $1,084, exceeding the national median of $2,690. Property taxes in Osceola Mills 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 Mills' 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 Mills 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
Osceola Mills, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.16%
Estimate Property Tax Bill
$1,080
Ownwell’s Osceola Mills Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Osceola Mills with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Osceola Mills 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 Mills, Pennsylvania
Property taxes in Osceola Mills, Pennsylvania, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Osceola Mills is 1.51%, significantly higher than both the Pennsylvania state median of 1.35% and the U.S. national median of 0.99%. Local government entities within Osceola Mills set these rates annually, and they can vary significantly across different neighborhoods. Each year, Osceola Mills 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 Mills' effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 16666 zip code has both the highest and lowest median property tax rate of 1.51%. Understanding how these cities compare with Osceola Mills provides valuable insights into the varying tax landscape across Centre County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Osceola Mills Tax Rate
3.16%
Average Centre County Tax Rate
3.13%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Osceola Mills, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16666 | 3.16% | 3.16% | 3.16% | 3.17% | 3.17% |
Source: Ownwell
Property Tax Assessment Values Across Osceola Mills, Pennsylvania
In Osceola Mills, 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 Centre 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 Mills, 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. For example, the median home price in Osceola Mills is $34,175, with tax bills ranging from $806 at the 25th percentile to $2,184 at the 90th percentile. The highest and lowest median tax bills are both $1,084 in the 16666 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Osceola Mills, Pennsylvania
Source: Ownwell
$21,600
$82,845
$144,090
Average Osceola Mills Assessed Value
$34,175
Average Centre County Assessed Value
$97,340
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Osceola Mills, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16666 | $11,207 | $25,212 | $34,175 | $50,920 | $68,587 |
Source: Ownwell
Property Tax Bills Across Osceola Mills, Pennsylvania
In Osceola Mills, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is then multiplied by the property tax rate set by the taxing authorities in Centre County. For homeowners in Osceola Mills, the median home price stands at $34,175. The property tax rate in this region is a key factor in determining the tax bill, which can range significantly. At the 25th percentile, homeowners might see tax bills around $806, while those at the 75th percentile could face bills as high as $1,626. The top 10% of homeowners might even encounter tax bills up to $2,184. These property taxes are crucial for funding local services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, the rates in Osceola Mills can have a substantial impact on homeowners, influencing their overall cost of living and financial planning.
Average Osceola Mills Tax Bill
$1,084
Average Centre County Tax Bill
$3,173
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Osceola Mills, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16666 | $448 | $806 | $1,084 | $1,626 | $2,184 |
Source: Ownwell