Woodward, Pennsylvania Property Taxes
The median property tax rate in Woodward, PA is 3.10%, significantly higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Woodward, the typical annual property tax bill reaches $1,794, which is below the national median of $2,690. Property taxes in Woodward are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Woodward'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 Woodward 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
Woodward, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.1%
Estimate Property Tax Bill
$1,800
Ownwell’s Woodward Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Woodward with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Woodward 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 Woodward, Pennsylvania
Property taxes in Woodward, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Woodward is 3.10%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Woodward set these rates annually, and they can vary significantly across different neighborhoods. Each year, Woodward 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 Woodward's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 16882 zip code has the highest median property tax rate of 3.10%, while the same zip code also has the lowest median tax rate of 3.10%. Understanding how these cities compare with Woodward 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 Woodward Tax Rate
3.10%
Average Centre County Tax Rate
3.13%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Woodward, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16882 | 3.09% | 3.10% | 3.10% | 3.10% | 3.10% |
Source: Ownwell
Property Tax Assessment Values Across Woodward, Pennsylvania
In Woodward, Pennsylvania, understanding the difference between "market value" and "assessed value" is essential 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 Woodward, 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 Woodward helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Woodward, the zip code 16882 has the highest median tax bill at $1,794, which is higher than the national median property tax rate of 0.99%.
Average Woodward Assessed Value
$58,080
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 Woodward, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16882 | $9,552 | $22,440 | $58,080 | $113,550 | $186,100 |
Source: Ownwell
Property Tax Bills Across Woodward, Pennsylvania
In Woodward, Centre County, PA, property tax bills are calculated based on the assessed value of a home, which is then multiplied by the local tax rate. The median home price in Woodward is $58,080, and property tax rates can vary significantly. For instance, homeowners at the 25th percentile pay around $697, while those at the 75th percentile see bills around $3,524. At the higher end, the 90th percentile tax bill reaches $5,777. These figures show a wide range of tax burdens, influenced by factors such as property size, location, and improvements. The local tax rate in Woodward exceeds the national median property tax rate of 0.99%, making it crucial for homeowners to understand how their property's assessed value impacts their annual tax bill. High property taxes can affect overall affordability and may influence decisions on home buying and selling. Understanding these factors helps homeowners better manage their finances and anticipate future tax obligations.
Average Woodward Tax Bill
$1,794
Average Centre County Tax Bill
$3,173
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Woodward, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16882 | $308 | $697 | $1,794 | $3,524 | $5,777 |
Source: Ownwell