Limestone, Pennsylvania Property Taxes
The median property tax rate in Limestone, PA is 8.35%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Limestone at $15,843, the typical annual property tax bill reaches $1,323, exceeding the national median of $2,690. Property taxes in Limestone 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 Limestone'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 Limestone 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
Limestone, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
8.35%
Estimate Property Tax Bill
$1,323
Ownwell’s Limestone Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Limestone with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Limestone 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 Limestone, Pennsylvania
Property taxes in Limestone, PA, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Limestone is 8.35%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Limestone set these rates annually, and they can vary significantly across different neighborhoods. Each year, Limestone 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 Limestone's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the zip code 16234 has the highest median property tax rate of 8.35%, while the same zip code also has the lowest median tax rate of 8.35%. Understanding how these areas compare with Limestone provides valuable insights into the varying tax landscape across Clarion County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Limestone Tax Rate
8.35%
Average Clarion County Tax Rate
8.04%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Limestone, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16234 | 8.35% | 8.35% | 8.35% | 8.35% | 8.35% |
Source: Ownwell
Property Tax Assessment Values Across Limestone, Pennsylvania
In Limestone, 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 Clarion 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 Limestone, 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. The median home price in Limestone is $15,843, with tax bills varying significantly. The highest median tax bill is $1,323 in zip code 16234, while the lowest is also $1,323 in the same zip code. Being aware of these valuation processes in Limestone helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Limestone Assessed Value
$15,843
Average Clarion County Assessed Value
$13,522
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Limestone, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16234 | $13,092 | $13,200 | $15,843 | $18,370 | $19,224 |
Source: Ownwell
Property Tax Bills Across Limestone, Pennsylvania
In Limestone, located in Clarion County, PA, property tax bills are calculated based on assessed property values and the local tax rate. The assessed value is a percentage of the property's market value, which is determined by the county's assessment office. This value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Limestone, the median home price is $15,843. Property tax bills can vary significantly, with the 25th percentile tax bill being $1,103 and the 75th percentile reaching $1,534. The highest median tax bill in the area is $1,323, found in the 16234 zip code. These numbers indicate that property taxes in Limestone are quite substantial relative to the home's market value. For homeowners, understanding these factors is crucial as property taxes can significantly impact annual expenses. Comparing the local tax rate to the national median property tax rate of 0.99% helps put Limestone's rates into perspective, highlighting the importance of accurate property assessments and effective tax planning.
Average Limestone Tax Bill
$1,323
Average Clarion County Tax Bill
$1,119
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Limestone, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16234 | $1,094 | $1,103 | $1,323 | $1,534 | $1,606 |
Source: Ownwell