Brockway, Pennsylvania Property Taxes
The median property tax rate in Brockway, PA is 0.25%, significantly lower than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Brockway, the typical annual property tax bill is $338, considerably less than the national median of $2,690. Property taxes in Brockway are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Brockway's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Brockway or another part of Clearfield County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Brockway, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.25%
Estimate Property Tax Bill
$342
Ownwell’s Brockway Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Brockway with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Brockway 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 Brockway, Pennsylvania
Property taxes in Brockway, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Brockway is 1.29%, higher than both the Pennsylvania state median of 1.35% and the U.S. national median of 0.99%. Local government entities within Brockway set these rates annually, and they can vary significantly across different neighborhoods. Each year, Brockway 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 Brockway's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 16830 zip code has the highest median property tax rate of 1.35%, while the 16858 zip code has the lowest median tax rate of 0.25%. Understanding how these cities compare with Brockway provides valuable insights into the varying tax landscape across Clearfield County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Brockway Tax Rate
0.25%
Average Clearfield County Tax Rate
0.25%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Brockway, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15824 | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% |
Source: Ownwell
Property Tax Assessment Values Across Brockway, Pennsylvania
In Brockway, 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 Clearfield 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 Brockway, 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 Brockway helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the highest median tax bill in the area is $338 in the 15824 zip code, while the lowest median tax bill is also $338 in the same zip code.
Average Brockway Assessed Value
$136,616
Average Clearfield County Assessed Value
$86,111
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Brockway, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15824 | $104,495 | $116,415 | $136,616 | $169,697 | $225,959 |
Source: Ownwell
Property Tax Bills Across Brockway, Pennsylvania
Property tax bills in Brockway, located in Clearfield County, PA, are calculated based on the assessed value of a property. The assessed value is determined by the local tax assessor and represents a percentage of the property's market value. In Brockway, the median home price is $136,616, which serves as a benchmark for many property valuations in the area. Homeowners' tax bills are influenced by several factors, including the property's assessed value, local tax rates, and applicable exemptions. For example, in Brockway, tax bills can vary significantly, with the 25th percentile tax bill at $288 and the 75th percentile reaching $420. The 90th percentile tax bill is even higher at $559, indicating a range of property values and corresponding tax obligations. These property taxes directly affect homeowners by impacting their annual expenses. Compared to the national median property tax rate of 0.99%, Brockway's property tax rates can be considered moderate, helping to maintain a balanced cost of living for its residents.
Average Brockway Tax Bill
$338
Average Clearfield County Tax Bill
$214
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Brockway, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15824 | $259 | $288 | $338 | $420 | $559 |
Source: Ownwell