New Millport, Pennsylvania Property Taxes
The median property tax rate in New Millport, 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 New Millport, the typical annual property tax bill is $149, far below the national median of $2,690. Property taxes in New Millport are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding New Millport'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 New Millport 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
New Millport, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.25%
Estimate Property Tax Bill
$146
Ownwell’s New Millport Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in New Millport with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in New Millport 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 New Millport, Pennsylvania
Property taxes in New Millport, Pennsylvania, are essential for funding vital local services such as public schools, road maintenance, and emergency services. The median tax rate in New Millport is 0.25%, which is lower than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within New Millport set these rates annually, and they can vary significantly across different neighborhoods. Each year, New Millport 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 New Millport's effective property tax rate to other counties in Pennsylvania and the national median. Understanding how these cities compare with New Millport 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 New Millport 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 New Millport, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16861 | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% |
Source: Ownwell
Property Tax Assessment Values Across New Millport, Pennsylvania
In New Millport, 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 New Millport, 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. For example, the highest median tax bill in the area is $149, found in the 16861 zip code. 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 New Millport helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across New Millport, Pennsylvania
Source: Ownwell
$25,505
$91,730
$157,954
Average New Millport Assessed Value
$58,334
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 New Millport, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16861 | $17,879 | $34,344 | $58,334 | $98,233 | $141,364 |
Source: Ownwell
Property Tax Bills Across New Millport, Pennsylvania
In New Millport, PA, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For example, with a median home price of $58,334, homeowners in New Millport can expect varying tax bills depending on their property's assessed value and applicable tax rate. Several factors influence the assessed value, including the home's size, age, location, and any improvements made. Once the assessed value is established, the tax rate is applied. In New Millport, tax bills can vary significantly, with the 25th percentile tax bill at $85 and the 75th percentile at $246. At the 90th percentile, homeowners might see a bill as high as $355. Compared to the national median property tax rate of 0.99%, New Millport offers relatively lower tax bills, making it an appealing location for homeowners seeking affordability in property taxes. This lower tax burden can significantly impact homeowners' overall financial planning and housing affordability.
Average New Millport Tax Bill
$149
Average Clearfield County Tax Bill
$214
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across New Millport, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16861 | $44 | $85 | $149 | $246 | $355 |
Source: Ownwell