Olanta, Pennsylvania Property Taxes
The median property tax rate in Olanta, PA is 0.25%, significantly lower than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With a median home value of $77,020 in Olanta, the typical annual property tax bill is $194, far below the national median of $2,690. Property taxes in Olanta are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Olanta'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 Olanta 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
Olanta, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.25%
Estimate Property Tax Bill
$193
Ownwell’s Olanta Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Olanta with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Olanta 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 Olanta, Pennsylvania
Property taxes in Olanta, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Olanta is 0.25%, significantly lower than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Olanta set these rates annually, and they can vary significantly across different neighborhoods. Each year, Olanta 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 Olanta's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the highest median property tax rate in Pennsylvania is found in zip code 19004 with a rate of 2.40%, while the lowest median tax rate is in zip code 16830 at 0.25%. Understanding how these cities compare with Olanta 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 Olanta 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 Olanta, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16863 | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% |
Source: Ownwell
Property Tax Assessment Values Across Olanta, Pennsylvania
In Olanta, 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 Olanta, 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 Olanta helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 16863 has the highest median tax bill of $194.00, illustrating the variability in tax obligations within the area.
Average Olanta Assessed Value
$77,020
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 Olanta, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16863 | $21,238 | $46,781 | $77,020 | $123,894 | $189,975 |
Source: Ownwell
Property Tax Bills Across Olanta, Pennsylvania
In Olanta, located in Clearfield County, PA, property tax bills are determined based on the assessed value of a home. The assessed value is a percentage of the market value, which is then multiplied by the local tax rate to calculate the annual property tax bill. Factors such as the home's location, size, and improvements can influence its assessed value. The median home price in Olanta is $77,020, and the property tax bills vary significantly. For instance, the 25th percentile tax bill is $119, while the 75th percentile tax bill is $309, and the 90th percentile tax bill reaches $472. This variability means that homeowners in Olanta can expect different tax bills based on their property’s assessed value and the specific tax rate applied. Compared to the national median property tax rate of 0.99%, Olanta's property taxes can be relatively lower, providing some financial relief to homeowners. Understanding these factors is crucial for homeowners to anticipate their property tax obligations and plan their finances accordingly.
Average Olanta Tax Bill
$194
Average Clearfield County Tax Bill
$214
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Olanta, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16863 | $54 | $119 | $194 | $309 | $472 |
Source: Ownwell