Punxsutawney, Pennsylvania Property Taxes
The median property tax rate in Punxsutawney, 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 $88,384 in Punxsutawney, the typical annual property tax bill is around $219, which is well below the national median of $2,690. Property taxes in Punxsutawney are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Punxsutawney'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 Punxsutawney or another part of Clearfield County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Punxsutawney, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.25%
Estimate Property Tax Bill
$221
Ownwell’s Punxsutawney Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Punxsutawney with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Punxsutawney 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 Punxsutawney, Pennsylvania
Property taxes in Punxsutawney, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Punxsutawney is 0.25%, significantly lower than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Punxsutawney set these rates annually, and they can vary significantly across different neighborhoods. Each year, Punxsutawney 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 Punxsutawney's effective property tax rate to other counties in Pennsylvania and the national median. Understanding how these cities compare with Punxsutawney 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 Punxsutawney 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 Punxsutawney, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15767 | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% |
Source: Ownwell
Property Tax Assessment Values Across Punxsutawney, Pennsylvania
In Punxsutawney, 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 Punxsutawney, 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 Punxsutawney is $88,384. The 25th percentile tax bill is $76, while the 75th percentile tax bill is $308, and the 90th percentile tax bill is $480. The zip code 15767 has the highest and lowest median tax bill at $219. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Punxsutawney, Pennsylvania
Source: Ownwell
$25,505
$91,730
$157,954
Average Punxsutawney Assessed Value
$88,384
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 Punxsutawney, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15767 | $17,878 | $30,556 | $88,384 | $124,242 | $193,737 |
Source: Ownwell
Property Tax Bills Across Punxsutawney, Pennsylvania
In Punxsutawney, Clearfield County, PA, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by local tax assessors and is a percentage of the market value. Homeowners in this area experience a range of property tax bills, with the 25th percentile at $76 and the 75th percentile at $308. The 90th percentile tax bill can go up to $480. These figures highlight the variability in tax burdens depending on the value of individual properties. The highest median tax bill in the region is $219, which aligns with the lowest median tax bill, indicating a relatively consistent tax rate across different properties. Compared to the national median property tax rate of 0.99%, the tax rates in Punxsutawney can be considered moderate. For homeowners, understanding these factors is crucial, as property taxes directly impact annual housing costs and overall affordability.
Average Punxsutawney Tax Bill
$219
Average Clearfield County Tax Bill
$214
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Punxsutawney, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15767 | $44 | $76 | $219 | $308 | $480 |
Source: Ownwell