Smithmill, Pennsylvania Property Taxes
The median property tax rate in Smithmill, 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 Smithmill, the typical annual property tax bill amounts to $186, far below the national median of $2,690. Property taxes in Smithmill are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Smithmill'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 Smithmill 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
Smithmill, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.25%
Estimate Property Tax Bill
$187
Ownwell’s Smithmill Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Smithmill with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Smithmill 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 Smithmill, Pennsylvania
Property taxes in Smithmill, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Smithmill is 1.46%, significantly higher than both the Pennsylvania state median of 1.35% and the U.S. national median of 0.99%. Local government entities within Smithmill set these rates annually, and they can vary significantly across different neighborhoods. Each year, Smithmill 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 Smithmill's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the highest median property tax rate in the region is 2.10%, while the lowest median tax rate is 1.10%. Understanding how these cities compare with Smithmill 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 Smithmill 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 Smithmill, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16680 | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% |
Source: Ownwell
Property Tax Assessment Values Across Smithmill, Pennsylvania
In Smithmill, 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 Smithmill, 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 Smithmill helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest median tax bill is $186 in zip code 16680, which is also the lowest median tax bill, providing a clear picture of the uniformity in tax assessments within the area.
Average Smithmill Assessed Value
$74,747
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 Smithmill, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16680 | $21,919 | $50,884 | $74,747 | $124,495 | $203,788 |
Source: Ownwell
Property Tax Bills Across Smithmill, Pennsylvania
In Smithmill, Clearfield County, 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 tax rate to determine the annual tax bill. For instance, with a median home price of $74,747, homeowners in Smithmill can expect varying tax bills. The 25th percentile tax bill is around $126, while the 75th percentile tax bill is approximately $309, and the 90th percentile tax bill reaches up to $505. These tax bills can significantly impact homeowners, as they need to budget for these annual expenses. Compared to the national median property tax rate of 0.99%, Smithmill's tax bills are relatively moderate, reflecting the local economic conditions and property values. Understanding these factors can help homeowners better plan their finances and potentially appeal their property taxes if they believe the assessed value is too high.
Average Smithmill Tax Bill
$186
Average Clearfield County Tax Bill
$214
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Smithmill, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16680 | $57 | $126 | $186 | $309 | $505 |
Source: Ownwell