Renovo, Pennsylvania Property Taxes
The median property tax rate in Renovo, PA is 2.02%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Renovo at $29,000, the typical annual property tax bill reaches $707, which is significantly lower than the national median of $2,690. Property taxes in Renovo are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Renovo'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 Renovo or another part of Clinton County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Renovo, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.02%
Estimate Property Tax Bill
$586
Ownwell’s Renovo Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, or potential buyers to estimate their annual property taxes in Renovo with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Renovo to provide an accurate estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities. For those 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 Clinton County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Renovo, Pennsylvania
Property taxes in Renovo, Pennsylvania, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Renovo is 2.02%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Renovo set these rates annually, and they can vary significantly across different neighborhoods. Each year, Renovo 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 Renovo's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 17764 zip code has the highest median property tax rate of 2.02%, while the same zip code also has the lowest median tax rate of 2.02%. Understanding how these cities compare with Renovo provides valuable insights into the varying tax landscape across Clinton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Renovo Tax Rate
2.02%
Average Clinton County Tax Rate
2.04%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Renovo, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17764 | 1.99% | 2.02% | 2.02% | 2.86% | 3.06% |
Source: Ownwell
Property Tax Assessment Values Across Renovo, Pennsylvania
In Renovo, 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 Clinton 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 Renovo, 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 Renovo helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Renovo is $29,000, with the highest median tax bill being $707 in the 17764 zip code.
Average Renovo Assessed Value
$29,000
Average Clinton County Assessed Value
$57,200
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Renovo, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17764 | $8,700 | $16,900 | $29,000 | $50,000 | $82,720 |
Source: Ownwell
Property Tax Bills Across Renovo, Pennsylvania
In Renovo, located in Clinton County, PA, property tax bills are calculated based on the assessed value of a home. The assessment reflects the market value, which is then multiplied by the local tax rate to determine the annual property tax bill. For instance, with a median home price of $29,000, homeowners can expect varying tax bills. The 25th percentile tax bill is around $402, while the 75th percentile reaches up to $1,104. At the 90th percentile, it can climb to $1,815. These figures indicate that property taxes in Renovo can significantly impact homeowners, especially when compared to the national median property tax rate of 0.99%. For example, the highest and lowest median tax bill in the area is both $707, reflecting the consistent tax rate applied across different properties. Understanding these factors helps homeowners anticipate their annual expenses and manage their budgets more effectively.
Average Renovo Tax Bill
$707
Average Clinton County Tax Bill
$1,228
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Renovo, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17764 | $208 | $402 | $707 | $1,104 | $1,815 |
Source: Ownwell