Waterford, Pennsylvania Property Taxes
The median property tax rate in Waterford, PA is 5.85%, significantly higher than both the national median of 0.99% and Pennsylvania's state median of 2.81%. With a median home value of $33,372 in Waterford, the typical annual property tax bill amounts to $1,954, which is below the national median of $2,690. Property taxes in Waterford are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Waterford'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 Waterford or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Waterford, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
5.85%
Estimate Property Tax Bill
$1,952
Ownwell’s Waterford Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Waterford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Waterford 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 Waterford, Pennsylvania
Property taxes in Waterford, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Waterford is 5.85%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Waterford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Waterford 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 Waterford's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 16441 zip code has the highest median property tax rate of 5.85%, while the same zip code also has the lowest median tax rate of 5.85%. Understanding how these areas compare with Waterford provides valuable insights into the varying tax landscape across Crawford County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Waterford Tax Rate
5.85%
Average Crawford County Tax Rate
5.74%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Waterford, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16441 | 5.85% | 5.85% | 5.85% | 5.86% | 5.86% |
Source: Ownwell
Property Tax Assessment Values Across Waterford, Pennsylvania
In Waterford, 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 Crawford 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 Waterford, 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 Waterford helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the highest median tax bill in the area is $1,954 in the 16441 zip code, while the lowest is also $1,954 in the same zip code.
Average Waterford Assessed Value
$33,372
Average Crawford County Assessed Value
$26,552
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Waterford, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16441 | $7,290 | $18,900 | $33,372 | $41,194 | $49,726 |
Source: Ownwell
Property Tax Bills Across Waterford, Pennsylvania
In Waterford, PA, property tax bills are calculated based on the assessed value of the property, which is determined by local tax assessors. The assessed value is a percentage of the property's market value. Once the assessed value is established, the local tax rate, known as the millage rate, is applied. Homeowners in Waterford can expect tax bills that vary significantly, with the 25th percentile at $1,105 and the 75th percentile reaching $2,413. The 90th percentile tax bill can go up to $2,911. These figures are influenced by various factors, including property size, location, and market conditions. For instance, the highest median tax bill in the area is $1,954, found in the zip code 16441. This means that even within the same county, tax bills can differ greatly. Compared to the national median property tax rate of 0.99%, Waterford's property taxes can represent a substantial expense for homeowners, affecting overall affordability and long-term financial planning.
Average Waterford Tax Bill
$1,954
Average Crawford County Tax Bill
$1,304
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Waterford, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16441 | $426 | $1,105 | $1,954 | $2,413 | $2,911 |
Source: Ownwell