Walnut Bottom, Pennsylvania Property Taxes
The median property tax rate in Walnut Bottom, PA, is 1.84%, considerably higher than the national median of 0.99% but lower than the Pennsylvania state median of 2.81%. With a median home value of $149,800 in Walnut Bottom, the typical annual property tax bill reaches $2,750, slightly below the national median of $2,690. Property taxes in Walnut Bottom 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 Walnut Bottom'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 Walnut Bottom 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
Walnut Bottom, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.84%
Estimate Property Tax Bill
$2,756
Ownwell’s Walnut Bottom Property Tax Bill Calculator allows homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Walnut Bottom with just two simple data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Walnut Bottom to provide an accurate estimate of your property tax bill. This intuitive tool is designed to help you understand your potential tax liabilities better. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property's assessed value is determined by Cumberland County for property tax purposes and considers any applicable exemptions.
Property Tax Rates Across Walnut Bottom, Pennsylvania
Property taxes in Walnut Bottom, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Walnut Bottom is 1.84%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Walnut Bottom set these rates annually, and they can vary significantly across different neighborhoods. Each year, Walnut Bottom 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 Walnut Bottom's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 17266 zip code has the highest median property tax rate of 1.84%, while the same zip code also has the lowest median tax rate of 1.84%. Understanding how these cities compare with Walnut Bottom provides valuable insights into the varying tax landscape across Cumberland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Walnut Bottom Tax Rate
1.84%
Average Cumberland County Tax Rate
1.84%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Walnut Bottom, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17266 | 1.84% | 1.84% | 1.84% | 1.84% | 1.84% |
Source: Ownwell
Property Tax Assessment Values Across Walnut Bottom, Pennsylvania
In Walnut Bottom, 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 Cumberland 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 Walnut Bottom, 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 Walnut Bottom helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Walnut Bottom is $149,800, with tax bills ranging from $2,318 at the 25th percentile to $3,851 at the 90th percentile. The zip code 17266 has both the highest and lowest median tax bill at $2,750.
Property Tax Assessment Values Across Walnut Bottom, Pennsylvania
Source: Ownwell
$114,900
$366,200
$617,500
Average Walnut Bottom Assessed Value
$149,800
Average Cumberland County Assessed Value
$182,700
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Walnut Bottom, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17266 | $109,790 | $126,275 | $149,800 | $175,775 | $209,740 |
Source: Ownwell
Property Tax Bills Across Walnut Bottom, Pennsylvania
Property tax bills in Walnut Bottom, Cumberland County, PA, are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is typically a percentage of the property's market value, and this percentage can vary based on local regulations. For example, if a home is valued at $149,800, the tax bill will be calculated based on the assessed value set by the county. Several factors influence the final tax bill, including property size, location, and improvements made to the property. Homeowners in Walnut Bottom can expect a median tax bill of around $2,750, which is significantly higher than the national median property tax rate of 0.99%. The tax bill can range from $2,318 at the 25th percentile to $3,851 at the 90th percentile, reflecting the variability in property values and assessments. These property taxes fund essential community services such as schools, public safety, and infrastructure, directly impacting the quality of life for homeowners. Understanding how these calculations work can help homeowners anticipate their annual expenses and budget accordingly.
Average Walnut Bottom Tax Bill
$2,750
Average Cumberland County Tax Bill
$3,176
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Walnut Bottom, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17266 | $2,016 | $2,318 | $2,750 | $3,227 | $3,851 |
Source: Ownwell