Emporium, Elk County, Pennsylvania Property Taxes
The median property tax rate in Emporium, PA is 3.63%, significantly higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Emporium at $28,100, the typical annual property tax bill reaches $1,021, surpassing the national median of $2,690. Property taxes in Emporium 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 Emporium'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 Emporium 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
Emporium, Elk County, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.63%
Estimate Property Tax Bill
$1,020
$947
Ownwell’s Emporium Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Emporium with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Emporium 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 Emporium, Elk County, Pennsylvania
Property taxes in Emporium, Pennsylvania, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Emporium is 3.63%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Emporium set these rates annually, and they can vary significantly across different neighborhoods. Each year, Emporium 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 Emporium's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 15834 zip code has the highest median property tax rate of 3.63%, while the 15834 zip code has the lowest median tax rate of 3.63%. Understanding how these cities compare with Emporium provides valuable insights into the varying tax landscape across Elk County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Emporium Tax Rate
3.63%
Average Elk County Tax Rate
3.06%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Emporium, Elk County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15834 | 3.63% | 3.63% | 3.63% | 3.63% | 3.63% |
Source: Ownwell
Property Tax Assessment Values Across Emporium, Elk County, Pennsylvania
In Emporium, 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 Elk 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. Assessment notices in Emporium 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. The median home price in Emporium is $28,100, with property tax bills ranging from $715 at the 25th percentile to $2,114 at the 90th percentile. The highest and lowest median tax bills are both $1,021 in zip code 15834. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Emporium, Elk County, Pennsylvania
Source: Ownwell
$11,700
$31,450
$51,200
Average Emporium Assessed Value
$28,100
Average Elk County Assessed Value
$39,300
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Emporium, Elk County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15834 | $7,400 | $19,700 | $28,100 | $47,240 | $58,200 |
Source: Ownwell
Property Tax Bills Across Emporium, Elk County, Pennsylvania
In Emporium, located in Elk County, PA, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local tax assessor and is often a percentage of the property's market value. Homeowners in Emporium typically see a range of property tax bills, with the 25th percentile at $715 and the 75th percentile reaching $1,716. The 90th percentile tax bill can be as high as $2,114. Several factors contribute to the final tax bill, including the property's location, size, and improvements. Additionally, local tax rates and any applicable exemptions or deductions will influence the amount owed. For example, the median home price in Emporium is $28,100, and the highest median tax bill in the area is $1,021 in the 15834 zip code. Compared to the national median property tax rate of 0.99%, the tax rates in Emporium can significantly impact homeowners, affecting their overall cost of living and financial planning.
Average Emporium Tax Bill
$1,021
Average Elk County Tax Bill
$1,325
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Emporium, Elk County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15834 | $269 | $715 | $1,021 | $1,716 | $2,114 |
Source: Ownwell