Pennsylvania Furnace, Pennsylvania Property Taxes
The median property tax rate in Pennsylvania Furnace, PA is 6.10%, significantly higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With a median home value of $16,050, the typical annual property tax bill in Pennsylvania Furnace reaches $888, which is below the national median of $2,690. Property taxes in Pennsylvania Furnace are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions like those for primary residences and agricultural properties. Understanding Pennsylvania Furnace'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 Pennsylvania Furnace 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
Pennsylvania Furnace, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
6.1%
Estimate Property Tax Bill
$979
Ownwell’s Pennsylvania Furnace Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pennsylvania Furnace with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pennsylvania Furnace 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 Pennsylvania Furnace, Pennsylvania
Property taxes in Pennsylvania Furnace, PA, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pennsylvania Furnace is 6.10%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Pennsylvania Furnace set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pennsylvania Furnace 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. Understanding how these rates compare with other areas provides valuable insights into the varying tax landscape across Huntingdon County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Pennsylvania Furnace Tax Rate
6.10%
Average Huntingdon County Tax Rate
5.91%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pennsylvania Furnace, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16865 | 5.85% | 5.85% | 6.10% | 6.10% | 6.10% |
Source: Ownwell
Property Tax Assessment Values Across Pennsylvania Furnace, Pennsylvania
In Pennsylvania Furnace, PA, 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 Huntingdon 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 Pennsylvania Furnace 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 Pennsylvania Furnace helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median tax bill in the area is $888, with the highest and lowest median tax bills both found in zip code 16865.
Property Tax Assessment Values Across Pennsylvania Furnace, Pennsylvania
Source: Ownwell
$3,800
$22,350
$40,900
Average Pennsylvania Furnace Assessed Value
$16,050
Average Huntingdon County Assessed Value
$15,500
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Pennsylvania Furnace, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16865 | $6,540 | $10,100 | $16,050 | $26,050 | $36,170 |
Source: Ownwell
Property Tax Bills Across Pennsylvania Furnace, Pennsylvania
Property tax bills in Pennsylvania Furnace, located in Huntingdon County, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor and is a percentage of the property's market value. In Pennsylvania Furnace, the median home price is $16,050. Homeowners can expect tax bills to vary significantly; for instance, the tax bill at the 25th percentile is $522, while at the 75th percentile, it rises to $1,493. For those in the 90th percentile, the tax bill can reach up to $1,981. These tax bills are influenced by various factors, including property size, location, and market trends. Compared to the national median property tax rate of 0.99%, Pennsylvania Furnace offers a diverse range of tax bills, reflecting the varying property values within the area. This variation in tax bills can significantly impact homeowners' budgets, making it essential for property owners to understand how their tax obligations are calculated and what exemptions or appeals might be available to them.
Average Pennsylvania Furnace Tax Bill
$888
Average Huntingdon County Tax Bill
$782
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Pennsylvania Furnace, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16865 | $350 | $522 | $888 | $1,493 | $1,981 |
Source: Ownwell