New Florence, Pennsylvania Property Taxes
The median property tax rate in New Florence, PA is 1.74%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in New Florence at $98,900, the typical annual property tax bill reaches $1,772, which exceeds the national median of $2,690. Property taxes in New Florence 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 New Florence'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 New Florence 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
New Florence, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.74%
Estimate Property Tax Bill
$1,721
Ownwell’s New Florence Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in New Florence with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in New Florence 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 New Florence, Pennsylvania
Property taxes in New Florence, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in New Florence is 1.74%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within New Florence set these rates annually, and they can vary across different neighborhoods. Each year, New Florence 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 New Florence's effective property tax rate to other areas in Indiana County and the national median. For comparison, the zip code 15944 has the highest median property tax rate of 1.74%, while the lowest median tax rate is also 1.74% in the same zip code. Understanding how these areas compare with New Florence provides valuable insights into the varying tax landscape across Indiana County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average New Florence Tax Rate
1.74%
Average Indiana County Tax Rate
2.03%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across New Florence, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15944 | 1.74% | 1.74% | 1.74% | 1.74% | 1.74% |
Source: Ownwell
Property Tax Assessment Values Across New Florence, Pennsylvania
In New Florence, 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 Indiana 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 New Florence, 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 New Florence helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $1,772, found in the 15944 zip code, which is also the lowest median tax bill.
Property Tax Assessment Values Across New Florence, Pennsylvania
Source: Ownwell
$24,600
$83,500
$142,400
Average New Florence Assessed Value
$98,900
Average Indiana County Assessed Value
$98,600
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across New Florence, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15944 | $14,300 | $58,050 | $98,900 | $146,400 | $196,100 |
Source: Ownwell
Property Tax Bills Across New Florence, Pennsylvania
In New Florence, located in Indiana County, PA, property tax bills are determined by a combination of the assessed value of the property and the local tax rate. The assessed value is an estimate of the property's market value, which is multiplied by the tax rate set by local taxing authorities to calculate the annual tax bill. For homeowners in New Florence, the median home price stands at $98,900. The tax bills vary significantly within the city, with the 25th percentile paying around $1,090 annually, while those in the 75th percentile face bills of approximately $2,598. At the higher end, the 90th percentile sees tax bills reaching $3,473. Comparatively, the median tax bill in the area’s highest and lowest zip code, 15944, is $1,772. These property taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the quality of life for homeowners. The property tax rate in New Florence is above the national median of 0.99%, making it crucial for homeowners to understand their tax obligations and potential exemptions available.
Average New Florence Tax Bill
$1,772
Average Indiana County Tax Bill
$2,051
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across New Florence, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15944 | $450 | $1,090 | $1,772 | $2,598 | $3,473 |
Source: Ownwell