Punxsutawney, Pennsylvania Property Taxes
The median property tax rate in Punxsutawney, PA, is 1.39%, significantly higher than the national median of 0.99% but much lower than Pennsylvania's state median of 2.81%. With a median home value of $117,200 in Punxsutawney, the typical annual property tax bill amounts to $1,793, which is below the national median of $2,690. Property taxes here are calculated based on the tax assessed value, which is often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Punxsutawney'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 Punxsutawney or another part of Indiana County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Punxsutawney, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.39%
Estimate Property Tax Bill
$1,629
Ownwell’s Punxsutawney Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Punxsutawney with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Punxsutawney 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 Punxsutawney, Pennsylvania
Property taxes in Punxsutawney, PA, are essential for funding critical local services like public schools, road maintenance, and emergency services. The median tax rate in Punxsutawney stands at 1.39%, which is notably higher than the U.S. national median of 0.99%. Local government entities within Punxsutawney set these rates annually, and they can vary significantly across different neighborhoods. Each year, Punxsutawney 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 Punxsutawney's effective property tax rate to other areas in Indiana County and the national median. For comparison, the zip code 15767 has the highest median property tax rate of 1.39%, while the zip code 15767 also has the lowest median tax rate of 1.39%. Understanding how these areas compare with Punxsutawney 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 Punxsutawney Tax Rate
1.39%
Average Indiana County Tax Rate
2.03%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Punxsutawney, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15767 | 1.39% | 1.39% | 1.39% | 1.77% | 1.77% |
Source: Ownwell
Property Tax Assessment Values Across Punxsutawney, Pennsylvania
In Punxsutawney, 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 Punxsutawney, 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 Punxsutawney 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 $1,793 in zip code 15767, which matches the lowest median tax bill, indicating a uniformity in tax assessments within the region.
Property Tax Assessment Values Across Punxsutawney, Pennsylvania
Source: Ownwell
$24,600
$83,500
$142,400
Average Punxsutawney Assessed Value
$117,200
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 Punxsutawney, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15767 | $14,760 | $62,300 | $117,200 | $159,200 | $241,060 |
Source: Ownwell
Property Tax Bills Across Punxsutawney, Pennsylvania
In Punxsutawney, Indiana County, PA, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. The median home price in Punxsutawney stands at $117,200, which serves as a baseline for many tax assessments. Homeowners in this region can expect tax bills ranging significantly, with the 25th percentile around $1,086 and the 75th percentile reaching $2,474. For those in the 90th percentile, tax bills can soar to approximately $3,706. Factors influencing the tax bill include the property's assessed value, local tax rates, and any applicable exemptions or appeals. Compared to the national median property tax rate of 0.99%, homeowners in Punxsutawney may find their tax obligations vary widely based on these factors. Understanding how these elements interact helps homeowners anticipate their financial responsibilities and plan accordingly.
Average Punxsutawney Tax Bill
$1,793
Average Indiana County Tax Bill
$2,051
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Punxsutawney, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15767 | $505 | $1,086 | $1,793 | $2,474 | $3,706 |
Source: Ownwell