Thompsontown, Pennsylvania Property Taxes
The median property tax rate in Thompsontown, PA is 9.84%, significantly higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Thompsontown at $18,840, the typical annual property tax bill reaches $1,911, which is below the national median of $2,690. Property taxes in Thompsontown 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 Thompsontown'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 Thompsontown 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
Thompsontown, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
9.84%
Estimate Property Tax Bill
$1,854
Ownwell’s Thompsontown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Thompsontown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Thompsontown 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 Thompsontown, Pennsylvania
Property taxes in Thompsontown, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Thompsontown is 9.84%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Thompsontown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Thompsontown 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 Thompsontown's effective property tax rate to other areas in Pennsylvania and the national median. For comparison, the 17094 zip code has the highest median property tax rate of 9.84%, while the same zip code also has the lowest median tax rate of 9.84%. Understanding how these areas compare with Thompsontown provides valuable insights into the varying tax landscape across Juniata County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Thompsontown Tax Rate
9.84%
Average Juniata County Tax Rate
9.79%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Thompsontown, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17094 | 9.59% | 9.84% | 9.84% | 10.29% | 10.29% |
Source: Ownwell
Property Tax Assessment Values Across Thompsontown, Pennsylvania
In Thompsontown, 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 Juniata 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 Thompsontown 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 Thompsontown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $1,911, found in the 17094 zip code.
Average Thompsontown Assessed Value
$18,840
Average Juniata County Assessed Value
$17,920
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Thompsontown, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17094 | $6,148 | $10,200 | $18,840 | $26,880 | $38,110 |
Source: Ownwell
Property Tax Bills Across Thompsontown, Pennsylvania
In Thompsontown, located in Juniata County, PA, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county's property assessor and is typically a percentage of the home's market value. Homeowners in Thompsontown can expect varying tax bills, with amounts influenced by the property's assessed value and the tax rate applied. For instance, the median home price in Thompsontown is $18,840. Property tax bills in this area range significantly, with the 25th percentile at $1,038 and the 75th percentile reaching $2,708. The 90th percentile tax bill can go up to $3,864. These figures highlight how property taxes can impact homeowners differently, depending on their property's assessed value. Compared to the national median property tax rate of 0.99%, Thompsontown's property taxes can be relatively high, influencing homeowners' annual financial planning. Understanding these factors helps homeowners anticipate their property tax obligations and manage their finances more effectively.
Average Thompsontown Tax Bill
$1,911
Average Juniata County Tax Bill
$1,779
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Thompsontown, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17094 | $627 | $1,038 | $1,911 | $2,708 | $3,864 |
Source: Ownwell