Ellwood City, Lawrence County, Pennsylvania Property Taxes
The median property tax rate in Ellwood City, PA is 3.56%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Ellwood City at $62,800, the typical annual property tax bill reaches $2,060, which is below the national median of $2,690. Property taxes in Ellwood City 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 Ellwood City'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 Ellwood City or another part of Lawrence County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ellwood City, Lawrence County, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.56%
Estimate Property Tax Bill
$2,236
$2,075
Ownwell’s Ellwood City Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, or potential buyers to estimate their annual property taxes in Ellwood City using just two key data points. By inputting your property's estimated assessed value, the calculator applies the median tax rate in Ellwood City to give you an accurate estimate of your property tax bill. This tool provides an insightful look into your potential tax liabilities, helping you make informed financial decisions. For those interested in more granular details, localized information is available further down the page. Your property’s assessed value is determined by the county for tax calculations, factoring in any applicable exemptions.
Property Tax Rates Across Ellwood City, Lawrence County, Pennsylvania
Property taxes in Ellwood City, Pennsylvania, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ellwood City is 3.56%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Ellwood City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ellwood City 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 Ellwood City's effective property tax rate to other areas in Pennsylvania and the national median. For comparison, the 16117 zip code has the highest median property tax rate of 3.56%, while the lowest median tax rate is also 3.56%. Understanding how these cities compare with Ellwood City provides valuable insights into the varying tax landscape across Lawrence County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ellwood City Tax Rate
3.56%
Average Lawrence County Tax Rate
2.91%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ellwood City, Lawrence County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16117 | 2.75% | 2.84% | 3.56% | 3.56% | 3.56% |
Source: Ownwell
Property Tax Assessment Values Across Ellwood City, Lawrence County, Pennsylvania
In Ellwood City, 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 Lawrence 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 Ellwood City, 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. For instance, the median home price in Ellwood City is $62,800, with tax bills ranging from $1,547 at the 25th percentile to $2,759 at the 75th percentile, and up to $3,717 at the 90th percentile. The zip code with the highest and lowest median tax bill is 16117, both standing at $2,060. 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 Ellwood City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Ellwood City, Lawrence County, Pennsylvania
Source: Ownwell
$43,200
$80,550
$117,900
Average Ellwood City Assessed Value
$62,800
Average Lawrence County Assessed Value
$65,300
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ellwood City, Lawrence County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16117 | $30,900 | $46,600 | $62,800 | $85,200 | $117,960 |
Source: Ownwell
Property Tax Bills Across Ellwood City, Lawrence County, Pennsylvania
In Ellwood City, located in Lawrence County, PA, property tax bills are calculated based on the assessed value of a property, which is determined by the local tax assessor. The assessed value is often a percentage of the market value of the home. Once the assessed value is established, the local tax rate, known as the millage rate, is applied to calculate the annual tax bill. For homeowners in Ellwood City, the median home price is $62,800. Property tax bills can vary significantly, with the 25th percentile tax bill at $1,547 and the 75th percentile tax bill at $2,759. At the higher end, the 90th percentile tax bill reaches $3,717. These taxes fund essential public services such as schools, emergency services, and infrastructure maintenance. Compared to the national median property tax rate of 0.99%, homeowners in Ellwood City may find their tax rates to be relatively higher or lower depending on their property's assessed value and the specific millage rate applied. This can have a substantial impact on the overall cost of homeownership in the area.
Property Tax Bills Across Ellwood City, Lawrence County, Pennsylvania
Source: Ownwell
$1,291
$2,329
$3,367
Average Ellwood City Tax Bill
$2,060
Average Lawrence County Tax Bill
$2,023
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Ellwood City, Lawrence County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16117 | $1,000 | $1,547 | $2,060 | $2,759 | $3,717 |
Source: Ownwell