Liberty, Lycoming County, Pennsylvania Property Taxes
The median property tax rate in Liberty, PA is 2.49%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Liberty at $95,250, the typical annual property tax bill reaches $2,370, slightly below the national median of $2,690. Property taxes in Liberty 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 Liberty'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 Liberty 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
Liberty, Lycoming County, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.49%
Estimate Property Tax Bill
$2,372
$2,201
Ownwell’s Liberty Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Liberty with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Liberty 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 Lycoming County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Liberty, Lycoming County, Pennsylvania
Property taxes in Liberty, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Liberty is 2.49%, significantly higher than the U.S. national median of 0.99%. Local government entities within Liberty set these rates annually, and they can vary significantly across different neighborhoods. Each year, Liberty 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 Liberty's effective property tax rate to other areas in Pennsylvania and the national median. For comparison, the 16930 zip code has the highest median property tax rate of 2.49%, while the same zip code also has the lowest median tax rate of 2.49%. Understanding how these areas compare with Liberty provides valuable insights into the varying tax landscape across Lycoming County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Liberty Tax Rate
2.49%
Average Lycoming County Tax Rate
2.61%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Liberty, Lycoming County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16930 | 2.49% | 2.49% | 2.49% | 2.49% | 2.49% |
Source: Ownwell
Property Tax Assessment Values Across Liberty, Lycoming County, Pennsylvania
In Liberty, 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 Lycoming 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 Liberty, 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 Liberty helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Liberty is $2,370 in zip code 16930, and the lowest median tax bill is also $2,370 in the same zip code.
Property Tax Assessment Values Across Liberty, Lycoming County, Pennsylvania
Source: Ownwell
$32,000
$76,498
$120,995
Average Liberty Assessed Value
$95,250
Average Lycoming County Assessed Value
$87,660
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Liberty, Lycoming County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16930 | $60,195 | $76,520 | $95,250 | $106,755 | $136,404 |
Source: Ownwell
Property Tax Bills Across Liberty, Lycoming County, Pennsylvania
In Liberty, located in Lycoming County, PA, property tax bills are determined based on the assessed value of a home rather than its market value. The median home price in Liberty is $95,250. Homeowners' tax bills can vary significantly, influenced by the assessed value and the local tax rate. For instance, tax bills at the 25th percentile are around $1,904, while those at the 75th percentile reach approximately $2,656. The highest tax bills, at the 90th percentile, can climb to $3,394. These property tax rates can have a substantial impact on homeowners, affecting their annual financial planning and overall cost of homeownership. Compared to the national median property tax rate of 0.99%, the property taxes in Liberty can be relatively high, reflecting the specific fiscal needs and public services of the area. Understanding these factors can help homeowners anticipate their annual obligations and make informed decisions regarding their properties.
Average Liberty Tax Bill
$2,370
Average Lycoming County Tax Bill
$2,556
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Liberty, Lycoming County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16930 | $1,498 | $1,904 | $2,370 | $2,656 | $3,394 |
Source: Ownwell