North Bingham, Pennsylvania Property Taxes
The median property tax rate in North Bingham, PA is 5.32%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in North Bingham at $28,420, the typical annual property tax bill reaches $1,513, which is lower than the national median of $2,690. Property taxes in North Bingham 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 North Bingham'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 North Bingham or another part of Potter County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
North Bingham, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
5.32%
Estimate Property Tax Bill
$1,512
Ownwell’s NORTH BINGHAM Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in NORTH BINGHAM with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in NORTH BINGHAM 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 North Bingham, Pennsylvania
Property taxes in North Bingham, Pennsylvania, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in North Bingham is 1.46%, higher than both the Pennsylvania state median of 1.35% and the U.S. national median of 0.99%. Local government entities within North Bingham set these rates annually, and they can vary significantly across different neighborhoods. Each year, North Bingham 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 North Bingham's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 16941 zip code has the highest median property tax rate of 1.46%, while the 16941 zip code also has the lowest median tax rate of 1.46%. Understanding how these cities compare with North Bingham provides valuable insights into the varying tax landscape across Potter County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average North Bingham Tax Rate
5.32%
Average Potter County Tax Rate
6.53%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across North Bingham, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16941 | 5.32% | 5.32% | 5.32% | 5.32% | 5.32% |
Source: Ownwell
Property Tax Assessment Values Across North Bingham, Pennsylvania
In North Bingham, 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 Potter 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 North Bingham, 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 North Bingham helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in North Bingham are both $1,513, found in zip code 16941.
Property Tax Assessment Values Across North Bingham, Pennsylvania
Source: Ownwell
$8,430
$18,425
$28,420
Average North Bingham Assessed Value
$28,420
Average Potter County Assessed Value
$13,240
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across North Bingham, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16941 | $28,420 | $28,420 | $28,420 | $28,420 | $28,420 |
Source: Ownwell
Property Tax Bills Across North Bingham, Pennsylvania
In North Bingham, 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 tax rate to calculate the annual tax bill. In North Bingham, located in Potter County, the median home price is $28,420. Homeowners in this area can expect a median tax bill of $1,513, which is significantly higher than the national median property tax rate of 0.99%. Several factors influence the property tax bill, including the home's assessed value, the local tax rate, and any applicable exemptions or deductions. For instance, the tax bills at the 25th, 75th, and 90th percentiles are all $1,513, indicating a consistent tax rate across different property values within the city. This consistency can impact homeowners by providing a predictable tax expense, but it also highlights the relatively high property tax burden in North Bingham compared to other regions. Understanding these factors can help homeowners better manage their finances and plan for future tax obligations.
Average North Bingham Tax Bill
$1,513
Average Potter County Tax Bill
$970
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across North Bingham, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16941 | $1,513 | $1,513 | $1,513 | $1,513 | $1,513 |
Source: Ownwell