Nicholson, Pennsylvania Property Taxes
The median property tax rate in Nicholson, PA is 2.88%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Nicholson, the typical annual property tax bill reaches $644, which is below the national median of $2,690. Property taxes in Nicholson 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 Nicholson'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 Nicholson 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
Nicholson, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.88%
Estimate Property Tax Bill
$628
Ownwell’s Nicholson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Nicholson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Nicholson 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 Nicholson, Pennsylvania
Property taxes in Nicholson, Pennsylvania, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Nicholson is 2.88%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Nicholson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Nicholson 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 Nicholson's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 18446 zip code has the highest median property tax rate of 2.88%, while the 18446 zip code also has the lowest median tax rate of 2.88%. Understanding how these cities compare with Nicholson provides valuable insights into the varying tax landscape across Susquehanna County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Nicholson Tax Rate
2.88%
Average Susquehanna County Tax Rate
3.31%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Nicholson, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18446 | 2.88% | 2.88% | 2.88% | 2.89% | 3.41% |
Source: Ownwell
Property Tax Assessment Values Across Nicholson, Pennsylvania
In Nicholson, 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 Susquehanna 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 Nicholson, 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 Nicholson is $21,800, with the 25th percentile tax bill at $249 and the 75th percentile at $1,307. The highest and lowest median tax bills are both $644 in zip code 18446. 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 Nicholson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Nicholson Assessed Value
$21,800
Average Susquehanna County Assessed Value
$40,400
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Nicholson, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18446 | $2,000 | $8,600 | $21,800 | $42,900 | $67,400 |
Source: Ownwell
Property Tax Bills Across Nicholson, Pennsylvania
In Nicholson, located in Susquehanna 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 a percentage of the property's market value. Homeowners in Nicholson experience a range of property tax bills, with the 25th percentile at $249 and the 75th percentile reaching $1,307. The 90th percentile tax bill can go up to $1,962. These tax bills are influenced by various factors, including the property's assessed value, local tax rates, and any applicable exemptions or deductions. For instance, the median home price in Nicholson is $21,800, which significantly impacts the tax calculations. Compared to the national median property tax rate of 0.99%, Nicholson's property taxes can appear relatively modest. However, they still represent a significant expense for homeowners, affecting their overall cost of living and financial planning. Understanding these factors helps homeowners anticipate their annual property tax obligations and manage their budgets accordingly.
Average Nicholson Tax Bill
$644
Average Susquehanna County Tax Bill
$1,338
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Nicholson, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18446 | $58 | $249 | $644 | $1,307 | $1,962 |
Source: Ownwell