South Gibson, Pennsylvania Property Taxes
The median property tax rate in South Gibson, PA is 3.02%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in South Gibson at $49,200, the typical annual property tax bill reaches $1,485, which is below the national median of $2,690. Property taxes in South Gibson 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 South Gibson'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 South Gibson 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
South Gibson, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.02%
Estimate Property Tax Bill
$1,486
Ownwell’s South Gibson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in South Gibson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in South Gibson 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 South Gibson, Pennsylvania
Property taxes in South Gibson, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in South Gibson is 3.02%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within South Gibson set these rates annually, and they can vary significantly across different neighborhoods. Each year, South Gibson 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 South Gibson's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 18842 zip code has the highest median property tax rate of 3.02%, while the same zip code also has the lowest median tax rate of 3.02%. Understanding how these cities compare with South Gibson 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 South Gibson Tax Rate
3.02%
Average Susquehanna County Tax Rate
3.31%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across South Gibson, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18842 | 3.02% | 3.02% | 3.02% | 3.02% | 3.02% |
Source: Ownwell
Property Tax Assessment Values Across South Gibson, Pennsylvania
In South Gibson, 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 South Gibson, 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. With a median home price of $49,200, understanding the distinction between these valuation concepts can help property owners navigate their tax responsibilities more effectively. For instance, the highest median tax bill in the area is $1,485 in the 18842 zip code. By being aware of these valuation processes, property owners can identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average South Gibson Assessed Value
$49,200
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 South Gibson, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18842 | $7,560 | $27,400 | $49,200 | $67,400 | $88,940 |
Source: Ownwell
Property Tax Bills Across South Gibson, Pennsylvania
In South Gibson, located in Susquehanna County, PA, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor, who evaluates the property’s market value. This assessed value is then multiplied by the local tax rate to calculate the annual property tax bill. For homeowners in South Gibson, the median home price is $49,200. Property tax bills can vary significantly, with the 25th percentile tax bill at $827, while the 75th percentile tax bill reaches $2,034, and the 90th percentile tax bill can go up to $2,684. These figures illustrate the range of property taxes that homeowners might expect to pay, depending on the value of their property and the specific tax rates applied. In comparison to the national median property tax rate of 0.99%, South Gibson's property tax rates can have a substantial impact on homeowners, affecting their annual expenses and overall financial planning.
Average South Gibson Tax Bill
$1,485
Average Susquehanna County Tax Bill
$1,338
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across South Gibson, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18842 | $228 | $827 | $1,485 | $2,034 | $2,684 |
Source: Ownwell