Morris Run, Tioga County, Pennsylvania Property Taxes
The median property tax rate in Morris Run, PA is 2.62%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Morris Run at $50,550, the typical annual property tax bill reaches $1,326, exceeding the national median of $2,690. Property taxes in Morris Run 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 Morris Run'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 Morris Run or another part of Tioga County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Morris Run, Tioga County, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.62%
Estimate Property Tax Bill
$1,324
$1,229
Ownwell’s Morris Run Property Tax Bill Calculator allows homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Morris Run with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Morris Run 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 Morris Run, Tioga County, Pennsylvania
Property taxes in Morris Run, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Morris Run is 2.62%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Morris Run set these rates annually, and they can vary significantly across different neighborhoods. Each year, Morris Run 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 Morris Run's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the zip code 16939 has the highest median property tax rate of 2.62%, while the same zip code also has the lowest median tax rate of 2.62%. Understanding how these cities compare with Morris Run provides valuable insights into the varying tax landscape across Tioga County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Morris Run Tax Rate
2.62%
Average Tioga County Tax Rate
2.81%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Morris Run, Tioga County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16939 | 2.62% | 2.62% | 2.62% | 2.62% | 2.62% |
Source: Ownwell
Property Tax Assessment Values Across Morris Run, Tioga County, Pennsylvania
In Morris Run, 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 Tioga 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 Morris Run, 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. Morris Run homeowners should note that the median home price is $50,550, with tax bills ranging from $988 at the 25th percentile to $2,397 at the 90th percentile. The highest and lowest median tax bills are both $1,326, found in the 16939 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Morris Run, Tioga County, Pennsylvania
Source: Ownwell
$46,590
$71,708
$96,825
Average Morris Run Assessed Value
$50,550
Average Tioga County Assessed Value
$70,440
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Morris Run, Tioga County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16939 | $28,388 | $37,680 | $50,550 | $67,000 | $91,378 |
Source: Ownwell
Property Tax Bills Across Morris Run, Tioga County, Pennsylvania
In Morris Run, Tioga County, PA, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by local assessors and reflects a percentage of the market value of the property. Homeowners in Morris Run typically see a range of property tax bills, with the 25th percentile at $988 and the 75th percentile reaching $1,757. At the 90th percentile, the tax bill can go up to $2,397. The median home price in Morris Run is $50,550, which influences the overall tax burden. This assessed value is then multiplied by the local tax rate to determine the annual property tax owed. For context, the national median property tax rate stands at 0.99%. Homeowners in Morris Run experience tax bills that can vary significantly, affecting their financial planning and long-term investment in their properties. By understanding these factors, homeowners can better anticipate their annual property tax obligations and plan accordingly.
Average Morris Run Tax Bill
$1,326
Average Tioga County Tax Bill
$1,960
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Morris Run, Tioga County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16939 | $745 | $988 | $1,326 | $1,757 | $2,397 |
Source: Ownwell