Bear Lake, Warren County, Pennsylvania Property Taxes
The median property tax rate in Bear Lake, PA is 3.29%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Bear Lake at $35,456, the typical annual property tax bill reaches $1,124, exceeding the national median of $2,690. Property taxes in Bear Lake 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 Bear Lake'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 Bear Lake 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
Bear Lake, Warren County, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.29%
Estimate Property Tax Bill
$1,167
$1,082
Ownwell’s Bear Lake Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bear Lake with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bear Lake 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 Bear Lake, Warren County, Pennsylvania
Property taxes in Bear Lake, Pennsylvania, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bear Lake is 3.29%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Bear Lake set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bear Lake 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 Bear Lake's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 16402 zip code has the highest median property tax rate of 3.29%, while the same zip code also has the lowest median tax rate of 3.29%. Understanding how these cities compare with Bear Lake provides valuable insights into the varying tax landscape across Warren County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bear Lake Tax Rate
3.29%
Average Warren County Tax Rate
3.99%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bear Lake, Warren County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16402 | 2.22% | 2.81% | 3.29% | 4.08% | 4.28% |
Source: Ownwell
Property Tax Assessment Values Across Bear Lake, Warren County, Pennsylvania
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Bear Lake, Pennsylvania. 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 Warren 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 Bear Lake, 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 tax bill in Warren County is $1,124, with the highest and lowest median tax bills both occurring in the 16402 zip code. 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 Bear Lake helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Bear Lake, Warren County, Pennsylvania
Source: Ownwell
$14,537
$31,530
$48,523
Average Bear Lake Assessed Value
$35,456
Average Warren County Assessed Value
$33,691
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bear Lake, Warren County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16402 | $13,338 | $23,534 | $35,456 | $49,632 | $69,978 |
Source: Ownwell
Property Tax Bills Across Bear Lake, Warren County, Pennsylvania
In Bear Lake, PA, property tax bills are calculated based on the assessed value of the home, which is determined by the local tax assessor. This assessed value typically reflects a percentage of the property's market value. The tax rate, applied to this assessed value, is expressed as a millage rate—a certain amount per $1,000 of assessed value. Homeowners in Bear Lake can expect varying tax bills depending on their property's assessed value. For instance, the tax bill at the 25th percentile is $674, while at the 75th percentile, it rises to $1,619. The highest tax bills in Bear Lake reach up to $2,224, which is significantly higher than the national median property tax rate of 0.99%. These property taxes fund essential local services such as schools, public safety, and infrastructure. Therefore, understanding how property tax bills are calculated and the factors influencing them is crucial for homeowners to manage their financial planning effectively.
Average Bear Lake Tax Bill
$1,124
Average Warren County Tax Bill
$1,260
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Bear Lake, Warren County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16402 | $381 | $674 | $1,124 | $1,619 | $2,224 |
Source: Ownwell