Bradford, Pennsylvania Property Taxes
The median property tax rate in Bradford, PA is 3.53%, significantly higher than both the national median of 0.99% and Pennsylvania's state median of 2.81%. With the median home value in Bradford at $42,472, the typical annual property tax bill reaches $1,373, surpassing the national median of $2,690. Property taxes in Bradford are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Bradford'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 Bradford or another part of Warren County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bradford, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.53%
Estimate Property Tax Bill
$1,499
Ownwell’s Bradford Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bradford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bradford 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 Bradford, Pennsylvania
Property taxes in Bradford, Pennsylvania, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Bradford is 3.53%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Bradford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bradford 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 Bradford's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 16701 zip code has the highest median property tax rate of 3.53%, while the same zip code also has the lowest median tax rate of 3.53%. Understanding how these cities compare with Bradford 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 Bradford Tax Rate
3.53%
Average Warren County Tax Rate
3.99%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bradford, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16701 | 2.66% | 3.23% | 3.53% | 4.06% | 4.06% |
Source: Ownwell
Property Tax Assessment Values Across Bradford, Pennsylvania
In Bradford, 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 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 Bradford, 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 Bradford helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Bradford is $42,472, with the highest and lowest median tax bills both recorded at $1,373 in zip code 16701.
Average Bradford Assessed Value
$42,472
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 Bradford, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16701 | $22,836 | $27,571 | $42,472 | $65,413 | $73,169 |
Source: Ownwell
Property Tax Bills Across Bradford, Pennsylvania
In Bradford, PA, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is then multiplied by the tax rate set by the local government to determine the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value. For homeowners in Bradford, the median home price stands at $42,472. The tax bill varies significantly, with the 25th percentile at $1,121 and the 75th percentile at $2,306, reflecting differences in property values and assessments. The highest median tax bill in the area is $1,373, found in the 16701 zip code, which is the same as the lowest median tax bill, indicating a consistent tax rate across the region. Compared to the national median property tax rate of 0.99%, Bradford's tax rates can significantly impact homeowners, particularly those with higher-valued properties. Understanding these factors is crucial for homeowners to manage their financial planning effectively.
Average Bradford Tax Bill
$1,373
Average Warren County Tax Bill
$1,260
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Bradford, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16701 | $716 | $1,121 | $1,373 | $2,306 | $2,833 |
Source: Ownwell