Millsboro, Pennsylvania Property Taxes
The median property tax rate in Millsboro, PA is 1.73%, which is significantly lower than the Pennsylvania state median of 2.81% but still higher than the national median of 0.99%. With a median home value of $74,100 in Millsboro, the typical annual property tax bill amounts to $1,285, which is below the national median of $2,690. Property taxes in Millsboro are calculated based on the tax assessed value, which is often less than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Millsboro's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Millsboro or elsewhere in the city, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Millsboro, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.73%
Estimate Property Tax Bill
$1,282
Ownwell’s Millsboro Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Millsboro with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Millsboro 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 Millsboro, Pennsylvania
Property taxes in Millsboro, Pennsylvania, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Millsboro is 1.73%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Millsboro set these rates annually, and they can vary significantly across different neighborhoods. Each year, Millsboro 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 Millsboro's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the zip code 15348 has the highest median property tax rate of 1.73%, while the same zip code also has the lowest median tax rate of 1.73%. Understanding how these cities compare with Millsboro provides valuable insights into the varying tax landscape across Washington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Millsboro Tax Rate
1.73%
Average Washington County Tax Rate
1.79%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Millsboro, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15348 | 1.73% | 1.73% | 1.73% | 1.73% | 1.73% |
Source: Ownwell
Property Tax Assessment Values Across Millsboro, Pennsylvania
In Millsboro, 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 Washington County Appraisal District 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. 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 Millsboro helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 15348, with a median tax bill of $1,285.
Average Millsboro Assessed Value
$74,100
Average Washington County Assessed Value
$129,900
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Millsboro, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15348 | $40,300 | $54,500 | $74,100 | $103,450 | $135,200 |
Source: Ownwell
Property Tax Bills Across Millsboro, Pennsylvania
In Millsboro, located in Washington County, PA, property tax bills are calculated based on the assessed value of a home, which is determined by the county's assessment office. The median home price in Millsboro is $74,100. Property tax rates in this region are influenced by local government budgets and the funding needs of public services such as schools and infrastructure. Homeowners in Millsboro can expect a range of tax bills depending on their property's assessed value. The 25th percentile tax bill is around $945, while the 75th percentile tax bill reaches $1,793. For those at the 90th percentile, tax bills can go up to $2,344. The highest and lowest median tax bills in the area are both $1,285, indicating a relatively consistent tax rate across different properties. Comparatively, Millsboro's property tax rates are higher than the national median property tax rate of 0.99%. These tax bills can significantly impact homeowners, influencing their overall cost of living and financial planning.
Average Millsboro Tax Bill
$1,285
Average Washington County Tax Bill
$2,319
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Millsboro, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15348 | $699 | $945 | $1,285 | $1,793 | $2,344 |
Source: Ownwell