Factoryville, Pennsylvania Property Taxes
The median property tax rate in Factoryville, PA is 5.76%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Factoryville, the typical annual property tax bill reaches $3,333, exceeding the national median of $2,690. Property taxes in Factoryville 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 Factoryville'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 Factoryville 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
Factoryville, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
5.76%
Estimate Property Tax Bill
$3,106
-$32,552
Ownwell’s Factoryville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Factoryville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Factoryville 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 Factoryville, Pennsylvania
Property taxes in Factoryville, Pennsylvania, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Factoryville is 5.76%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Factoryville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Factoryville 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 Factoryville's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 18419 zip code has the highest median property tax rate of 5.76%, while the same zip code also has the lowest median tax rate of 5.76%. Understanding how these cities compare with Factoryville provides valuable insights into the varying tax landscape across Wyoming County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Factoryville Tax Rate
5.76%
Average Wyoming County Tax Rate
5.74%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Factoryville, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18419 | 5.66% | 5.66% | 5.76% | 6.08% | 6.99% |
Source: Ownwell
Property Tax Assessment Values Across Factoryville, Pennsylvania
In Factoryville, 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 Wyoming 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 Factoryville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code with the highest and lowest median tax bill is 18419, with a median tax bill of $3,333.
Property Tax Assessment Values Across Factoryville, Pennsylvania
Source: Ownwell
$25,290
$48,695
$72,100
Average Factoryville Assessed Value
$53,925
Average Wyoming County Assessed Value
$49,130
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Factoryville, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18419 | $24,573 | $37,485 | $53,925 | $79,315 | $106,647 |
Source: Ownwell
Property Tax Bills Across Factoryville, Pennsylvania
In Factoryville, Wyoming County, PA, property tax bills are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is a percentage of the market value of the home, which is determined by the county assessor. For homeowners in Factoryville, the median home price is $53,925. With a tax bill ranging from the 25th percentile at $2,312 to the 90th percentile at $6,348, the property tax rate here can be notably higher than the national median of 0.99%. Several factors influence the final tax bill, including the property's location, size, and improvements. These taxes fund essential public services such as schools, emergency services, and infrastructure maintenance, directly impacting the community's quality of life. For homeowners, understanding how these factors contribute to their tax bill can help in planning and budgeting for annual expenses. High property taxes can affect affordability, but they also reflect the investment in community services and amenities.
Average Factoryville Tax Bill
$3,333
Average Wyoming County Tax Bill
$2,930
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Factoryville, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18419 | $1,566 | $2,312 | $3,333 | $4,719 | $6,348 |
Source: Ownwell