Falls, Pennsylvania Property Taxes
The median property tax rate in Falls, PA is 5.76%, significantly higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Falls, the typical annual property tax bill reaches $3,073, surpassing the national median of $2,690. Property taxes in Falls are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Falls' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Falls 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
Falls, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
5.76%
Estimate Property Tax Bill
$3,018
-$31,625
Ownwell’s Falls Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Falls with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Falls 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 Falls, Pennsylvania
Property taxes in Falls, Pennsylvania, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Falls is 5.76%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Falls set these rates annually, and they can vary significantly across different neighborhoods. Each year, Falls 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 Falls' effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the zip code 18615 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 areas compare with Falls 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 Falls 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 Falls, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18615 | 5.76% | 5.76% | 5.76% | 6.05% | 6.05% |
Source: Ownwell
Property Tax Assessment Values Across Falls, Pennsylvania
In Falls, 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. In Falls, 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 home price in Falls is $52,390, with tax bills ranging from $2,138 at the 25th percentile to $5,513 at the 90th percentile. 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 Falls helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Falls Assessed Value
$52,390
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 Falls, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18615 | $23,430 | $35,600 | $52,390 | $71,260 | $95,560 |
Source: Ownwell
Property Tax Bills Across Falls, Pennsylvania
Property tax bills in Falls, Wyoming County, PA, are calculated based on the assessed value of a property and the local tax rate. The assessed value is typically a percentage of the property's market value, determined by the county's assessment office. Once the assessed value is established, it is multiplied by the tax rate to calculate the annual property tax bill. In Falls, homeowners face varying tax bills depending on the value of their property. For instance, the 25th percentile tax bill is $2,138, while the 75th percentile tax bill reaches $4,119. At the higher end, the 90th percentile tax bill is $5,513. These figures indicate a significant range in property tax obligations, reflecting differences in property values and possibly the application of exemptions. With the national median property tax rate at 0.99%, Falls homeowners may find their local tax rates and bills higher, impacting their annual financial planning. Understanding these factors helps homeowners anticipate their tax obligations and manage their finances more effectively.
Average Falls Tax Bill
$3,073
Average Wyoming County Tax Bill
$2,930
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Falls, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18615 | $1,458 | $2,138 | $3,073 | $4,119 | $5,513 |
Source: Ownwell