Nicholson, Pennsylvania Property Taxes
The median property tax rate in Nicholson, PA is 6.07%, significantly higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Nicholson at $42,505, the typical annual property tax bill reaches $2,730, slightly above the national median of $2,690. Property taxes in Nicholson 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 Nicholson'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 Nicholson or another part of Wyoming County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Nicholson, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
6.07%
Estimate Property Tax Bill
$2,580
-$27,039
Ownwell’s Nicholson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Nicholson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Nicholson 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 Nicholson, Pennsylvania
Property taxes in Nicholson, Pennsylvania, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Nicholson is 6.07%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Nicholson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Nicholson 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 Nicholson's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the zip code 18446 has both the highest and lowest median property tax rate of 6.07%. Understanding how these areas compare with Nicholson 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 Nicholson Tax Rate
6.07%
Average Wyoming County Tax Rate
5.74%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Nicholson, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18446 | 6.07% | 6.07% | 6.07% | 6.70% | 6.70% |
Source: Ownwell
Property Tax Assessment Values Across Nicholson, Pennsylvania
In Nicholson, 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 Nicholson, 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 Nicholson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 18446 has the highest and lowest median tax bill at $2730.
Average Nicholson Assessed Value
$42,505
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 Nicholson, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18446 | $17,610 | $29,265 | $42,505 | $61,598 | $94,590 |
Source: Ownwell
Property Tax Bills Across Nicholson, Pennsylvania
In Nicholson, Wyoming County, PA, property tax bills are calculated based on the assessed value of your home and the local tax rate. The assessed value is determined by the county assessor and reflects a percentage of the market value of your property. This assessed value is then multiplied by the local tax rate to determine your annual property tax bill. Several factors influence the assessed value, including property size, location, and improvements. Homeowners in Nicholson typically experience property tax bills ranging from $1,916 at the 25th percentile to $3,898 at the 75th percentile, with the 90th percentile reaching up to $5,907. The median home price in Nicholson is $42,505, which is relatively low compared to national standards, but the property tax rate can still significantly impact homeowners. For instance, in the ZIP code 18446, the highest and lowest median tax bills are both $2,730, indicating a consistent tax rate across the area. Understanding these factors helps homeowners budget effectively and anticipate their annual expenses.
Average Nicholson Tax Bill
$2,730
Average Wyoming County Tax Bill
$2,930
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Nicholson, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18446 | $1,193 | $1,916 | $2,730 | $3,898 | $5,907 |
Source: Ownwell