What is the property tax rate?

The property tax rate in Pennsylvania varies depending on the county in which the property is located. Generally, the tax rate is based on the millage rate, which is the amount of tax per every $1,000 of assessed property value. For example, if the millage rate is 10 mills and the assessed property value is $100,000, then the property owner would pay $1,000 in taxes. In Pennsylvania, there is a statewide base millage rate of 4.071 mills. This rate is multiplied by the county’s assessment ratio, which is the value of the property compared to its actual market value, to determine the tax rate. Assessment ratios can range from 0.54 to 1.32, and the higher the ratio, the higher the tax rate. In addition to the annual property tax rate, many counties also impose additional taxes such as the local services tax, which is typically 0.5 mills, and the earned income tax, which is usually 1%. These rates can vary from county to county, so it’s important to be aware of the taxes that apply in your area. Overall, the property tax rate in Pennsylvania can vary greatly depending on the location and the assessed value of the property. By researching the millage rate and the assessment ratio in your county, you can get an accurate estimate of how much you will have to pay in taxes. It is also important to take into account any additional taxes or fees that may be applicable.

Related FAQs

What is a Property Tax Levy?
What is the due date for my property taxes?
Who is responsible for paying property taxes?
What is a “split roll” property tax system?
What is an assessment ratio?
How do I resolve property tax disputes?
How can I appeal my property taxes?
What is a property tax rebate?
What are the penalties for late payment of property taxes?
What happens if my property value increases?

What is the property tax rate?

Related FAQs

Related Blog Posts