University Park, Centre County, Pennsylvania Property Taxes

Name: Property Tax Bills Across University Park, Centre County, Pennsylvania
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median University Park, PA effective property tax rate: 3.08%, significantly higher than the national median of 1.02%, but lower than the Pennsylvania state median of 2.81%.
Median University Park, PA home value: $144,090
Median annual University Park, PA tax bill: $4,437, $2,037 higher than the national median property tax bill of $2,400.

How are property taxes in Centre calculated?

Property taxes in University Park, PA are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding University Park’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in University Park, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

University Park, Centre County, Pennsylvania Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

3.08%

Estimate Property Tax Bill

$4,438

$4,118

Ownwell’s University Park Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in University Park with just two data points. By entering your property's estimated assessed value, our calculator applies University Park’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Centre County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across University Park, Centre County, Pennsylvania

Local government entities in Pennsylvania, like those across the country, are responsible for setting property tax rates, which can vary significantly within the state. Each year, counties such as Centre estimate their required budget to provide essential services and divide this by the total value of all taxable property within their jurisdiction. This calculation results in the property tax rate. While votes and legislation play a role in determining tax rates and budgets, this annual process is the core method of setting them.

Comparing University Park’s effective property tax rate with other cities in Pennsylvania and the national average highlights the diversity of property tax rates. University Park, located in Centre County, has an effective property tax rate of 3.08%, significantly higher than the national median of 1.02%. This means that homeowners in University Park face a property tax rate that is notably above the national average, impacting their annual property tax bills. Understanding these differences is crucial for property owners considering an appeal or exemption, as it directly affects their financial planning and obligations.

Property Tax Rates Across University Park, Centre County, Pennsylvania

Source: Ownwell

1.80%

2.92%

4.04%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective University Park Tax Rate

3.08%

Median Effective Centre County Tax Rate

3.13%

Median Effective Pennsylvania Tax Rate

2.81%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across University Park, Centre County, Pennsylvania

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
16802	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across University Park, Centre County, Pennsylvania

When examining property taxes in University Park, PA, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Centre County Tax Assessment Office estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.

In Centre County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of March. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in University Park. For example, the median home price in University Park is $144,090, with tax bills ranging significantly across the county.

Property Tax Assessment Values Across University Park, Centre County, Pennsylvania

Source: Ownwell

$21,600

$79,740

$137,880

Median University Park Market Value

$144,090

Median Centre County Market Value

$97,340

Median Pennsylvania Market Value

$114,400

Median United States Market Value

$235,294

Property Tax Assessment Values Across University Park, Centre County, Pennsylvania

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
16802	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across University Park, Centre County, Pennsylvania

In University Park, PA, property tax bills are calculated based on the assessed value of a home, which is determined by the local taxing authority. The assessed value is then multiplied by the local property tax rate to determine the annual tax bill. In University Park, the median home price stands at $144,090. While the national median property tax rate is 1.02%, homeowners in University Park face a significantly higher tax burden, with the tax bill at various percentiles, including the 25th, 75th, and 90th, being $4,437. This is considerably above the national median property tax bill of $2,400, indicating that homeowners in this area may be paying more than their fair share. Factors such as location, property size, and market trends can all influence the assessed value. Ownwell can assist homeowners by identifying potential errors in the assessment, filing appeals, and securing exemptions, ultimately helping to reduce the tax burden and ensure that they are not overpaying on their property taxes.

Property Tax Bills Across University Park, Centre County, Pennsylvania

Source: Ownwell

$544

$2,489

$4,433

Median University Park Tax Bill

$4,437

Median Centre County Tax Bill

$3,173

Median Pennsylvania Tax Bill

$3,063

Median United States Tax Bill

$2,400

Property Tax Bills Across University Park, Centre County, Pennsylvania

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
16802	N/A	N/A	N/A	N/A	N/A

Source: Ownwell