Polk, Mercer County, Pennsylvania Property Taxes

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

Median POLK, PA effective property tax rate: 8.19%, significantly higher than the national median of 1.02%, but lower than the Pennsylvania state median of 2.81%.
Median POLK, PA home value: $2,050
Median annual POLK, PA tax bill: $168, $2,232 lower than the national median property tax bill of $2,400.

How are property taxes in Mercer calculated?

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

Last Updated March 1, 2025

Polk, Mercer County, Pennsylvania Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

8.46%

Estimate Property Tax Bill

$173

$161

Ownwell’s Polk Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Polk with just two data points. By entering your property's estimated assessed value, our calculator applies Polk’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 Mercer County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Polk, Mercer County, Pennsylvania

Local government entities determine tax rates, which can vary significantly within a state. Annually, each county calculates its necessary budget to provide essential services and divides that by the total assessed value of all taxable property in its jurisdiction. This process results in the property tax rate. While votes and regulations play a role in setting tax rates and budgets, this is the core of the annual procedure. In Polk, located in Venango County, Pennsylvania, the effective property tax rate is a notable point of comparison. Polk's property tax rate significantly differs from the national median property tax rate of 1.02%. This variation highlights the diverse landscape of property taxation across different regions. Understanding these differences can be crucial for property owners seeking to manage their tax liabilities effectively. By comparing Polk's effective property tax rate to other cities in Pennsylvania and the national median, property owners can gain insights into how their tax obligations measure up. This comparison underscores the importance of being informed about local tax rates and how they impact property ownership costs.

Property Tax Rates Across Polk, Mercer County, Pennsylvania

Source: Ownwell

8.44%

9.52%

10.61%

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 Polk Tax Rate

8.46%

Median Effective Mercer County Tax Rate

9.91%

Median Effective Pennsylvania Tax Rate

2.75%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Polk, Mercer County, Pennsylvania

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
16342	8.44%	8.44%	8.46%	8.82%	9.17%

Source: Ownwell

Property Tax Assessment Values Across Polk, Mercer County, Pennsylvania

When examining property taxes in Polk, Pennsylvania, 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 Mercer County appraisal district 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 Mercer 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 Polk. For example, the median home price in Polk is $2,050, with tax bills ranging significantly across the county.

Property Tax Assessment Values Across Polk, Mercer County, Pennsylvania

Source: Ownwell

$2,050

$3,200

$4,350

Median Polk Market Value

$2,050

Median Mercer County Market Value

$1,700

Median Pennsylvania Market Value

$118,310

Median United States Market Value

$235,294

Property Tax Assessment Values Across Polk, Mercer County, Pennsylvania

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
16342	$1,500	$1,525	$2,050	$7,775	$8,750

Source: Ownwell

Property Tax Bills Across Polk, Mercer County, Pennsylvania

In Polk, located in Mercer County, PA, property tax bills are calculated based on the property's assessed value, which is a percentage of the market value determined by local assessors. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. With the median home price in Mercer County being $2,050, homeowners in Polk can expect tax bills that vary widely, with the 25th percentile paying around $147 and the 75th percentile paying about $716. This variation highlights the impact of property assessments and local tax rates on homeowners.

Homeowners in Polk face tax bills that can significantly impact their finances, especially when compared to the national median property tax bill of $2,400. Ownwell offers property tax appeal and exemption services that can help homeowners reduce their tax burden. By analyzing property assessments and identifying discrepancies, Ownwell ensures that homeowners only pay their fair share. This service not only helps in lowering tax bills but also provides peace of mind by ensuring accurate assessments.

Property Tax Bills Across Polk, Mercer County, Pennsylvania

Source: Ownwell

$188

$301

$414

Median Polk Tax Bill

$188

Median Mercer County Tax Bill

$177

Median Pennsylvania Tax Bill

$3,050

Median United States Tax Bill

$2,400

Property Tax Bills Across Polk, Mercer County, Pennsylvania

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
16342	$127	$129	$188	$656	$803

Source: Ownwell

Don't miss the deadline to appeal!

Dates

Links
Mercer Tax Assessor
Website	iaspublicaccess.mercercountypa.gov