Oil City, Venango County, Pennsylvania Property Taxes
Property Taxes in Oil City, Pennsylvania
Median Oil City, Pennsylvania effective property tax rate: 3.72%, significantly higher than the national median of 1.02%, and higher than the Pennsylvania state median of 2.75%.
Median Oil City, Pennsylvania home value: $39,765
Median annual Oil City, Pennsylvania tax bill: $1,357, lower than the national median property tax bill of $2,400.
How are property taxes in Venango calculated?
Property taxes in Oil City, Pennsylvania 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 Oil City's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Oil City, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
Oil City, Venango County, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
3.72%
Estimate Property Tax Bill
$1,479
$1,373
How Does the Oil City Property Tax Calculator Work?
Use this Oil City property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Oil City’s median effective tax rate of 3.72% — based on actual property records in Venango County — to generate your estimate.
Enter your property's estimated assessed value — the figure the local assessment system uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Oil City’s median effective rate across all local levies, providing a more accurate estimate than applying a single county millage rate.
Your bill may vary by ZIP code within Oil City: rates range from 3.72% in 16301 to 3.72% in 16301, primarily due to differences in school district levies and local assessment districts.
For a more precise estimate, scroll down to explore ZIP code-level tax rate trends across Oil City.
About Oil City Property Taxes
About Property Taxes in Oil City, Venango, Pennsylvania
Oil City’s median effective property tax rate of 3.72% is higher than the Pennsylvania state median of 2.75% and higher than the national median of 1.02%. This rate reflects the Venango County base levy combined with local school district levies and special taxing districts that vary by subdivision throughout the city.
Property tax rates are not uniform across Oil City. Homeowners in the 16301 ZIP code carry a median effective rate of 3.72%, while those in the lowest ZIP also pay 3.72%. This spread reflects how school district boundaries and local assessment districts are drawn across Venango County.
Oil City homeowners who believe their assessed value is too high can file a formal appeal with the local Tax Assessor before August 1, 2026.
If your estimated bill seems higher than expected, Ownwell can review your assessment and protest on your behalf. You only pay if we save you money.
Property Tax Rates Across Oil City, Venango County, Pennsylvania
As noted earlier, local government entities set tax rates, which can vary widely within a state.
Why? Because annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate.
While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.
Below, you can compare Oil City’s effective property tax rate to other cities in Pennsylvania and the median property tax rates in Pennsylvania and the U.S.
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 Oil City Tax Rate
3.72%
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 Venango County Tax Rate
2.63%
Median Effective Pennsylvania Tax Rate
2.75%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Oil City, Venango County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16301 | 2.47% | 2.61% | 3.72% | 3.73% | 3.73% |
Source: Ownwell
Property Tax Assessment Values Across Oil City, Venango County, Pennsylvania
When examining property taxes in Oil City, 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 Venango County 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.
Assessment notices:
In Venango County, assessment notices are sent in the spring each year. They'll typically reach your mailbox by the middle of the season.
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 Oil City.
For example, the median home price in Oil City is $39,765, with tax bills ranging significantly across the county. 16301 has the highest median home price at $39,765.
Property Tax Assessment Values Across Oil City, Venango County, Pennsylvania
Source: Ownwell
$35,465
$52,488
$69,510
Median Oil City Market Value
$39,765
Median Venango County Market Value
$44,410
Median Pennsylvania Market Value
$118,310
Median United States Market Value
$235,294
Property Tax Assessment Values Across Oil City, Venango County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16301 | $6,137 | $23,255 | $39,765 | $68,600 | $104,789 |
Source: Ownwell
Property Tax Bills Across Oil City, Venango County, Pennsylvania
Property tax bills in Oil City are based on the assessed value of a home, not its market price. Local tax rates are applied to that assessed value to determine the annual bill, and those rates can vary depending on the taxing authorities that serve the property. The bill reflects both the home’s value and the local levy structure, so two similar homes can owe different amounts if their assessments or location-based rates differ.
For homeowners, this means a lower assessed value can reduce the tax burden, while a higher assessment can raise it. In Oil City, the median home price is $39,765, and the median tax bill in ZIP code 16301 is $1,357. That is below the national median property tax bill of $2,400 and also below the national median property tax rate of 1.02%. Bills in the area can still vary widely, with the 25th percentile at $896 and the 90th percentile at $3,170.
Median Oil City Tax Bill
$1,357
Median Venango County Tax Bill
$1,483
Median Pennsylvania Tax Bill
$3,050
Median United States Tax Bill
$2,400
Property Tax Bills Across Oil City, Venango County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16301 | $469 | $896 | $1,357 | $2,096 | $3,170 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | September 1 |
Links | |
|---|---|
| Venango Tax Assessor | |
| Website | gis.venangopa.us |