Wood, Bedford County, Pennsylvania Property Taxes
Last Updated March 1, 2025
Wood, Bedford County, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.79%
Estimate Property Tax Bill
$553
$513
Property Tax Rates Across Wood, Bedford County, Pennsylvania
Local government entities set tax rates, which can vary widely within a state. This variation occurs because each county annually estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. While votes and laws are involved in setting tax rates and budgets, this is the annual process in a nutshell.
In Wood, located in Bedford County, Pennsylvania, the effective property tax rate is a key consideration for homeowners. Pennsylvania's median property tax rate stands at 1.55%, which is higher than the national median of 1.02%. This means that property owners in Wood may face a higher tax burden compared to the national average. The property tax rate in Wood is consistent with the highest and lowest median rates found in Pennsylvania, both recorded at 1.55%. Comparing Wood's property tax rate to other cities within Pennsylvania can provide valuable insights for potential homeowners. Understanding these rates is crucial for making informed decisions about property investments and managing long-term costs.
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 Wood Tax Rate
1.79%
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 Bedford County Tax Rate
1.62%
Median Effective Pennsylvania Tax Rate
2.75%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Wood, Bedford County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16694 | 1.79% | 1.79% | 1.79% | 1.80% | 1.80% |
Source: Ownwell
Property Tax Assessment Values Across Wood, Bedford County, Pennsylvania
When examining property taxes in Wood, 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 Bedford 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 Bedford County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. 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 Wood.
For example, the median home price in Wood is $30,100, with tax bills ranging significantly across the county. Zip code 16694 has the highest median home price at $30,100.
Property Tax Assessment Values Across Wood, Bedford County, Pennsylvania
Source: Ownwell
$30,900
$116,350
$201,800
Median Wood Market Value
$30,900
Median Bedford County Market Value
$99,100
Median Pennsylvania Market Value
$118,310
Median United States Market Value
$235,294
Property Tax Assessment Values Across Wood, Bedford County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16694 | $19,000 | $23,400 | $30,900 | $56,400 | $74,100 |
Source: Ownwell
Property Tax Bills Across Wood, Bedford County, Pennsylvania
In Wood, located in Bedford County, PA, property tax bills are calculated based on the assessed value of a home. This value is determined by the local tax assessor and reflects the property's market value. Homeowners in Wood can expect a median property tax bill of $466, which is significantly lower than the national median of $2,400. Factors such as the property's size, location, and condition can influence the assessed value, thereby affecting the tax bill. For homeowners, this means that any changes in property value can lead to variations in their annual tax obligations.
Ownwell assists homeowners by providing expert property tax appeal services, helping them potentially lower their tax bills. By reviewing the assessed value and ensuring it accurately reflects the market value, Ownwell can identify discrepancies and file appeals on behalf of homeowners. This service can lead to substantial savings, especially for those whose properties have been over-assessed. With Ownwell's expertise, homeowners in Wood can ensure they are not overpaying on their property taxes.
Median Wood Tax Bill
$555
Median Bedford County Tax Bill
$1,648
Median Pennsylvania Tax Bill
$3,050
Median United States Tax Bill
$2,400
Property Tax Bills Across Wood, Bedford County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16694 | $341 | $420 | $555 | $1,012 | $1,330 |
Source: Ownwell