Driftwood, Elk County, Pennsylvania Property Taxes
Median Driftwood, PA effective property tax rate: 2.90%, significantly higher than the national median of 1.02%, but lower than the Pennsylvania state median of 2.81%.
Median Driftwood, PA home value: $16,500
Median annual Driftwood, PA tax bill: $478, $1,922 lower than the national median property tax bill of $2,400.
How are property taxes in Elk calculated?
Property taxes in Driftwood, 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 Driftwood’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Driftwood, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Driftwood, Elk County, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
3.28%
Estimate Property Tax Bill
$548
$508
Property Tax Rates Across Driftwood, Elk County, Pennsylvania
Local government entities set tax rates, which can vary widely within a state. This variation is due to each county's annual estimation of its required budget to provide services, which is then divided by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While votes and laws play a role in setting tax rates and budgets, this is essentially the annual process.
In Driftwood, located in Elk County, Pennsylvania, the effective property tax rate stands out when compared to other cities in the state and across the nation. With a median property tax rate of 2.90%, it significantly exceeds the national median of 1.02%. This rate also represents the highest in the state, underscoring the variation in property tax rates within Pennsylvania. For residents of Driftwood, this means a higher property tax bill compared to the national median of $2,400. Understanding these differences can help property owners make informed decisions about property tax appeals and exemptions.
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 Driftwood Tax Rate
3.28%
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 Elk County Tax Rate
3.31%
Median Effective Pennsylvania Tax Rate
2.75%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Driftwood, Elk County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15832 | 3.28% | 3.28% | 3.28% | 3.28% | 3.28% |
Source: Ownwell
Property Tax Assessment Values Across Driftwood, Elk County, Pennsylvania
When examining property taxes in Driftwood, 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 Elk 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.
Assessment notices: In Elk 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 Driftwood.
For example, the median home price in Driftwood is $16,500, with tax bills ranging significantly across the county. Zip code 15832 has the highest median home price at $16,500.
Property Tax Assessment Values Across Driftwood, Elk County, Pennsylvania
Source: Ownwell
$12,200
$31,850
$51,500
Median Driftwood Market Value
$16,700
Median Elk County Market Value
$39,600
Median Pennsylvania Market Value
$118,310
Median United States Market Value
$235,294
Property Tax Assessment Values Across Driftwood, Elk County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15832 | $4,070 | $7,800 | $16,700 | $27,375 | $43,060 |
Source: Ownwell
Property Tax Bills Across Driftwood, Elk County, Pennsylvania
Median Driftwood Tax Bill
$547
Median Elk County Tax Bill
$1,455
Median Pennsylvania Tax Bill
$3,050
Median United States Tax Bill
$2,400
Property Tax Bills Across Driftwood, Elk County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15832 | $133 | $256 | $547 | $897 | $1,411 |
Source: Ownwell