Homestead, Pennsylvania Property Taxes
The median property tax rate in Homestead, PA is 3.55%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Homestead at $61,600, the typical annual property tax bill reaches $2,110, which is below the national median of $2,690. Property taxes in Homestead are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Homestead's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Homestead or another part of Allegheny County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Homestead, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.55%
Estimate Property Tax Bill
$2,187
Ownwell’s Homestead Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Homestead with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Homestead to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Homestead, Pennsylvania
Property taxes in Homestead, Pennsylvania, are essential for funding critical local services like public schools, road maintenance, and emergency services. The median tax rate in Homestead is 3.55%, significantly higher than the U.S. national median of 0.99%. Local government entities within Homestead set these rates annually, and they can vary significantly across different neighborhoods. Each year, Homestead estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Homestead's effective property tax rate to other areas in Pennsylvania and the national median. For comparison, the 15120 zip code has the highest median property tax rate of 3.55%, while the same zip code also has the lowest median tax rate of 3.55%. Understanding how these cities compare with Homestead provides valuable insights into the varying tax landscape across Allegheny County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Homestead Tax Rate
3.55%
Average Allegheny County Tax Rate
2.59%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Homestead, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15120 | 1.99% | 3.05% | 3.55% | 4.50% | 4.54% |
Source: Ownwell
Property Tax Assessment Values Across Homestead, Pennsylvania
In Homestead, Pennsylvania, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Allegheny County Assessment Office for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Homestead, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Homestead helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Homestead are both $2,110, corresponding to zip code 15120.
Average Homestead Assessed Value
$61,600
Average Allegheny County Assessed Value
$108,200
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Homestead, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15120 | $21,200 | $36,300 | $61,600 | $85,600 | $112,140 |
Source: Ownwell
Property Tax Bills Across Homestead, Pennsylvania
In Homestead, located in Allegheny County, PA, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This value is then multiplied by the local tax rate to determine the annual tax bill. For instance, the median home price in Homestead is $61,600. Homeowners in the 25th percentile can expect a tax bill around $1,258, while those in the 75th percentile may see bills nearing $3,019. At the 90th percentile, tax bills can reach up to $4,097. These tax rates and assessed values significantly impact homeowners, as they directly influence the affordability and financial planning associated with property ownership. Compared to the national median property tax rate of 0.99%, Homestead's tax bills can be considerably higher, reflecting the local government's reliance on property taxes for funding public services. Consequently, understanding these factors is crucial for homeowners to anticipate their annual expenses and manage their finances effectively.
Average Homestead Tax Bill
$2,110
Average Allegheny County Tax Bill
$2,758
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Homestead, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15120 | $706 | $1,258 | $2,110 | $3,019 | $4,097 |
Source: Ownwell