Oakmont, Pennsylvania Property Taxes
The median property tax rate in Oakmont, PA is 2.98%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Oakmont at $155,000, the typical annual property tax bill reaches $4,654, exceeding the national median of $2,690. Property taxes in Oakmont 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 Oakmont'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 Oakmont 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
Oakmont, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.98%
Estimate Property Tax Bill
$4,619
Ownwell’s Oakmont Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Oakmont with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Oakmont 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 Oakmont, Pennsylvania
Property taxes in Oakmont, Pennsylvania, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Oakmont is 2.98%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Oakmont set these rates annually, and they can vary significantly across different neighborhoods. Each year, Oakmont 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 Oakmont's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 15139 zip code has the highest median property tax rate of 2.98%, while the same zip code also has the lowest median tax rate of 2.98%. Understanding how these cities compare with Oakmont 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 Oakmont Tax Rate
2.98%
Average Allegheny County Tax Rate
2.59%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Oakmont, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15139 | 2.68% | 2.81% | 2.98% | 3.21% | 3.21% |
Source: Ownwell
Property Tax Assessment Values Across Oakmont, Pennsylvania
In Oakmont, 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 Office of Property Assessments 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 Oakmont, 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 Oakmont helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Oakmont is $4,654 in zip code 15139, which is significantly higher than the national median property tax rate of 0.99%.
Average Oakmont Assessed Value
$155,000
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 Oakmont, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15139 | $83,700 | $113,375 | $155,000 | $243,850 | $374,350 |
Source: Ownwell
Property Tax Bills Across Oakmont, Pennsylvania
In Oakmont, property tax bills are determined by multiplying the assessed value of a home by the local tax rate set by Allegheny County. The assessed value is a percentage of the property's market value, which is periodically reassessed to reflect changes in the real estate market. For example, with a median home price of $155,000, homeowners can expect varying tax bills based on their property's assessed value and applicable tax rates. Several factors influence the tax bill, including the property's location within the county, any applicable exemptions, and the specific tax rate for that area. In Oakmont, tax bills range widely, with the 25th percentile at $3,326 and the 75th percentile at $7,575, reaching up to $11,772 at the 90th percentile. This variability can significantly impact homeowners' financial planning and budgeting. Comparatively, Oakmont's property tax rates are notably higher than the national median property tax rate of 0.99%, reflecting the region's specific economic and policy conditions. This makes understanding and managing property taxes crucial for homeowners in Oakmont.
Average Oakmont Tax Bill
$4,654
Average Allegheny County Tax Bill
$2,758
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Oakmont, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15139 | $2,410 | $3,326 | $4,654 | $7,575 | $11,772 |
Source: Ownwell