Nicktown, Pennsylvania Property Taxes
The median property tax rate in Nicktown, PA is 9.25%, significantly higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With a median home value of $17,500 in Nicktown, the typical annual property tax bill amounts to $1,619, surpassing the national median of $2,690. Property taxes in Nicktown are calculated based on the assessed value, which often falls below the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Nicktown's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Nicktown or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Nicktown, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
9.25%
Estimate Property Tax Bill
$1,619
Ownwell’s Nicktown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Nicktown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Nicktown 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 Nicktown, Pennsylvania
Property taxes in Nicktown, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Nicktown is 9.25%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Nicktown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Nicktown 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 Nicktown's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the zip code 15762 has both the highest and lowest median property tax rate of 9.25%. Understanding how these areas compare with Nicktown provides valuable insights into the varying tax landscape across Cambria County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Nicktown Tax Rate
9.25%
Average Cambria County Tax Rate
10.13%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Nicktown, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15762 | 9.25% | 9.25% | 9.25% | 9.25% | 9.25% |
Source: Ownwell
Property Tax Assessment Values Across Nicktown, Pennsylvania
In Nicktown, 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 Cambria 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 Nicktown, 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 Nicktown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Nicktown is $1,619, and the lowest median tax bill is also $1,619, both found in the zip code 15762.
Average Nicktown Assessed Value
$17,500
Average Cambria County Assessed Value
$12,040
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Nicktown, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15762 | $5,680 | $10,055 | $17,500 | $25,890 | $31,880 |
Source: Ownwell
Property Tax Bills Across Nicktown, Pennsylvania
In Nicktown, located in Cambria County, PA, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county’s property assessor, who evaluates the property's market value and then applies an assessment ratio. Homeowners in Nicktown experience varying tax bills, with the 25th percentile paying around $930 and the 75th percentile facing bills up to $2,395. For those at the 90th percentile, tax bills can reach as high as $2,991. Compared to the national median property tax rate of 0.99%, Nicktown's tax rates reflect the unique economic and market conditions of the area. Factors such as property size, location, and market trends significantly influence the assessed value and, consequently, the tax bill. These property taxes directly impact homeowners by contributing to local services like schools, infrastructure, and emergency services, making it crucial for residents to understand their tax obligations and how they are determined.
Average Nicktown Tax Bill
$1,619
Average Cambria County Tax Bill
$1,315
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Nicktown, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15762 | $525 | $930 | $1,619 | $2,395 | $2,991 |
Source: Ownwell