Oliver, Pennsylvania Property Taxes
The median property tax rate in Oliver, PA is 2.65%, considerably higher than the national median of 0.99% but slightly below the Pennsylvania state median of 2.81%. With the median home value in Oliver, the typical annual property tax bill reaches $911, which is lower than the national median of $2,690. Property taxes in Oliver 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 Oliver'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 Oliver or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Oliver, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.65%
Estimate Property Tax Bill
$905
Ownwell’s Oliver Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Oliver with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Oliver 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 Oliver, Pennsylvania
Property taxes in Oliver, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Oliver is 2.65%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Oliver set these rates annually, and they can vary significantly across different neighborhoods. Each year, Oliver 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 Oliver's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 15472 zip code has both the highest and lowest median property tax rate of 2.65%. Understanding how these cities compare with Oliver provides valuable insights into the varying tax landscape across Fayette County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Oliver Tax Rate
2.65%
Average Fayette County Tax Rate
0.87%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Oliver, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15472 | 2.65% | 2.65% | 2.65% | 2.65% | 2.65% |
Source: Ownwell
Property Tax Assessment Values Across Oliver, Pennsylvania
In Oliver, 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 Fayette 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 Oliver, 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 Oliver helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Oliver's median home price stands at $34,140, with tax bills ranging from $618 at the 25th percentile to $1,728 at the 90th percentile. The highest and lowest median tax bills both occur in the zip code 15472, amounting to $911.00.
Average Oliver Assessed Value
$34,140
Average Fayette County Assessed Value
$51,500
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Oliver, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15472 | $20,050 | $23,270 | $34,140 | $45,350 | $65,130 |
Source: Ownwell
Property Tax Bills Across Oliver, Pennsylvania
In Oliver, located in Fayette County, PA, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the county's property assessor and is meant to reflect the market value of the home. This value is then multiplied by the local tax rate to calculate the annual tax bill. For example, with a median home price of $34,140, homeowners in Oliver can expect varying tax bills. At the 25th percentile, the tax bill is approximately $618, while at the 75th percentile, it rises to around $1,207. The highest tax bills, at the 90th percentile, reach up to $1,728. These property taxes contribute to local services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, homeowners in Oliver may find their tax rates to be relatively manageable, but it's important to note that actual tax bills can vary significantly based on individual property assessments and local tax policies.
Average Oliver Tax Bill
$911
Average Fayette County Tax Bill
$548
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Oliver, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15472 | $545 | $618 | $911 | $1,207 | $1,728 |
Source: Ownwell