Wickhaven, Pennsylvania Property Taxes
The median property tax rate in Wickhaven, PA is 0.85%, which is considerably lower than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With a median home value of $44,890 in Wickhaven, the typical annual property tax bill is $376, significantly less than the national median of $2,690. Property taxes in Wickhaven are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Wickhaven'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 Wickhaven or another part of Fayette County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Wickhaven, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.85%
Estimate Property Tax Bill
$382
Ownwell’s Wickhaven Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wickhaven with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wickhaven 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 Wickhaven, Pennsylvania
Property taxes in Wickhaven, Pennsylvania, are essential for funding crucial local services, including public schools, road maintenance, and emergency services. The median tax rate in Wickhaven is 0.85%, which is lower than the U.S. national median of 0.99%. Local government entities within Wickhaven set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wickhaven 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 Wickhaven's effective property tax rate to other areas in Pennsylvania and the national median. For comparison, the zip code 15492 has both the highest and lowest median property tax rate of 0.85%. Understanding how these areas compare with Wickhaven 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 Wickhaven Tax Rate
0.85%
Average Fayette County Tax Rate
0.87%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wickhaven, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15492 | 0.79% | 0.83% | 0.85% | 0.87% | 0.96% |
Source: Ownwell
Property Tax Assessment Values Across Wickhaven, Pennsylvania
In Wickhaven, 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 Wickhaven, 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 Wickhaven helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code with the highest median tax bill is 15492, at $376, which is also the lowest median tax bill in the area.
Average Wickhaven Assessed Value
$44,890
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 Wickhaven, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15492 | $9,320 | $20,390 | $44,890 | $52,400 | $77,636 |
Source: Ownwell
Property Tax Bills Across Wickhaven, Pennsylvania
In Wickhaven, property tax bills are calculated based on the assessed value of your home, which is determined by the Fayette County tax assessor. The assessed value is then multiplied by the local tax rate to determine your annual tax bill. For example, with the median home price at $44,890, homeowners can expect to pay varying amounts depending on their property's assessed value and the specific tax rate applied. Factors such as property size, location, and any improvements made can influence the assessed value. In Wickhaven, the tax bill for the 25th percentile is $187, while the 75th percentile sees a tax bill of $429. The 90th percentile tax bill reaches up to $589. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark for understanding local tax burdens. Homeowners in Wickhaven should be aware that their property tax contributes to essential services like schools, public safety, and infrastructure, impacting the community's overall quality of life.
Average Wickhaven Tax Bill
$376
Average Fayette County Tax Bill
$548
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Wickhaven, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15492 | $68 | $187 | $376 | $429 | $589 |
Source: Ownwell