Waterfall, Pennsylvania Property Taxes
The median property tax rate in Waterfall, PA is 6.70%, significantly higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Waterfall at $22,300, the typical annual property tax bill reaches $1,494, surpassing the national median of $2,690. Property taxes in Waterfall 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 Waterfall’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 Waterfall 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
Waterfall, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
6.7%
Estimate Property Tax Bill
$1,494
Ownwell’s Waterfall Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Waterfall with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Waterfall 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 Waterfall, Pennsylvania
Property taxes in Waterfall, Pennsylvania, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Waterfall is 6.70%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Waterfall set these rates annually, and they can vary significantly across different neighborhoods. Each year, Waterfall 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 Waterfall's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the zip code 16689 has the highest median property tax rate of 6.70%, while the same zip code also has the lowest median tax rate of 6.70%. Understanding how these cities compare with Waterfall provides valuable insights into the varying tax landscape across Huntingdon County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Waterfall Tax Rate
6.70%
Average Huntingdon County Tax Rate
5.91%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Waterfall, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16689 | 6.70% | 6.70% | 6.70% | 6.70% | 6.70% |
Source: Ownwell
Property Tax Assessment Values Across Waterfall, Pennsylvania
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Waterfall, PA. 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 local appraisal district 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 Waterfall, 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. The median home price in Waterfall is $22,300, with the median tax bill being $1,494. The zip code 16689 has both the highest and lowest median tax bill at $1,494. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Waterfall Assessed Value
$22,300
Average Huntingdon County Assessed Value
$15,500
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Waterfall, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16689 | $22,300 | $22,300 | $22,300 | $22,300 | $22,300 |
Source: Ownwell
Property Tax Bills Across Waterfall, Pennsylvania
In Waterfall, located in Huntingdon County, PA, property tax bills are calculated based on the assessed value of the property. The assessed value is determined by the county's assessment office, which evaluates the property's market value and then applies an assessment ratio to arrive at the assessed value. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For instance, with a median home price of $22,300 in Waterfall, homeowners can expect a consistent median tax bill of $1,494. This figure places Waterfall's property tax rate significantly higher than the national median property tax rate of 0.99%. Factors such as property improvements, neighborhood changes, and market fluctuations can influence the assessed value, thereby affecting the tax bill. High property taxes can impact homeowners by increasing the overall cost of homeownership, potentially making it more challenging to afford and maintain properties over time.
Average Waterfall Tax Bill
$1,494
Average Huntingdon County Tax Bill
$782
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Waterfall, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16689 | $1,494 | $1,494 | $1,494 | $1,494 | $1,494 |
Source: Ownwell