Mahaffey, Pennsylvania Property Taxes
The median property tax rate in Mahaffey, PA is 1.33%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Mahaffey, the typical annual property tax bill reaches $1,367, which is below the national median of $2,690. Property taxes in Mahaffey are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Mahaffey'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 Mahaffey or another part of Indiana County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mahaffey, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.33%
Estimate Property Tax Bill
$1,363
Ownwell’s Mahaffey Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mahaffey with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mahaffey 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 Mahaffey, Pennsylvania
Property taxes in Mahaffey, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mahaffey is 1.33%, significantly higher than the U.S. national median of 0.99%. Local government entities within Mahaffey set these rates annually, and they can vary across different neighborhoods. Each year, Mahaffey 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 Mahaffey's effective property tax rate to other areas in Pennsylvania and the national median. For comparison, the zip code 15757 has both the highest and lowest median property tax rate of 1.33%. Understanding how these cities compare with Mahaffey provides valuable insights into the varying tax landscape across Indiana County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mahaffey Tax Rate
1.33%
Average Indiana County Tax Rate
2.03%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mahaffey, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15757 | 1.33% | 1.33% | 1.33% | 1.33% | 1.33% |
Source: Ownwell
Property Tax Assessment Values Across Mahaffey, Pennsylvania
In Mahaffey, 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 Indiana 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 Mahaffey, 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 Mahaffey helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Mahaffey is $1,367 in the 15757 zip code, while the lowest median tax bill is also $1,367 in the same zip code.
Average Mahaffey Assessed Value
$102,500
Average Indiana County Assessed Value
$98,600
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mahaffey, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15757 | $30,300 | $48,250 | $102,500 | $159,650 | $213,260 |
Source: Ownwell
Property Tax Bills Across Mahaffey, Pennsylvania
In Mahaffey, Indiana County, PA, property tax bills are calculated based on the assessed value of the home and the local tax rate. The assessed value is a percentage of the property's market value, determined by the county assessor. This value is then multiplied by the local tax rate to calculate the annual tax bill. For example, with a median home price of $102,500, homeowners in Mahaffey can expect varying tax bills. The 25th percentile tax bill is $643, while the 75th percentile tax bill rises to $2,129. At the 90th percentile, homeowners may see tax bills as high as $2,844. The highest median tax bill in the area is $1,367, found in the 15757 zip code. These taxes fund essential local services such as schools, infrastructure, and emergency services, significantly impacting homeowners' annual expenses. Compared to the national median property tax rate of 0.99%, Mahaffey's tax rates reflect the local economic conditions and public service needs.
Average Mahaffey Tax Bill
$1,367
Average Indiana County Tax Bill
$2,051
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Mahaffey, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15757 | $404 | $643 | $1,367 | $2,129 | $2,844 |
Source: Ownwell