Slippery Rock, Pennsylvania Property Taxes
The median property tax rate in Slippery Rock, PA is 2.30%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Slippery Rock, the typical annual property tax bill reaches $2,383, which is below the national median of $2,690. Property taxes in Slippery Rock 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 Slippery Rock'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 Slippery Rock 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
Slippery Rock, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.3%
Estimate Property Tax Bill
$2,353
Ownwell’s Slippery Rock Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Slippery Rock with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Slippery Rock 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 Slippery Rock, Pennsylvania
Property taxes in Slippery Rock, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Slippery Rock is 1.51%, which is significantly higher than both the Pennsylvania state median of 1.35% and the U.S. national median of 0.99%. Local government entities within Slippery Rock set these rates annually, and they can vary significantly across different neighborhoods. Each year, Slippery Rock 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 Slippery Rock's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the zip code 16057 has the highest median property tax rate of 1.51%, while the same zip code also has the lowest median tax rate of 1.51%. Understanding how these areas compare with Slippery Rock provides valuable insights into the varying tax landscape across Lawrence County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Slippery Rock Tax Rate
2.30%
Average Lawrence County Tax Rate
2.91%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Slippery Rock, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16057 | 2.30% | 2.30% | 2.30% | 2.30% | 2.56% |
Source: Ownwell
Property Tax Assessment Values Across Slippery Rock, Pennsylvania
In Slippery Rock, 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 Lawrence 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 Slippery Rock, 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 Slippery Rock helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 16057, both at $2,383.
Property Tax Assessment Values Across Slippery Rock, Pennsylvania
Source: Ownwell
$43,200
$80,550
$117,900
Average Slippery Rock Assessed Value
$102,300
Average Lawrence County Assessed Value
$65,300
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Slippery Rock, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16057 | $31,600 | $68,000 | $102,300 | $156,000 | $218,200 |
Source: Ownwell
Property Tax Bills Across Slippery Rock, Pennsylvania
In Slippery Rock, PA, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For homeowners in Slippery Rock, the median home price stands at $102,300. Tax bills can vary significantly, with the 25th percentile at $1,596 and the 75th percentile reaching $3,729. At the 90th percentile, homeowners may see tax bills as high as $5,098. This variation is influenced by factors such as property size, location, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, homeowners in Slippery Rock experience a range of tax burdens. The highest and lowest median tax bills in the area are both recorded at $2,383 in the 16057 zip code. Understanding these factors can help homeowners better anticipate their annual tax obligations and manage their finances accordingly.
Average Slippery Rock Tax Bill
$2,383
Average Lawrence County Tax Bill
$2,023
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Slippery Rock, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16057 | $782 | $1,596 | $2,383 | $3,729 | $5,098 |
Source: Ownwell