Acosta, Pennsylvania Property Taxes
The median property tax rate in Acosta, PA is 2.69%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Acosta at $31,900, the typical annual property tax bill reaches $857, exceeding the national median of $2,690. Property taxes in Acosta 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 Acosta'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 Acosta 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
Acosta, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.69%
Estimate Property Tax Bill
$858
Ownwell’s Acosta Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Acosta with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Acosta 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 Acosta, Pennsylvania
Property taxes in Acosta, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Acosta is 2.69%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Acosta set these rates annually, and they can vary significantly across different neighborhoods. Each year, Acosta 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 Acosta's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the zip code 15520 has both the highest and lowest median property tax rate of 2.69%. Understanding how these areas compare with Acosta provides valuable insights into the varying tax landscape across Somerset County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Acosta Tax Rate
2.69%
Average Somerset County Tax Rate
2.69%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Acosta, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15520 | 2.69% | 2.69% | 2.69% | 2.69% | 2.69% |
Source: Ownwell
Property Tax Assessment Values Across Acosta, Pennsylvania
In Acosta, 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 Somerset 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 Acosta, 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 Acosta helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bill in the area is $857 in zip code 15520.
Average Acosta Assessed Value
$31,900
Average Somerset County Assessed Value
$50,500
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Acosta, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15520 | $15,756 | $24,060 | $31,900 | $41,040 | $48,116 |
Source: Ownwell
Property Tax Bills Across Acosta, Pennsylvania
In Acosta, Somerset County, PA, property tax bills are calculated based on the assessed value of a home, which is determined by local government assessors. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For example, with a median home price of $31,900, the tax bill can vary significantly. The 25th percentile tax bill is around $647, while the 75th percentile tax bill reaches up to $1103, and the 90th percentile tax bill can be as high as $1293. These figures highlight the variability in property taxes within the region, influenced by factors such as property location, size, and improvements. Homeowners in Acosta may find their property tax bills higher or lower than the national median property tax rate of 0.99%, depending on these assessed values. Understanding how these factors affect property taxes can help homeowners better anticipate their annual expenses and plan their finances accordingly.
Average Acosta Tax Bill
$857
Average Somerset County Tax Bill
$1,299
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Acosta, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15520 | $423 | $647 | $857 | $1,103 | $1,293 |
Source: Ownwell