Boswell, Pennsylvania Property Taxes
The median property tax rate in Boswell, 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 Boswell, the typical annual property tax bill reaches $1,291, exceeding the national median of $2,690. Property taxes in Boswell 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 Boswell'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 Boswell 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
Boswell, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.69%
Estimate Property Tax Bill
$1,283
Ownwell’s Boswell Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Boswell with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Boswell 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 Boswell, Pennsylvania
Property taxes in Boswell, Pennsylvania, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Boswell is 2.69%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Boswell set these rates annually, and they can vary significantly across different neighborhoods. Each year, Boswell 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 Boswell's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the zip code 15531 has the highest median property tax rate of 2.69%, while the same zip code also has the lowest median tax rate of 2.69%. Understanding how these areas compare with Boswell 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 Boswell 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 Boswell, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15531 | 2.69% | 2.69% | 2.69% | 2.84% | 2.84% |
Source: Ownwell
Property Tax Assessment Values Across Boswell, Pennsylvania
In Boswell, 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 Boswell, 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 Boswell is $47,685, with property tax bills ranging from $830 at the 25th percentile to $1,909 at the 75th percentile. The highest median tax bill in the area is $1,291 in zip code 15531, which also has the lowest median 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 Boswell helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Boswell Assessed Value
$47,685
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 Boswell, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15531 | $18,370 | $30,035 | $47,685 | $70,700 | $97,800 |
Source: Ownwell
Property Tax Bills Across Boswell, Pennsylvania
In Boswell, Somerset County, PA, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. Homeowners in Boswell face a median home price of $47,685. The property tax rate in this area is compared against the national median property tax rate of 0.99%. To determine the tax bill, the assessed value of the property is multiplied by the local tax rate. For example, the 25th percentile tax bill in Boswell is $830, while the 75th percentile tax bill reaches $1,909. Homeowners with properties in the 90th percentile can see tax bills as high as $2,641. These tax bills can significantly impact homeowners, influencing their overall housing costs and budget planning. The highest and lowest median tax bills in Boswell are both recorded at $1,291 in the 15531 zip code, demonstrating a range of property tax burdens within the community. Understanding these factors helps homeowners anticipate their annual property tax obligations.
Average Boswell Tax Bill
$1,291
Average Somerset County Tax Bill
$1,299
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Boswell, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15531 | $510 | $830 | $1,291 | $1,909 | $2,641 |
Source: Ownwell