Hollsopple, Pennsylvania Property Taxes
The median property tax rate in Hollsopple, PA is 2.47%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Hollsopple at $44,715, the typical annual property tax bill reaches $1,117, exceeding the national median of $2,690. Property taxes in Hollsopple 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 Hollsopple'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 Hollsopple or another part of Somerset County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hollsopple, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.47%
Estimate Property Tax Bill
$1,104
Ownwell’s HOLLSOPPLE Property Tax Bill Calculator assists any homeowner, real estate investor, or potential owner in estimating their annual property taxes in HOLLSOPPLE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in HOLLSOPPLE 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 Hollsopple, Pennsylvania
Property taxes in Hollsopple, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hollsopple is 2.47%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Hollsopple set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hollsopple 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 Hollsopple's effective property tax rate to other areas in Pennsylvania and the national median. For comparison, the zip code 15935 has the highest median property tax rate of 2.47%, while the same zip code also has the lowest median tax rate of 2.47%. Understanding how these cities compare with Hollsopple 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 Hollsopple Tax Rate
2.47%
Average Somerset County Tax Rate
2.69%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hollsopple, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15935 | 2.47% | 2.47% | 2.47% | 2.47% | 2.69% |
Source: Ownwell
Property Tax Assessment Values Across Hollsopple, Pennsylvania
In Hollsopple, 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 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 Hollsopple, 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 Hollsopple helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Hollsopple is $44,715, with tax bills ranging from $708 at the 25th percentile to $2,450 at the 90th percentile. The zip code 15935 has both the highest and lowest median tax bill at $1,117.
Average Hollsopple Assessed Value
$44,715
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 Hollsopple, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15935 | $18,551 | $29,445 | $44,715 | $69,885 | $97,522 |
Source: Ownwell
Property Tax Bills Across Hollsopple, Pennsylvania
In Hollsopple, Somerset County, PA, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The median home price in Hollsopple is $44,715, and the property tax rate is applied to this assessed value to determine the annual tax bill. Factors influencing the tax bill include the property's size, location, and any improvements made. The tax bill can vary significantly, with the 25th percentile at $708 and the 75th percentile at $1,744, indicating a broad range of property values and corresponding tax amounts. At the 90th percentile, homeowners might see tax bills as high as $2,450. The highest median tax bill in the area is $1,117, which is notably higher than the national median property tax rate of 0.99%. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the quality of life for homeowners. Understanding these factors can help homeowners better anticipate their financial obligations and plan accordingly.
Average Hollsopple Tax Bill
$1,117
Average Somerset County Tax Bill
$1,299
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Hollsopple, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15935 | $445 | $708 | $1,117 | $1,744 | $2,450 |
Source: Ownwell