Fairmount City, Pennsylvania Property Taxes
The median property tax rate in Fairmount City, PA is 1.88%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Fairmount City at $91,740, the typical annual property tax bill reaches $1,721, which is below the national median of $2,690. Property taxes in Fairmount City 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 Fairmount City'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 Fairmount City or another part of Armstrong County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Fairmount City, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.88%
Estimate Property Tax Bill
$1,725
Ownwell’s Fairmount City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fairmount City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fairmount City 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 Fairmount City, Pennsylvania
Property taxes in Fairmount City, Pennsylvania, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Fairmount City is 1.88%, which is significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Fairmount City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fairmount City 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 Fairmount City's effective property tax rate to other areas in Armstrong County and the national median. For comparison, the zip code 16224 has the highest median property tax rate of 1.88%, while the lowest median tax rate is also 1.88%. Understanding how these areas compare with Fairmount City provides valuable insights into the varying tax landscape across Armstrong County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fairmount City Tax Rate
1.88%
Average Armstrong County Tax Rate
2.94%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fairmount City, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16224 | 1.88% | 1.88% | 1.88% | 1.88% | 1.88% |
Source: Ownwell
Property Tax Assessment Values Across Fairmount City, Pennsylvania
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Fairmount City, PA. The market value represents 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 Armstrong 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 Fairmount City, 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 Fairmount City is $91,740, with tax bills ranging from $1,093 at the 25th percentile to $2,488 at the 90th percentile. The highest and lowest median tax bill is $1,721 in the 16224 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities, identify opportunities for protesting assessments, and apply for exemptions to effectively manage their tax burden.
Property Tax Assessment Values Across Fairmount City, Pennsylvania
Source: Ownwell
$6,520
$107,245
$207,970
Average Fairmount City Assessed Value
$91,740
Average Armstrong County Assessed Value
$84,270
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fairmount City, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16224 | $46,480 | $58,280 | $91,740 | $113,630 | $132,621 |
Source: Ownwell
Property Tax Bills Across Fairmount City, Pennsylvania
In Fairmount City, located in Armstrong County, PA, property tax bills are calculated based on the assessed value of a home. This assessed value is typically a percentage of the property's market value, determined by the county's tax assessor. Homeowners in Fairmount City face a median property tax rate that is closely aligned with the national median rate of 0.99%. For instance, with a median home price of $91,740, property tax bills can vary significantly. At the 25th percentile, homeowners might pay around $1,093, while those at the 75th percentile could see bills as high as $2,132. The 90th percentile tax bill reaches up to $2,488, reflecting the range of property values and tax rates in the area. These taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the community. Homeowners need to budget for these taxes, as they can influence overall housing affordability and long-term financial planning.
Average Fairmount City Tax Bill
$1,721
Average Armstrong County Tax Bill
$2,533
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Fairmount City, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16224 | $872 | $1,093 | $1,721 | $2,132 | $2,488 |
Source: Ownwell