Harmony, Pennsylvania Property Taxes
The median property tax rate in Harmony, PA is 5.20%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Harmony at $87,000, the typical annual property tax bill reaches $4,524, significantly exceeding the national median of $2,690. Property taxes in Harmony 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 Harmony'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 Harmony 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
Harmony, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
5.2%
Estimate Property Tax Bill
$4,524
Ownwell’s Harmony Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Harmony with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Harmony 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 Harmony, Pennsylvania
Property taxes in Harmony, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Harmony stands at 1.35%, which is higher than both the Pennsylvania state median of 1.35% and the U.S. national median of 0.99%. Local government entities within Harmony set these rates annually, and they can vary significantly across different neighborhoods. Each year, Harmony 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 Harmony's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 16037 zip code has the highest median property tax rate of 1.35%, while the same zip code also has the lowest median tax rate of 1.35%. Understanding how these areas compare with Harmony provides valuable insights into the varying tax landscape across Beaver County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Harmony Tax Rate
5.20%
Average Beaver County Tax Rate
6.15%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Harmony, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16037 | 5.20% | 5.20% | 5.20% | 5.20% | 5.20% |
Source: Ownwell
Property Tax Assessment Values Across Harmony, Pennsylvania
In Harmony, 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 Beaver 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 Harmony, 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. For instance, the median home price in Harmony is $87,000, with tax bills ranging from $2,912 at the 25th percentile to $8,263 at the 90th percentile. The zip code 16037 has both the highest and lowest median tax bill of $4,524. Being aware of these valuation processes in Harmony helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Harmony Assessed Value
$87,000
Average Beaver County Assessed Value
$44,800
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Harmony, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16037 | $34,000 | $56,000 | $87,000 | $115,600 | $158,900 |
Source: Ownwell
Property Tax Bills Across Harmony, Pennsylvania
In Harmony, PA, property tax bills are calculated based on the assessed value of the home, which is determined by local government assessments. The tax rate in Harmony is significantly higher than the national median property tax rate of 0.99%, leading to substantial tax bills for homeowners. For instance, the 25th percentile tax bill stands at $2,912, while the 75th percentile reaches $6,011, and the 90th percentile climbs to $8,263. These figures illustrate the range of tax burdens homeowners might face, depending on the assessed value of their property. Factors influencing the tax bill include the home's assessed value, local tax rates, and any applicable exemptions or deductions. Higher property values and tax rates result in larger tax bills, directly impacting homeowners' annual expenses. In Harmony, the highest median tax bill recorded is $4,524 in zip code 16037, reflecting the significant financial commitment required for property ownership in this area. Understanding these factors can help homeowners better anticipate and manage their property tax obligations.
Average Harmony Tax Bill
$4,524
Average Beaver County Tax Bill
$2,704
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Harmony, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16037 | $1,768 | $2,912 | $4,524 | $6,011 | $8,263 |
Source: Ownwell