Elmora, Pennsylvania Property Taxes
The median property tax rate in Elmora, PA is 10.85%, significantly higher than both the national median of 0.99% and Pennsylvania's state median of 2.81%. With the median home value in Elmora at $4,760, the typical annual property tax bill reaches $516, exceeding the national median of $2,690. Property taxes in Elmora 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 Elmora'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 Elmora 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
Elmora, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
10.85%
Estimate Property Tax Bill
$516
Ownwell’s Elmora Property Tax Bill Calculator enables homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Elmora with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Elmora 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 Elmora, Pennsylvania
Property taxes in Elmora, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Elmora is 10.85%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Elmora set these rates annually, and they can vary across different neighborhoods. Each year, Elmora 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 Elmora's effective property tax rate to other areas in Pennsylvania and the national median. For comparison, the zip code 15737 has the highest median property tax rate of 10.85%, while the same zip code also has the lowest median tax rate of 10.85%. Understanding how these figures compare with Elmora provides valuable insights into the varying tax landscape across Cambria County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Elmora Tax Rate
10.85%
Average Cambria County Tax Rate
10.13%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Elmora, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15737 | 10.85% | 10.85% | 10.85% | 10.85% | 10.85% |
Source: Ownwell
Property Tax Assessment Values Across Elmora, Pennsylvania
In Elmora, 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 Cambria 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 Elmora, 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 Elmora helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 15737, with a tax bill of $516.
Average Elmora Assessed Value
$4,760
Average Cambria County Assessed Value
$12,040
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Elmora, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15737 | $2,203 | $3,275 | $4,760 | $7,090 | $11,320 |
Source: Ownwell
Property Tax Bills Across Elmora, Pennsylvania
In Elmora, PA, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The tax bill is then derived by applying the local property tax rate to this assessed value. Several factors influence the assessed value, including the home's market value, its size, location, and any improvements made to the property. For homeowners in Elmora, the median home price stands at $4,760, which is relatively low compared to national figures. The property tax bills vary significantly, with the 25th percentile at $355 and the 75th percentile at $769. Those in the 90th percentile face tax bills of up to $1,228. Interestingly, the highest and lowest median tax bills in Elmora both amount to $516, all within the zip code 15737. These property taxes directly impact homeowners by influencing their annual expenses and potentially affecting their ability to invest in property improvements or other financial commitments. Understanding how property taxes are calculated can help homeowners plan and manage their finances more effectively.
Average Elmora Tax Bill
$516
Average Cambria County Tax Bill
$1,315
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Elmora, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15737 | $239 | $355 | $516 | $769 | $1,228 |
Source: Ownwell