Hastings, Pennsylvania Property Taxes
The median property tax rate in Hastings, PA is 12.20%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Hastings, the typical annual property tax bill reaches $1,130, exceeding the national median of $2,690. Property taxes in Hastings 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 Hastings'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 Hastings 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
Hastings, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
12.2%
Estimate Property Tax Bill
$1,225
Ownwell’s Hastings Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hastings with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hastings 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 Hastings, Pennsylvania
Property taxes in Hastings, PA, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hastings is 12.20%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Hastings set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hastings 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. Understanding how Hastings' effective property tax rate compares to other counties in Pennsylvania and the national median 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 Hastings Tax Rate
12.20%
Average Cambria County Tax Rate
10.13%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hastings, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16646 | 10.20% | 10.20% | 12.20% | 12.20% | 12.20% |
Source: Ownwell
Property Tax Assessment Values Across Hastings, Pennsylvania
In Hastings, 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 Hastings, 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. The median home price in Hastings is $10,040, with tax bills ranging from $767 at the 25th percentile to $3,055 at the 90th percentile. The highest and lowest median tax bills are both $1,130 in zip code 16646. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Hastings Assessed Value
$10,040
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 Hastings, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16646 | $4,092 | $6,788 | $10,040 | $17,715 | $28,010 |
Source: Ownwell
Property Tax Bills Across Hastings, Pennsylvania
In Hastings, property tax bills are determined by a combination of the assessed value of your home and the local tax rate. The assessed value is typically a percentage of the market value, which is determined by the county assessor. For instance, if a home has a median market value of $10,040, the assessed value would be a proportion of this figure. The local tax rate is then applied to this assessed value to calculate your annual property tax bill. Factors such as property size, location, and improvements can influence the assessed value. In Hastings, the 25th percentile of annual tax bills is $767, while the 75th percentile reaches $1998. The 90th percentile can go up to $3055, indicating that higher-valued properties or those with significant improvements pay more in taxes. Comparatively, the national median property tax rate is 0.99%, making Hastings’ tax rates relatively moderate. Homeowners in Hastings need to be aware of these factors as they significantly impact their annual financial planning.
Average Hastings Tax Bill
$1,130
Average Cambria County Tax Bill
$1,315
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Hastings, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16646 | $433 | $767 | $1,130 | $1,998 | $3,055 |
Source: Ownwell