Parkhill, Pennsylvania Property Taxes
The median property tax rate in Parkhill, PA is 10.48%, significantly higher than both the national median of 0.99% and Pennsylvania's state median of 2.81%. With the median home value in Parkhill, the typical annual property tax bill reaches $965, which is below the national median of $2,690. Property taxes in Parkhill are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Parkhill'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 Parkhill 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
Parkhill, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
10.48%
Estimate Property Tax Bill
$965
Ownwell’s PARKHILL Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in PARKHILL with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in PARKHILL 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 Parkhill, Pennsylvania
Property taxes in Parkhill, Pennsylvania, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Parkhill is 1.56%, significantly higher than both the Pennsylvania state median of 1.35% and the U.S. national median of 0.99%. Local government entities within Parkhill set these rates annually, and they can vary significantly across different neighborhoods. Each year, Parkhill 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 Parkhill's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the zip code 15945 has the highest median property tax rate of 1.56%, while the same zip code also has the lowest median tax rate of 1.56%. Understanding how these areas compare with Parkhill 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 Parkhill Tax Rate
10.48%
Average Cambria County Tax Rate
10.13%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Parkhill, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15945 | 10.48% | 10.48% | 10.48% | 10.48% | 10.48% |
Source: Ownwell
Property Tax Assessment Values Across Parkhill, Pennsylvania
In Parkhill, 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 Parkhill, 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 Parkhill helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills are both $965.00, specifically in the 15945 zip code.
Average Parkhill Assessed Value
$9,210
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 Parkhill, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15945 | $3,770 | $6,828 | $9,210 | $12,758 | $17,360 |
Source: Ownwell
Property Tax Bills Across Parkhill, Pennsylvania
In Parkhill, PA, property tax bills are calculated based on the assessed value of a property, which is determined by the local tax assessor. The assessed value is a percentage of the property's market value, reflecting its worth in the current real estate market. Homeowners in Parkhill can expect their tax bills to vary significantly, with the 25th percentile at $715 and the 75th percentile at $1,337, highlighting the range of property values in the area. The highest median tax bill in the region is $965, which is notably lower than the national median property tax rate of 0.99%. Several factors influence the tax bill, including property size, location, and any improvements or renovations made. These factors can cause fluctuations in the assessed value, directly impacting the amount homeowners owe in property taxes. Understanding these elements is crucial for homeowners as it affects their annual financial planning and overall cost of homeownership. By staying informed about how property taxes are calculated, homeowners can better anticipate their expenses and manage their budgets accordingly.
Average Parkhill Tax Bill
$965
Average Cambria County Tax Bill
$1,315
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Parkhill, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15945 | $395 | $715 | $965 | $1,337 | $1,819 |
Source: Ownwell