South Fork, Pennsylvania Property Taxes
The median property tax rate in South Fork, PA is 9.53%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in South Fork, the typical annual property tax bill reaches $805, which is significantly lower than the national median of $2,690. Property taxes in South Fork 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 South Fork'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 South Fork 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
South Fork, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
9.53%
Estimate Property Tax Bill
$720
Ownwell’s South Fork Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in South Fork with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in South Fork 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 South Fork, Pennsylvania
Property taxes in South Fork, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in South Fork is 9.53%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within South Fork set these rates annually, and they can vary significantly across different neighborhoods. Each year, South Fork 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 South Fork's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 15956 zip code has the highest median property tax rate of 9.53%, while the same zip code also has the lowest median tax rate of 9.53%. Understanding how these cities compare with South Fork 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 South Fork Tax Rate
9.53%
Average Cambria County Tax Rate
10.13%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across South Fork, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15956 | 8.92% | 8.93% | 9.53% | 11.88% | 11.88% |
Source: Ownwell
Property Tax Assessment Values Across South Fork, Pennsylvania
In South Fork, 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 South Fork, 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 South Fork helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In South Fork, the zip code with the highest and lowest median tax bill is 15956, with a median tax bill of $805.
Average South Fork Assessed Value
$7,560
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 South Fork, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15956 | $3,032 | $5,040 | $7,560 | $13,940 | $21,492 |
Source: Ownwell
Property Tax Bills Across South Fork, Pennsylvania
In South Fork, PA, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, in Cambria County, the median home price is $7,560, and the tax rates can vary significantly. Factors that influence the tax bill include the property's assessed value, local tax rates, and any applicable exemptions or deductions. Homeowners in South Fork experience a range of tax bills, with the 25th percentile at $534 and the 75th percentile at $1,312. At the higher end, the 90th percentile tax bill reaches $2,019. These property taxes are crucial for funding local services such as schools, emergency services, and infrastructure. Compared to the national median property tax rate of 0.99%, the rates in South Fork reflect the unique economic and housing conditions of the area, impacting homeowners differently based on their property's assessed value and specific circumstances.
Average South Fork Tax Bill
$805
Average Cambria County Tax Bill
$1,315
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across South Fork, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15956 | $305 | $534 | $805 | $1,312 | $2,019 |
Source: Ownwell