Hyde, Pennsylvania Property Taxes
The median property tax rate in Hyde, PA is 0.25%, significantly lower than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With a median home value in Hyde, the typical annual property tax bill amounts to $102, far below the national median of $2,690. Property taxes in Hyde 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 Hyde'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 Hyde 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
Hyde, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.25%
Estimate Property Tax Bill
$103
Ownwell’s HYDE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in HYDE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in HYDE 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 Hyde, Pennsylvania
Property taxes in Hyde, Pennsylvania, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hyde is 0.25%, significantly lower than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Hyde set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hyde 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 Hyde's property tax rate compares with other areas in Clearfield County and the national median provides valuable insights into the varying tax landscape, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hyde Tax Rate
0.25%
Average Clearfield County Tax Rate
0.25%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hyde, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16843 | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% |
Source: Ownwell
Property Tax Assessment Values Across Hyde, Pennsylvania
In Hyde, 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 Clearfield 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 Hyde, 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 Hyde helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Hyde is $41,162, with tax bills ranging from $56 at the 25th percentile to $253 at the 90th percentile. The highest and lowest median tax bills are both $102 in the zip code 16843.
Average Hyde Assessed Value
$41,162
Average Clearfield County Assessed Value
$86,111
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hyde, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16843 | $11,364 | $22,474 | $41,162 | $71,717 | $102,121 |
Source: Ownwell
Property Tax Bills Across Hyde, Pennsylvania
In Hyde, located in Clearfield County, PA, property tax bills are calculated based on the assessed value of a home, which is then multiplied by the local tax rate. For homeowners in Hyde, the median home price is $41,162. The property tax rate in this region is relatively low compared to the national median property tax rate of 0.99%. Factors that influence the tax bill include the assessed value of the property and the specific tax rate set by local authorities. For instance, homeowners at the 25th percentile can expect a tax bill around $56, while those at the 75th percentile might see a bill closer to $178. At the 90th percentile, the tax bill can go up to $253. This variance in tax bills affects homeowners differently, depending on the value of their property. Lower tax bills provide financial relief, making homeownership more affordable, whereas higher tax bills can be a burden, especially for those with higher-valued properties. Understanding these factors can help homeowners anticipate their annual property tax expenses.
Average Hyde Tax Bill
$102
Average Clearfield County Tax Bill
$214
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Hyde, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16843 | $28 | $56 | $102 | $178 | $253 |
Source: Ownwell