Fayette City, Pennsylvania Property Taxes
The median property tax rate in Fayette City, PA is 0.89%, lower than both the national median of 0.99% and Pennsylvania's state median of 2.81%. With the median home value in Fayette City, the typical annual property tax bill reaches $499, significantly below the national median of $2,690. Property taxes in Fayette City 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 Fayette City'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 Fayette City 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
Fayette City, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.89%
Estimate Property Tax Bill
$446
Ownwell’s Fayette City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fayette City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fayette City 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 Fayette City, Pennsylvania
Property taxes in Fayette City, Pennsylvania, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fayette City is 0.89%, which is lower than the U.S. national median of 0.99%. Local government entities within Fayette City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fayette City 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 Fayette City's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the zip code 15438 has both the highest and lowest median property tax rates of 0.89%. Understanding how these cities compare with Fayette City provides valuable insights into the varying tax landscape across Fayette County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fayette City Tax Rate
0.89%
Average Fayette County Tax Rate
0.87%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fayette City, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15438 | 0.88% | 0.89% | 0.89% | 1.03% | 1.23% |
Source: Ownwell
Property Tax Assessment Values Across Fayette City, Pennsylvania
In Fayette City, 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 Fayette County Appraisal District 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 Fayette City, 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 Fayette City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Fayette City is $50,095, with tax bills ranging from $342 at the 25th percentile to $1,264 at the 90th percentile. The zip code 15438 has both the highest and lowest median tax bill at $499.
Property Tax Assessment Values Across Fayette City, Pennsylvania
Source: Ownwell
$15,915
$211,818
$407,720
Average Fayette City Assessed Value
$50,095
Average Fayette County Assessed Value
$51,500
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fayette City, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15438 | $18,651 | $34,355 | $50,095 | $92,360 | $143,486 |
Source: Ownwell
Property Tax Bills Across Fayette City, Pennsylvania
In Fayette City, PA, property tax bills are calculated based on the assessed value of a home, which is determined by local government assessors. The assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For example, with a median home price of $50,095, homeowners can expect varying tax bills depending on the specific assessment and applicable exemptions. The tax bill for the 25th percentile is around $342, while for the 75th percentile, it rises to approximately $832. Homeowners in the 90th percentile face a tax bill of about $1,264. The highest and lowest median tax bills in the 15438 zip code both stand at $499, demonstrating some uniformity in the area. Compared to the national median property tax rate of 0.99%, Fayette City offers relatively moderate property taxes, impacting homeowners by making the area more affordable. Factors such as property improvements or changes in local tax rates can influence these amounts, highlighting the importance of understanding local tax policies.
Average Fayette City Tax Bill
$499
Average Fayette County Tax Bill
$548
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Fayette City, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15438 | $150 | $342 | $499 | $832 | $1,264 |
Source: Ownwell