Gibbon Glade, Pennsylvania Property Taxes
The median property tax rate in Gibbon Glade, PA is 0.71%, significantly lower than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With a median home value of $67,140 in Gibbon Glade, the typical annual property tax bill amounts to $428, which is well below the national median of $2,690. Property taxes in Gibbon Glade are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Gibbon Glade's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Gibbon Glade or another part of Fayette County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Gibbon Glade, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.71%
Estimate Property Tax Bill
$477
Ownwell’s Gibbon Glade Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gibbon Glade with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gibbon Glade 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 Gibbon Glade, Pennsylvania
Property taxes in Gibbon Glade, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gibbon Glade is 0.71%, which is lower than both the Pennsylvania state median of 1.46% and the U.S. national median of 0.99%. Local government entities within Gibbon Glade set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gibbon Glade 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 Gibbon Glade's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the zip code 15440 has both the highest and lowest median property tax rate of 0.71%. Understanding how these areas compare with Gibbon Glade 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 Gibbon Glade Tax Rate
0.71%
Average Fayette County Tax Rate
0.87%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gibbon Glade, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15440 | 0.42% | 0.71% | 0.71% | 0.71% | 0.71% |
Source: Ownwell
Property Tax Assessment Values Across Gibbon Glade, Pennsylvania
In Gibbon Glade, 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 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 Gibbon Glade, 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 Gibbon Glade helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 15440 has both the highest and lowest median tax bill at $428.
Property Tax Assessment Values Across Gibbon Glade, Pennsylvania
Source: Ownwell
$15,915
$211,818
$407,720
Average Gibbon Glade Assessed Value
$67,140
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 Gibbon Glade, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15440 | $14,146 | $31,972 | $67,140 | $94,610 | $146,419 |
Source: Ownwell
Property Tax Bills Across Gibbon Glade, Pennsylvania
In Gibbon Glade, Fayette County, PA, property tax bills are calculated based on the assessed value of a home, which is determined by local government assessors. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For context, the median home price in Gibbon Glade is $67,140. Homeowners in this area can expect tax bills to vary significantly; for example, the 25th percentile tax bill is $193, while the 75th percentile reaches $615, and the 90th percentile can go up to $883. These tax bills are influenced by various factors, including changes in property values and local government budget needs. Compared to the national median property tax rate of 0.99%, homeowners in Gibbon Glade experience different tax burdens depending on their property's assessed value. Understanding how these factors interact can help homeowners anticipate their financial obligations and better manage their budgets.
Average Gibbon Glade Tax Bill
$428
Average Fayette County Tax Bill
$548
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Gibbon Glade, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15440 | $84 | $193 | $428 | $615 | $883 |
Source: Ownwell