Martin, Pennsylvania Property Taxes
The median property tax rate in Martin, PA is 0.78%, significantly lower than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Martin, the typical annual property tax bill is $256, which is well below the national median of $2,690. Property taxes in Martin are calculated based on the tax assessed value, which is often less than the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Martin'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 Martin 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
Martin, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.78%
Estimate Property Tax Bill
$257
Ownwell’s Martin Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Martin with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Martin 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 Martin, Pennsylvania
Property taxes in Martin, Pennsylvania, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Martin is 0.78%, which is below both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Martin set these rates annually, and they can vary significantly across different neighborhoods. Each year, Martin 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 Martin's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 15460 zip code has the highest median property tax rate of 0.78%, while it also has the lowest median tax rate of 0.78%. Understanding how these cities compare with Martin 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 Martin Tax Rate
0.78%
Average Fayette County Tax Rate
0.87%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Martin, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15460 | 0.78% | 0.78% | 0.78% | 0.78% | 0.78% |
Source: Ownwell
Property Tax Assessment Values Across Martin, Pennsylvania
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Martin, Pennsylvania. 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 Martin, 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. The median home price in Martin is $32,930, with the 25th percentile tax bill at $221 and the 75th percentile tax bill at $343. The highest median tax bill is $256 in zip code 15460, which is also the lowest median tax bill. By understanding 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 Martin helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Martin Assessed Value
$32,930
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 Martin, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15460 | $14,400 | $28,525 | $32,930 | $44,130 | $51,960 |
Source: Ownwell
Property Tax Bills Across Martin, Pennsylvania
In Martin, property tax bills are calculated based on the assessed value of the property, which is determined by local government assessors. The assessed value is typically a percentage of the property's market value. Homeowners in Martin can expect their property tax bills to vary significantly depending on the assessed value of their homes. For example, the median home price in Martin is $32,930. The property tax rate in Martin is compared to the national median property tax rate of 0.99%. Homeowners in Martin see tax bills ranging from $221 at the 25th percentile to $403 at the 90th percentile. This variability is influenced by factors such as property location, improvements, and market conditions. Ultimately, property taxes play a crucial role in funding local services, including schools, public safety, and infrastructure. For homeowners, understanding how their tax bill is calculated helps them plan their finances and anticipate annual costs.
Average Martin Tax Bill
$256
Average Fayette County Tax Bill
$548
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Martin, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15460 | $112 | $221 | $256 | $343 | $403 |
Source: Ownwell