Masontown, Pennsylvania Property Taxes
The median property tax rate in Masontown, PA is 1.27%, which is considerably higher than the national median of 0.99% but lower than the Pennsylvania state median of 2.81%. With a median home value of $48,550 in Masontown, the typical annual property tax bill reaches $583, which is significantly below the national median of $2,690. Property taxes in Masontown are calculated based on the tax assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Masontown'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 Masontown 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
Masontown, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.27%
Estimate Property Tax Bill
$617
Ownwell’s Masontown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Masontown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Masontown 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 Masontown, Pennsylvania
Property taxes in Masontown, Pennsylvania, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Masontown is 1.27%, higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Masontown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Masontown 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 Masontown's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 15461 zip code has the highest median property tax rate of 1.27%, while the 15461 zip code also has the lowest median tax rate of 1.27%. Understanding how these areas compare with Masontown 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 Masontown Tax Rate
1.27%
Average Fayette County Tax Rate
0.87%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Masontown, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15461 | 0.78% | 1.00% | 1.27% | 1.27% | 1.27% |
Source: Ownwell
Property Tax Assessment Values Across Masontown, Pennsylvania
In Masontown, 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 Masontown, 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 Masontown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $583, found in the 15461 zip code.
Average Masontown Assessed Value
$48,550
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 Masontown, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15461 | $22,465 | $34,028 | $48,550 | $65,478 | $94,137 |
Source: Ownwell
Property Tax Bills Across Masontown, Pennsylvania
In Masontown, located in Fayette County, PA, property tax bills are calculated based on the assessed value of a home, not its market value. The assessed value is determined by the local tax assessor and is a percentage of the market value. Homeowners in Masontown can expect varying tax bills. For instance, the 25th percentile tax bill is around $375, while the 75th percentile tax bill reaches approximately $783. The 90th percentile tax bill can go up to $1,114. Factors influencing these tax bills include the property's assessed value and the local tax rate set by municipal authorities. This rate is applied to the assessed value to determine the final tax bill. Homeowners in Masontown need to be aware of these factors as they directly impact their annual property tax obligations. Compared to the national median property tax rate of 0.99%, Masontown’s tax bills reflect the local economic conditions and municipal requirements, which can significantly affect household budgets.
Average Masontown Tax Bill
$583
Average Fayette County Tax Bill
$548
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Masontown, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15461 | $216 | $375 | $583 | $783 | $1,114 |
Source: Ownwell