New Geneva, Pennsylvania Property Taxes
The median property tax rate in New Geneva, 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 New Geneva at $33,740, the typical annual property tax bill is $263, well below the national median of $2,690. Property taxes in New Geneva are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding New Geneva'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 New Geneva or another part of Fayette County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
New Geneva, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.78%
Estimate Property Tax Bill
$263
Ownwell’s New Geneva Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in New Geneva with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in New Geneva 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 New Geneva, Pennsylvania
Property taxes in New Geneva, Pennsylvania, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in New Geneva is 0.78%, which is lower than the U.S. national median of 0.99%. Local government entities within New Geneva set these rates annually, and they can vary significantly across different neighborhoods. Each year, New Geneva 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 New Geneva's effective property tax rate to other regions in Pennsylvania and the national median. For comparison, the zip code 15467, which includes New Geneva, has both the highest and lowest median property tax rate of 0.78%. Understanding how these values compare with New Geneva 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 New Geneva 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 New Geneva, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15467 | 0.78% | 0.78% | 0.78% | 0.78% | 0.78% |
Source: Ownwell
Property Tax Assessment Values Across New Geneva, Pennsylvania
In New Geneva, 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 New Geneva, 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 New Geneva 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 both stand at $263, particularly in the 15467 zip code.
Property Tax Assessment Values Across New Geneva, Pennsylvania
Source: Ownwell
$15,915
$211,818
$407,720
Average New Geneva Assessed Value
$33,740
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 New Geneva, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15467 | $8,840 | $19,710 | $33,740 | $40,050 | $48,742 |
Source: Ownwell
Property Tax Bills Across New Geneva, Pennsylvania
In New Geneva, PA, property tax bills are calculated based on the assessed value of a home, which is determined by the county's assessment office. The assessed value is then multiplied by the local property tax rate to compute the annual tax bill. For homeowners in New Geneva, the median home price is $33,740. Property tax bills vary significantly, with the 25th percentile at $159, the 75th percentile at $312, and the 90th percentile reaching $379. Factors such as property location, size, and improvements can influence the assessed value and, consequently, the tax bill. Compared to the national median property tax rate of 0.99%, New Geneva's rates are relatively modest, providing some financial relief to its residents. However, the impact on homeowners can still be significant, particularly for those on fixed incomes or with lower property values. Understanding these factors can help homeowners anticipate their tax obligations and plan accordingly.
Average New Geneva Tax Bill
$263
Average Fayette County Tax Bill
$548
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across New Geneva, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15467 | $86 | $159 | $263 | $312 | $379 |
Source: Ownwell