Point Marion, Pennsylvania Property Taxes
The median property tax rate in Point Marion, PA is 2.66%, considerably higher than the national median of 0.99% but slightly below the Pennsylvania state median of 2.81%. With the median home value in Point Marion at $39,185, the typical annual property tax bill reaches $671, which is significantly lower than the national median of $2,690. Property taxes in Point Marion are calculated based on the assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Point Marion'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 Point Marion 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
Point Marion, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.66%
Estimate Property Tax Bill
$1,042
Ownwell’s Point Marion Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Point Marion with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Point Marion 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 Point Marion, Pennsylvania
Property taxes in Point Marion, Pennsylvania, play a crucial role in supporting essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Point Marion is 2.66%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Point Marion set these rates annually, and they can vary significantly across different neighborhoods. Each year, Point Marion 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 Point Marion's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the zip code 15474 in Fayette County has both the highest and lowest median property tax rate of 2.66%. Understanding how these areas compare with Point Marion 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 Point Marion Tax Rate
2.66%
Average Fayette County Tax Rate
0.87%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Point Marion, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15474 | 0.74% | 0.74% | 2.66% | 2.66% | 2.66% |
Source: Ownwell
Property Tax Assessment Values Across Point Marion, Pennsylvania
In Point Marion, 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 Point Marion, 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 Point Marion helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $671 in the 15474 zip code, which is relatively moderate compared to the national median property tax rate of 0.99%.
Property Tax Assessment Values Across Point Marion, Pennsylvania
Source: Ownwell
$15,915
$211,818
$407,720
Average Point Marion Assessed Value
$39,185
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 Point Marion, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15474 | $13,325 | $26,620 | $39,185 | $54,015 | $78,635 |
Source: Ownwell
Property Tax Bills Across Point Marion, Pennsylvania
In Point Marion, Fayette County, PA, property tax bills are determined based on the assessed value of a home. The local tax rate is applied to this assessed value to calculate the annual property tax bill. For instance, with a median home price of $39,185, homeowners can expect varying tax bills. The 25th percentile tax bill is around $277, while the 75th percentile reaches $1,088, and the 90th percentile can go up to $1,421. These figures illustrate the range of property tax burdens homeowners might face, influenced by the assessed value and any applicable exemptions or deductions. The highest median tax bill in the area is $671, which is consistent across zip code 15474. Compared to the national median property tax rate of 0.99%, Point Marion’s tax rates offer a nuanced picture of property taxation in this region. Homeowners need to be aware of these factors as they significantly impact their annual financial planning and overall cost of homeownership.
Average Point Marion Tax Bill
$671
Average Fayette County Tax Bill
$548
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Point Marion, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15474 | $119 | $277 | $671 | $1,088 | $1,421 |
Source: Ownwell