Sheffield, Pennsylvania Property Taxes
The median property tax rate in Sheffield, PA is 8.69%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Sheffield, the typical annual property tax bill reaches $441, which is significantly lower than the national median of $2,690. Property taxes in Sheffield are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Sheffield'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 Sheffield 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
Sheffield, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
8.69%
Estimate Property Tax Bill
$441
Ownwell’s Sheffield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sheffield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sheffield 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 Sheffield, Pennsylvania
Property taxes in Sheffield, Pennsylvania, are essential for funding crucial local services, including public schools, road maintenance, and emergency services. The median tax rate in Sheffield is 8.69%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Sheffield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sheffield 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 Sheffield's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 16347 zip code has the highest median property tax rate of 8.69%, while the same zip code also has the lowest median tax rate of 8.69%. Understanding how these cities compare with Sheffield provides valuable insights into the varying tax landscape across Forest County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Sheffield Tax Rate
8.69%
Average Forest County Tax Rate
8.80%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sheffield, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16347 | 8.69% | 8.69% | 8.69% | 8.69% | 8.69% |
Source: Ownwell
Property Tax Assessment Values Across Sheffield, Pennsylvania
In Sheffield, 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 Forest 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 Sheffield, 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 Sheffield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the highest and lowest median tax bills in Sheffield both stand at $441 in the 16347 zip code.
Average Sheffield Assessed Value
$5,080
Average Forest County Assessed Value
$6,350
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Sheffield, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16347 | $2,430 | $3,400 | $5,080 | $8,185 | $11,656 |
Source: Ownwell
Property Tax Bills Across Sheffield, Pennsylvania
Property tax bills in Sheffield, located in Forest County, PA, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor and is a percentage of the property's market value. For homeowners in Sheffield, the median home price is $5,080, which is significantly lower than the national median. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. In Sheffield, the tax bills can vary widely. For instance, the 25th percentile tax bill is $295, while the 75th percentile tax bill reaches $711. The 90th percentile tax bill can go up to $1,013, reflecting the range of property values and tax assessments in the area. Homeowners in Sheffield benefit from relatively low property tax bills compared to the national median property tax rate of 0.99%. This can make homeownership more affordable, impacting household budgets positively and potentially increasing the attractiveness of the area for new residents.
Average Sheffield Tax Bill
$441
Average Forest County Tax Bill
$559
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Sheffield, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16347 | $211 | $295 | $441 | $711 | $1,013 |
Source: Ownwell