Prosperity, Pennsylvania Property Taxes
The median property tax rate in Prosperity, PA is 3.96%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Prosperity, the typical annual property tax bill reaches $3,466, exceeding the national median of $2,690. Property taxes in Prosperity 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 Prosperity'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 Prosperity 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
Prosperity, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.96%
Estimate Property Tax Bill
$3,748
Ownwell’s Prosperity Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Prosperity with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Prosperity 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 Prosperity, Pennsylvania
Property taxes in Prosperity, Pennsylvania, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Prosperity is 3.96%, significantly higher than the U.S. national median of 0.99%. Local government entities within Prosperity set these rates annually, and they can vary significantly across different neighborhoods. Each year, Prosperity 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 Prosperity's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the zip code 15329 has the highest median property tax rate of 3.96%, while the same zip code also has the lowest median tax rate of 3.96%. Understanding how these cities compare with Prosperity provides valuable insights into the varying tax landscape across Greene County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Prosperity Tax Rate
3.96%
Average Greene County Tax Rate
3.80%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Prosperity, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15329 | 3.23% | 3.39% | 3.96% | 4.18% | 4.18% |
Source: Ownwell
Property Tax Assessment Values Across Prosperity, Pennsylvania
Understanding the difference between "market value" and "assessed value" is essential for comprehending property taxes in Prosperity, PA. The market value reflects the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors such as location, property condition, and economic trends. This value is estimated by local authorities for tax purposes. Conversely, 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 Prosperity, 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. For example, the median home price in Prosperity is $94,645, with tax bills ranging from $3,056 at the 25th percentile to $5,990 at the 90th percentile. The highest and lowest median tax bills in the area are both $3,466, found in zip code 15329. By understanding these valuation concepts, property owners can better navigate their tax responsibilities, identify opportunities for protesting assessments, or apply for exemptions to effectively manage their tax burden.
Average Prosperity Assessed Value
$94,645
Average Greene County Assessed Value
$35,632
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Prosperity, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15329 | $47,260 | $81,330 | $94,645 | $98,000 | $171,605 |
Source: Ownwell
Property Tax Bills Across Prosperity, Pennsylvania
In Prosperity, PA, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For example, with a median home price of $94,645, homeowners can expect a range of tax bills. The 25th percentile tax bill is around $3,056, while the 75th percentile reaches $3,921, and the 90th percentile can go up to $5,990. These figures are notably higher than the national median property tax rate of 0.99%. Several factors influence the assessed value, including the home's market value, location, and any improvements or renovations made. High property taxes can significantly impact homeowners, affecting affordability and the overall cost of living. In Greene County, the highest and lowest median tax bills both stand at $3,466, highlighting the consistency in tax assessments within the area. Understanding these factors is crucial for homeowners to manage their financial planning effectively.
Average Prosperity Tax Bill
$3,466
Average Greene County Tax Bill
$1,387
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Prosperity, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15329 | $1,862 | $3,056 | $3,466 | $3,921 | $5,990 |
Source: Ownwell