Shelocta, Pennsylvania Property Taxes
The median property tax rate in Shelocta, PA is 2.11%, which is considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Shelocta, the typical annual property tax bill reaches $2,690, aligning with the national median. Property taxes in Shelocta 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 Shelocta'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 Shelocta or another part of Indiana County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Shelocta, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.11%
Estimate Property Tax Bill
$2,624
Ownwell’s Shelocta Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Shelocta with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Shelocta 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 Indiana County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Shelocta, Pennsylvania
Property taxes in Shelocta, Pennsylvania, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Shelocta is 2.11%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Shelocta set these rates annually, and they can vary significantly across different neighborhoods. Each year, Shelocta 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 Shelocta's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 15774 zip code has the highest median property tax rate of 2.11%, while the same 15774 zip code also has the lowest median tax rate of 2.11%. Understanding how these cities compare with Shelocta provides valuable insights into the varying tax landscape across Indiana County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Shelocta Tax Rate
2.11%
Average Indiana County Tax Rate
2.03%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Shelocta, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15774 | 2.11% | 2.11% | 2.11% | 2.11% | 2.11% |
Source: Ownwell
Property Tax Assessment Values Across Shelocta, Pennsylvania
In Shelocta, 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 Indiana 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 Shelocta, 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 Shelocta helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 15774 in Shelocta has a median tax bill of $2,690, which provides a benchmark for homeowners to compare their own tax bills.
Average Shelocta Assessed Value
$124,350
Average Indiana County Assessed Value
$98,600
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Shelocta, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15774 | $26,450 | $72,600 | $124,350 | $176,750 | $256,540 |
Source: Ownwell
Property Tax Bills Across Shelocta, Pennsylvania
In Shelocta, located in Indiana County, PA, property tax bills are calculated based on the assessed value of a home. This assessed value is determined by local tax assessors who evaluate the property's market value and apply a specific assessment ratio. The property tax rate in Shelocta is then applied to this assessed value to determine the tax bill. Factors such as the home's location, size, and any improvements made can influence its assessed value. For homeowners in Shelocta, property taxes can vary significantly. For instance, the tax bill at the 25th percentile is $1,619, while at the 75th percentile, it rises to $3,782, and at the 90th percentile, it can reach as high as $5,634. The median home price in Shelocta is $124,350, making these tax bills a considerable expense for homeowners. Compared to the national median property tax rate of 0.99%, these figures highlight the local tax burden and its impact on household finances.
Average Shelocta Tax Bill
$2,690
Average Indiana County Tax Bill
$2,051
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Shelocta, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15774 | $721 | $1,619 | $2,690 | $3,782 | $5,634 |
Source: Ownwell