Bessemer, Pennsylvania Property Taxes
The median property tax rate in Bessemer, PA is 2.94%, significantly higher than both the national median of 0.99% and Pennsylvania's state median of 2.81%. With the median home value in Bessemer at $55,700, the typical annual property tax bill reaches $1,590, which is below the national median of $2,690. Property taxes in Bessemer are calculated based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Bessemer'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 Bessemer or another part of Lawrence County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bessemer, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.94%
Estimate Property Tax Bill
$1,638
Ownwell’s Bessemer Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bessemer with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bessemer 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 Bessemer, Pennsylvania
Property taxes in Bessemer, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bessemer is 2.94%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Bessemer set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bessemer 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 Bessemer's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 16112 zip code has the highest median property tax rate of 2.94%, while the 16112 zip code also has the lowest median tax rate of 2.94%. Understanding how these cities compare with Bessemer provides valuable insights into the varying tax landscape across Lawrence County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bessemer Tax Rate
2.94%
Average Lawrence County Tax Rate
2.91%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bessemer, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16112 | 2.48% | 2.48% | 2.94% | 2.94% | 2.94% |
Source: Ownwell
Property Tax Assessment Values Across Bessemer, Pennsylvania
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Bessemer, Pennsylvania. 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 Lawrence 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 Bessemer, 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 Bessemer helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 16112, both at $1590.
Average Bessemer Assessed Value
$55,700
Average Lawrence County Assessed Value
$65,300
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bessemer, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16112 | $23,380 | $41,500 | $55,700 | $77,200 | $112,660 |
Source: Ownwell
Property Tax Bills Across Bessemer, Pennsylvania
In Bessemer, PA, property tax bills are calculated based on the assessed value of a home, which is determined by the Lawrence County assessment office. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Bessemer, the median home price is $55,700. The property tax rate in Lawrence County results in varying tax bills, with the 25th percentile at $1,212 and the 75th percentile at $2,132. The 90th percentile tax bill can reach up to $3,034. The tax bill impacts homeowners significantly, as it represents a recurring cost that must be factored into the overall affordability of homeownership. Compared to the national median property tax rate of 0.99%, Bessemer's rates can be relatively high, particularly for those at the upper end of the tax bill spectrum. This means homeowners need to budget carefully to manage these expenses, especially in areas with higher assessed values or higher local tax rates.
Average Bessemer Tax Bill
$1,590
Average Lawrence County Tax Bill
$2,023
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Bessemer, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16112 | $675 | $1,212 | $1,590 | $2,132 | $3,034 |
Source: Ownwell