Fombell, Pennsylvania Property Taxes
The median property tax rate in Fombell, PA is 2.84%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Fombell at $94,850, the typical annual property tax bill reaches $2,696, slightly exceeding the national median of $2,690. Property taxes in Fombell 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 Fombell'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 Fombell 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
Fombell, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.84%
Estimate Property Tax Bill
$2,694
Ownwell’s Fombell Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fombell with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fombell 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 Fombell, Pennsylvania
Property taxes in Fombell, Pennsylvania, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Fombell is 2.84%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Fombell set these rates annually, and they can vary across different neighborhoods. Each year, Fombell 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 Fombell's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the zip code 16123 has both the highest and lowest median property tax rate of 2.84%. Understanding how these cities compare with Fombell 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 Fombell Tax Rate
2.84%
Average Lawrence County Tax Rate
2.91%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fombell, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16123 | 2.84% | 2.84% | 2.84% | 2.84% | 2.84% |
Source: Ownwell
Property Tax Assessment Values Across Fombell, Pennsylvania
In Fombell, 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 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 Fombell, 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 Fombell helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 16123 has the highest and lowest median tax bill, both at $2,696, reflecting the uniformity in property values within the region.
Average Fombell Assessed Value
$94,850
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 Fombell, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16123 | $46,400 | $66,525 | $94,850 | $133,100 | $219,370 |
Source: Ownwell
Property Tax Bills Across Fombell, Pennsylvania
In Fombell, located in Lawrence County, PA, property tax bills are calculated based on the assessed value of a home, which is determined by the county's property assessor. The assessed value is a percentage of the property's market value. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual property tax bill. Several factors influence the assessed value, including the property's location, size, age, and condition. For instance, homes in more desirable neighborhoods or those that have been recently renovated may have higher assessed values. Homeowners in Fombell can expect a wide range of property tax bills. The 25th percentile tax bill is around $1,891, while the 75th percentile tax bill reaches $3,784. At the higher end, the 90th percentile tax bill can be as much as $6,236. Compared to the national median property tax rate of 0.99%, these figures reflect the local economic conditions and property values, significantly impacting homeowners' annual expenses.
Average Fombell Tax Bill
$2,696
Average Lawrence County Tax Bill
$2,023
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Fombell, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16123 | $1,319 | $1,891 | $2,696 | $3,784 | $6,236 |
Source: Ownwell