Boynton, Pennsylvania Property Taxes
The median property tax rate in Boynton, PA is 1.97%, considerably higher than the national median of 0.99% but lower than the Pennsylvania state median of 2.81%. With a median home value of $41,200 in Boynton, the typical annual property tax bill amounts to $813, which is below the national median of $2,690. Property taxes in Boynton are calculated based on the assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Boynton'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 Boynton or another part of Somerset County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Boynton, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.97%
Estimate Property Tax Bill
$812
Ownwell’s Boynton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Boynton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Boynton 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 Boynton, Pennsylvania
Property taxes in Boynton, Pennsylvania, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Boynton is 1.97%, which is significantly higher than the U.S. national median of 0.99%. Local government entities within Boynton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Boynton 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 Boynton's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 15532 zip code has the highest median property tax rate of 1.97%, while the same zip code also has the lowest median tax rate of 1.97%. Understanding how these cities compare with Boynton provides valuable insights into the varying tax landscape across Somerset County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Boynton Tax Rate
1.97%
Average Somerset County Tax Rate
2.69%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Boynton, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15532 | 1.97% | 1.97% | 1.97% | 1.97% | 1.97% |
Source: Ownwell
Property Tax Assessment Values Across Boynton, Pennsylvania
In Boynton, 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 Somerset 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 Boynton, 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. Boynton's median home price is $41,200, with the 25th percentile tax bill at $667 and the 75th percentile at $975. The highest and lowest median tax bills are both $813 in zip code 15532. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Boynton Assessed Value
$41,200
Average Somerset County Assessed Value
$50,500
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Boynton, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15532 | $20,058 | $33,800 | $41,200 | $49,400 | $57,920 |
Source: Ownwell
Property Tax Bills Across Boynton, Pennsylvania
In Boynton, Somerset County, PA, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local tax assessor and reflects a percentage of the property's market value. Homeowners in this region experience a range of tax bills depending on various factors, including the property's location within the county and its assessed value. For instance, the median home price in Boynton is $41,200, leading to tax bills that vary significantly across different percentiles. At the 25th percentile, homeowners can expect a tax bill of around $667, while those at the 75th percentile might see a bill closer to $975. The highest tax bills, reaching the 90th percentile, can be as much as $1,143. These property taxes are crucial for funding local services such as schools, public safety, and infrastructure, directly impacting the quality of life for residents. Compared to the national median property tax rate of 0.99%, Boynton's rates reflect the unique economic and real estate conditions of Somerset County.
Average Boynton Tax Bill
$813
Average Somerset County Tax Bill
$1,299
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Boynton, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15532 | $396 | $667 | $813 | $975 | $1,143 |
Source: Ownwell