Garrett, Pennsylvania Property Taxes
The median property tax rate in Garrett, PA is 2.17%, considerably higher than the national median of 0.99% but lower than the Pennsylvania state median of 2.81%. With the median home value in Garrett at $37,160, the typical annual property tax bill reaches $794, which is significantly below the national median of $2,690. Property taxes in Garrett are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Garrett'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 Garrett 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
Garrett, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.17%
Estimate Property Tax Bill
$806
Ownwell’s Garrett Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Garrett with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Garrett 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 Garrett, Pennsylvania
Property taxes in Garrett, Pennsylvania, are essential in funding local services such as public schools, road maintenance, and emergency services. The median tax rate in Garrett is 1.36%, higher than both the Pennsylvania state median of 1.35% and the U.S. national median of 0.99%. Local government entities within Garrett set these rates annually, and they can vary significantly across different neighborhoods. Each year, Garrett 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 Garrett's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 15542 zip code has the highest median property tax rate of 1.36%, while the same zip code also has the lowest median tax rate of 1.36%. Understanding how these cities compare with Garrett 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 Garrett Tax Rate
2.17%
Average Somerset County Tax Rate
2.69%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Garrett, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15542 | 1.99% | 1.99% | 2.17% | 2.17% | 2.24% |
Source: Ownwell
Property Tax Assessment Values Across Garrett, Pennsylvania
In Garrett, 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 Garrett, 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 Garrett helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 15542 has the highest median tax bill at $794.00.
Average Garrett Assessed Value
$37,160
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 Garrett, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15542 | $13,340 | $23,560 | $37,160 | $57,900 | $84,700 |
Source: Ownwell
Property Tax Bills Across Garrett, Pennsylvania
In Garrett, Somerset County, PA, property tax bills are calculated based on the assessed value of a property, which is determined by local government assessors. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Homeowners in Garrett experience a range of property tax bills, with the 25th percentile paying around $496 and the 75th percentile paying up to $1,205. The highest median tax bill in the area is $794, which is significantly lower than the national median property tax rate of 0.99%. Several factors influence the property tax bill, including the property's assessed value, any applicable exemptions, and local tax rates. These taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the community's quality of life. Homeowners in Garrett benefit from relatively lower property tax bills compared to many other regions, making it an attractive area for those looking to manage their housing expenses effectively.
Average Garrett Tax Bill
$794
Average Somerset County Tax Bill
$1,299
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Garrett, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15542 | $276 | $496 | $794 | $1,205 | $1,744 |
Source: Ownwell