Glencoe, Pennsylvania Property Taxes
The median property tax rate in Glencoe, PA is 2.22%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Glencoe, the typical annual property tax bill reaches $536, which is below the national median of $2,690. Property taxes in Glencoe 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 Glencoe'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 Glencoe 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
Glencoe, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.22%
Estimate Property Tax Bill
$535
Ownwell’s Glencoe Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Glencoe with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Glencoe 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 Glencoe, Pennsylvania
Property taxes in Glencoe, Pennsylvania, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Glencoe is 2.22%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Glencoe set these rates annually, and they can vary significantly across different neighborhoods. Each year, Glencoe 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 Glencoe's effective property tax rate to other areas and the national median. For comparison, the 15538 zip code has the same median property tax rate of 2.22%. Understanding how these areas compare with Glencoe 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 Glencoe Tax Rate
2.22%
Average Somerset County Tax Rate
2.69%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Glencoe, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15538 | 2.22% | 2.22% | 2.22% | 2.22% | 2.22% |
Source: Ownwell
Property Tax Assessment Values Across Glencoe, Pennsylvania
In Glencoe, 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 Appraisal District 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 Glencoe, 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. For instance, the highest median tax bill in the area is $536 in the 15538 zip code. 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 Glencoe helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Glencoe Assessed Value
$24,110
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 Glencoe, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15538 | $15,502 | $18,730 | $24,110 | $28,525 | $31,174 |
Source: Ownwell
Property Tax Bills Across Glencoe, Pennsylvania
In Glencoe, PA, property tax bills are determined based on the assessed value of a home, which is then multiplied by the local tax rate. The median home price in Glencoe is $24,110. Property taxes in this area can vary significantly, as shown by the tax bills at different percentiles: the 25th percentile tax bill is $417, while the 75th percentile reaches $634, and the 90th percentile is $693. These figures indicate a range of property tax burdens depending on the value and characteristics of the property. Homeowners in Glencoe should note that their property tax bill will be influenced by the assessed value of their property, which might not always reflect its current market value. This assessed value is then subject to the local tax rate, which can fluctuate based on county budgetary needs and other factors. Compared to the national median property tax rate of 0.99%, Glencoe's rates result in relatively modest tax bills, providing some relief to homeowners in this region.
Average Glencoe Tax Bill
$536
Average Somerset County Tax Bill
$1,299
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Glencoe, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15538 | $345 | $417 | $536 | $634 | $693 |
Source: Ownwell