Gray, Pennsylvania Property Taxes
The median property tax rate in Gray, PA is 2.69%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Gray at $33,745, the typical annual property tax bill reaches $907, which is significantly lower than the national median of $2,690. Property taxes in Gray 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 Gray'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 Gray 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
Gray, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.69%
Estimate Property Tax Bill
$908
Ownwell’s GRAY Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in GRAY with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in GRAY 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 Gray, Pennsylvania
Property taxes in Gray, Pennsylvania, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gray is 2.69%, significantly higher than the U.S. national median of 0.99%. Local government entities within Gray set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gray 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 Gray's effective property tax rate to other areas and the national median. For comparison, the zip code 15544 has the highest median property tax rate of 2.69%, while the same zip code also has the lowest median tax rate of 2.69%. Understanding how these cities compare with Gray 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 Gray Tax Rate
2.69%
Average Somerset County Tax Rate
2.69%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gray, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15544 | 2.69% | 2.69% | 2.69% | 2.69% | 2.69% |
Source: Ownwell
Property Tax Assessment Values Across Gray, Pennsylvania
In Gray, 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 Gray, 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. The median home price in Gray is $33,745, with tax bills ranging from $750 at the 25th percentile to $1,340 at the 90th percentile. The highest median tax bill is $907 in zip code 15544. Being aware of these valuation processes in Gray helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Gray Assessed Value
$33,745
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 Gray, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15544 | $15,758 | $27,910 | $33,745 | $41,975 | $49,868 |
Source: Ownwell
Property Tax Bills Across Gray, Pennsylvania
In Gray, Somerset County, PA, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county's tax assessor and reflects a percentage of the property's market value. Homeowners in Gray can expect their tax bills to vary significantly, with the 25th percentile paying around $750 and the 75th percentile paying up to $1,128. For those at the 90th percentile, tax bills can reach as high as $1,340. These tax bills are influenced by various factors, including property size, location, and any improvements made to the home. Compared to the national median property tax rate of 0.99%, Gray's property tax rates are relatively moderate. This means that while property taxes in Gray are a necessary expense, they are not excessively burdensome relative to other regions in the country. For homeowners, understanding these factors can help in budgeting and financial planning, ensuring they are prepared for their annual property tax obligations.
Average Gray Tax Bill
$907
Average Somerset County Tax Bill
$1,299
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Gray, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15544 | $424 | $750 | $907 | $1,128 | $1,340 |
Source: Ownwell