Meyersdale, Pennsylvania Property Taxes
The median property tax rate in Meyersdale, PA is 1.99%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Meyersdale at $40,990, the typical annual property tax bill reaches $937, which is below the national median of $2,690. Property taxes in Meyersdale 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 Meyersdale'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 Meyersdale 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
Meyersdale, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.99%
Estimate Property Tax Bill
$816
Ownwell’s Meyersdale Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Meyersdale with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Meyersdale 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 Meyersdale, Pennsylvania
Property taxes in Meyersdale, Pennsylvania, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Meyersdale is 1.99%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Meyersdale set these rates annually, and they can vary significantly across different neighborhoods. Each year, Meyersdale 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 Meyersdale's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 15552 zip code has the highest median property tax rate of 1.99%, while the 15552 zip code also has the lowest median tax rate of 1.99%. Understanding how these cities compare with Meyersdale 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 Meyersdale Tax Rate
1.99%
Average Somerset County Tax Rate
2.69%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Meyersdale, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15552 | 1.90% | 1.97% | 1.99% | 2.51% | 2.51% |
Source: Ownwell
Property Tax Assessment Values Across Meyersdale, Pennsylvania
In Meyersdale, 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 Meyersdale, 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. For instance, Meyersdale's median home price stands at $40,990, with tax bills ranging from $646 at the 25th percentile to $1,858 at the 90th percentile. Being aware of these valuation processes in Meyersdale helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Meyersdale Assessed Value
$40,990
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 Meyersdale, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15552 | $15,620 | $29,610 | $40,990 | $63,100 | $90,590 |
Source: Ownwell
Property Tax Bills Across Meyersdale, Pennsylvania
In Meyersdale, PA, property tax bills are determined by the assessed value of a home and the local tax rate. The assessed value is a percentage of the market value, which is then multiplied by the tax rate set by Somerset County. For example, a home with a median price of $40,990 will have its tax bill calculated based on this assessed value. Factors such as property size, location, and improvements can influence the assessed value, thereby affecting the tax bill. Homeowners in Meyersdale can expect property tax bills that vary significantly. At the 25th percentile, the tax bill is around $646, while at the 75th percentile, it rises to $1,349. The 90th percentile sees tax bills as high as $1,858. These figures highlight the range of property tax burdens homeowners may face, influenced by the specific characteristics of their properties. Compared to the national median property tax rate of 0.99%, Meyersdale's property tax rates reflect the local economic conditions and funding requirements for public services.
Average Meyersdale Tax Bill
$937
Average Somerset County Tax Bill
$1,299
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Meyersdale, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15552 | $325 | $646 | $937 | $1,349 | $1,858 |
Source: Ownwell