New Baltimore, Pennsylvania Property Taxes
The median property tax rate in New Baltimore, PA is 2.44%, which is significantly higher than the national median of 0.99%, though slightly below the Pennsylvania state median of 2.81%. With the median home value in New Baltimore at $28,100, the typical annual property tax bill amounts to $686, which is below the national median of $2,690. Property taxes in New Baltimore are calculated based on the tax assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding New Baltimore'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 New Baltimore or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
New Baltimore, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.44%
Estimate Property Tax Bill
$686
Ownwell’s New Baltimore Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in New Baltimore with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in New Baltimore 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 New Baltimore, Pennsylvania
Property taxes in New Baltimore, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in New Baltimore is 2.44%, significantly higher than the U.S. national median of 0.99%. Local government entities within New Baltimore set these rates annually, and they can vary significantly across different neighborhoods. Each year, New Baltimore 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 New Baltimore's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 15553 zip code has the highest median property tax rate of 2.44%, while the same zip code also has the lowest median tax rate of 2.44%. Understanding how these cities compare with New Baltimore 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 New Baltimore Tax Rate
2.44%
Average Somerset County Tax Rate
2.69%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across New Baltimore, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15553 | 2.44% | 2.44% | 2.44% | 2.44% | 2.45% |
Source: Ownwell
Property Tax Assessment Values Across New Baltimore, Pennsylvania
In New Baltimore, 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 New Baltimore, 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 New Baltimore is $28,100, with tax bills ranging from $482 at the 25th percentile to $1,295 at the 90th percentile. The zip code 15553 has the highest median tax bill at $686. Being aware of these valuation processes in New Baltimore helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across New Baltimore, Pennsylvania
Source: Ownwell
$24,110
$76,755
$129,400
Average New Baltimore Assessed Value
$28,100
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 New Baltimore, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15553 | $15,236 | $19,715 | $28,100 | $36,700 | $52,980 |
Source: Ownwell
Property Tax Bills Across New Baltimore, Pennsylvania
In New Baltimore, Somerset County, PA, property tax bills are calculated by multiplying the assessed value of a home by the local tax rate. The assessed value is determined by the county's property assessor, who evaluates the property's market value and applies an assessment ratio. This ratio can vary, affecting the final assessed value used for tax purposes. Homeowners in New Baltimore see tax bills influenced by the median home price of $28,100. For instance, the 25th percentile tax bill is $482, while the 75th percentile reaches $897, and the 90th percentile can be as high as $1,295. These figures indicate the range of property taxes residents might expect, depending on their property's assessed value and the local tax rate. Compared to the national median property tax rate of 0.99%, New Baltimore's property taxes can be considered relatively moderate. Homeowners need to account for these taxes as a part of their annual budgeting, as they can significantly impact overall housing costs.
Average New Baltimore Tax Bill
$686
Average Somerset County Tax Bill
$1,299
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across New Baltimore, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15553 | $373 | $482 | $686 | $897 | $1,295 |
Source: Ownwell