Sipesville, Pennsylvania Property Taxes
The median property tax rate in Sipesville, PA is 3.22%, significantly higher than both the national median of 0.99% and Pennsylvania's state median of 2.81%. With the median home value in Sipesville, the typical annual property tax bill amounts to $1,629, which is below the national median of $2,690. Property taxes in Sipesville are calculated based on the assessed value, which is often lower than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Sipesville's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Sipesville or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Sipesville, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.22%
Estimate Property Tax Bill
$1,628
Ownwell’s Sipesville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sipesville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sipesville 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 Sipesville, Pennsylvania
Property taxes in Sipesville, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sipesville is 3.22%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Sipesville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sipesville 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 Sipesville's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 15561 zip code has the highest median property tax rate of 3.22%, while the same zip code also has the lowest median tax rate of 3.22%. Understanding how these cities compare with Sipesville 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 Sipesville Tax Rate
3.22%
Average Somerset County Tax Rate
2.69%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sipesville, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15561 | 3.22% | 3.22% | 3.22% | 3.22% | 3.22% |
Source: Ownwell
Property Tax Assessment Values Across Sipesville, Pennsylvania
In Sipesville, 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 Sipesville, 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, the highest median tax bill in Sipesville is $1,629 in zip code 15561. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Sipesville Assessed Value
$50,560
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 Sipesville, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15561 | $36,110 | $43,650 | $50,560 | $59,850 | $72,660 |
Source: Ownwell
Property Tax Bills Across Sipesville, Pennsylvania
In Sipesville, Somerset County, PA, property tax bills are determined based on the assessed value of a home and the local tax rate. The assessed value is a percentage of the market value, which is determined by county assessors. Homeowners in Sipesville can expect their property tax bills to vary significantly. For instance, the tax bill at the 25th percentile is $1,406, while at the 75th percentile, it’s $1,928, and at the 90th percentile, it reaches $2,341. These figures highlight the variability in tax burdens based on property values and local tax rates. With the median home price in Sipesville at $50,560, the property tax rate in the area is relatively high compared to the national median property tax rate of 0.99%. This means that homeowners in Sipesville may face higher property taxes relative to the value of their homes, impacting their overall housing costs and financial planning.
Average Sipesville Tax Bill
$1,629
Average Somerset County Tax Bill
$1,299
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Sipesville, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15561 | $1,163 | $1,406 | $1,629 | $1,928 | $2,341 |
Source: Ownwell