Mc Knight, Pennsylvania Property Taxes
The median property tax rate in MC KNIGHT, PA is 2.68%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in MC KNIGHT, the typical annual property tax bill reaches $10,652, far exceeding the national median of $2,690. Property taxes in MC KNIGHT 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 MC KNIGHT'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 MC KNIGHT 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
Mc Knight, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.68%
Estimate Property Tax Bill
$10,630
Ownwell’s MC KNIGHT Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in MC KNIGHT with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in MC KNIGHT 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 Mc Knight, Pennsylvania
Property taxes in MC KNIGHT, PA, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in MC KNIGHT is 2.68%, significantly higher than the U.S. national median of 0.99%. Local government entities within MC KNIGHT set these rates annually, and they can vary significantly across different neighborhoods. Each year, MC KNIGHT 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 MC KNIGHT's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 15237 zip code has both the highest and lowest median property tax rate of 2.68%. Understanding how these areas compare with MC KNIGHT provides valuable insights into the varying tax landscape across Allegheny County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mc Knight Tax Rate
2.68%
Average Allegheny County Tax Rate
2.59%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mc Knight, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15237 | 2.66% | 2.67% | 2.68% | 2.69% | 2.73% |
Source: Ownwell
Property Tax Assessment Values Across Mc Knight, Pennsylvania
In Mc Knight, 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 Allegheny 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 Mc Knight, 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. Being aware of these valuation processes in Mc Knight helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bill in Mc Knight, both at $10,652, are found in the 15237 zip code.
Average Mc Knight Assessed Value
$396,650
Average Allegheny County Assessed Value
$108,200
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mc Knight, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15237 | $365,800 | $368,875 | $396,650 | $443,300 | $471,470 |
Source: Ownwell
Property Tax Bills Across Mc Knight, Pennsylvania
In MC KNIGHT, located in Allegheny County, PA, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local property tax rate to arrive at the annual tax bill. For instance, the median home price in MC KNIGHT is $396,650. The property tax rate in Allegheny County is applied to this assessed value to determine the tax obligation. Homeowners in MC KNIGHT can expect their tax bills to vary, with the 25th percentile tax bill around $10,049, and the 75th percentile tax bill approximately $11,913. The highest tax bill in the area reaches up to $12,702, highlighting the significant impact property values and tax rates have on annual costs. Compared to the national median property tax rate of 0.99%, homeowners in MC KNIGHT face considerably higher property taxes, which can influence decisions on homeownership and financial planning.
Average Mc Knight Tax Bill
$10,652
Average Allegheny County Tax Bill
$2,758
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Mc Knight, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15237 | $9,823 | $10,049 | $10,652 | $11,913 | $12,702 |
Source: Ownwell