Mcknight, Pennsylvania Property Taxes
The median property tax rate in McKnight, PA is 0.67%, significantly lower than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With a median home value of $141,800 in McKnight, the typical annual property tax bill is $987, well below the national median of $2,690. Property taxes in McKnight are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding McKnight'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 McKnight 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
Mcknight, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.67%
Estimate Property Tax Bill
$950
Ownwell’s McKnight Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in McKnight with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in McKnight 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 Mcknight, Pennsylvania
Property taxes in McKnight, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in McKnight stands at 0.67%, which is lower than the U.S. national median of 0.99%. Local government entities within McKnight set these rates annually, and they can vary significantly across different neighborhoods. Each year, McKnight 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 McKnight's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 15237 zip code has the highest median property tax rate of 0.67%, while the same zip code also has the lowest median tax rate of 0.67%. Understanding how these cities compare with McKnight 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 Mcknight Tax Rate
0.67%
Average Allegheny County Tax Rate
2.59%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mcknight, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15237 | 0.62% | 0.64% | 0.67% | 0.74% | 2.27% |
Source: Ownwell
Property Tax Assessment Values Across Mcknight, Pennsylvania
In McKnight, 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 McKnight, 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 McKnight helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 15237, with a median tax bill of $987, which is also the lowest in the area.
Average Mcknight Assessed Value
$141,800
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 Mcknight, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15237 | $105,680 | $118,300 | $141,800 | $181,200 | $218,140 |
Source: Ownwell
Property Tax Bills Across Mcknight, Pennsylvania
In McKnight, Allegheny County, PA, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and reflects a percentage of the property's market value. Homeowners in McKnight typically see tax bills that vary significantly depending on their property's value. For instance, the 25th percentile tax bill is around $808, while the 75th percentile tax bill reaches $1,352. At the higher end, the 90th percentile tax bill can be as much as $2,885. These tax bills are influenced by multiple factors, including the property's assessed value and the local tax rate. The median home price in McKnight is $141,800, which helps determine the overall tax liability. Compared to the national median property tax rate of 0.99%, the figures in McKnight demonstrate a range of tax burdens that can impact homeowners differently. Understanding these factors is crucial for homeowners to anticipate their annual property tax expenses accurately.
Average Mcknight Tax Bill
$987
Average Allegheny County Tax Bill
$2,758
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Mcknight, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15237 | $692 | $808 | $987 | $1,352 | $2,885 |
Source: Ownwell