Verona, Pennsylvania Property Taxes
The median property tax rate in Verona, PA is 0.93%, slightly below the national median of 0.99% and significantly lower than Pennsylvania's state median of 2.81%. With the median home value in Verona at $70,800, the typical annual property tax bill is $717, which is much less than the national median of $2,690. Property taxes in Verona are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence exemption. Understanding Verona'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 Verona or another part of Allegheny County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Verona, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.93%
Estimate Property Tax Bill
$658
Ownwell’s Verona Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Verona with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Verona 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 Verona, Pennsylvania
Property taxes in Verona, Pennsylvania, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Verona is 0.93%, slightly lower than the U.S. national median of 0.99%. Local government entities within Verona set these rates annually, and they can vary significantly across different neighborhoods. Each year, Verona 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 Verona's effective property tax rate to other areas in Pennsylvania and the national median. For comparison, the 15147 zip code has the highest median property tax rate of 0.93%, while also having the lowest median tax rate of 0.93%. Understanding how these cities compare with Verona 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 Verona Tax Rate
0.93%
Average Allegheny County Tax Rate
2.59%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Verona, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15147 | 0.77% | 0.84% | 0.93% | 1.12% | 2.78% |
Source: Ownwell
Property Tax Assessment Values Across Verona, Pennsylvania
In Verona, 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 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 Verona, 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 Verona helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 15147 has both the highest and lowest median tax bill at $717.
Average Verona Assessed Value
$70,800
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 Verona, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15147 | $40,000 | $56,300 | $70,800 | $89,325 | $115,240 |
Source: Ownwell
Property Tax Bills Across Verona, Pennsylvania
Property tax bills in Verona, located in Allegheny County, PA, are calculated based on the assessed value of a property, which often differs from its market value. The county assesses properties periodically to determine their taxable value. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as property improvements, neighborhood developments, and changes in market conditions can influence the assessed value. For homeowners in Verona, the median home price is $70,800. Property tax bills can vary significantly, with the 25th percentile at $535 and the 75th percentile reaching $1,020. For those at the 90th percentile, tax bills can be as high as $1,665. Comparatively, the national median property tax rate is 0.99%, making Verona's rates relatively moderate. Understanding these factors helps homeowners anticipate their tax obligations and plan their finances accordingly.
Average Verona Tax Bill
$717
Average Allegheny County Tax Bill
$2,758
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Verona, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15147 | $390 | $535 | $717 | $1,020 | $1,665 |
Source: Ownwell