Home, Pennsylvania Property Taxes
The median property tax rate in HOME, PA is 2.83%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in HOME at $131,830, the typical annual property tax bill reaches $3,735, exceeding the national median of $2,690. Property taxes in HOME 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 HOME'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 HOME 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
Home, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.83%
Estimate Property Tax Bill
$3,731
Ownwell’s HOME Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in HOME with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in HOME 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 Home, Pennsylvania
Property taxes in HOME, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in HOME is 2.83%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within HOME set these rates annually, and they can vary significantly across different neighborhoods. Each year, HOME 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 HOME's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the zip code 15747 has the highest median property tax rate of 2.83%, while the lowest median tax rate is also 2.83% in the same zip code. Understanding how these cities compare with HOME provides valuable insights into the varying tax landscape across Armstrong County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Home Tax Rate
2.83%
Average Armstrong County Tax Rate
2.94%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Home, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15747 | 2.83% | 2.83% | 2.83% | 2.83% | 2.83% |
Source: Ownwell
Property Tax Assessment Values Across Home, Pennsylvania
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in HOME, Pennsylvania. 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 Armstrong 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 HOME, 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 HOME helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 15747 has both the highest and lowest median tax bills, valued at $3,735.
Average Home Assessed Value
$131,830
Average Armstrong County Assessed Value
$84,270
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Home, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15747 | $131,830 | $131,830 | $131,830 | $131,830 | $131,830 |
Source: Ownwell
Property Tax Bills Across Home, Pennsylvania
In HOME, located in Armstrong County, PA, property tax bills are calculated based on the assessed value of a home. The tax rate is applied to this assessed value to determine the annual tax bill. With a median home price of $131,830, homeowners can expect their property tax bill to be around $3,735, regardless of their home's value percentile. This uniform tax bill is significantly higher than the national median property tax rate of 0.99%. Factors influencing the tax bill include the assessed value of the property, which is determined by local assessors and may not always reflect the current market value. Homeowners in HOME should be aware that their property tax bill can have a substantial impact on their annual expenses. The relatively high tax rate in Armstrong County means that property taxes are a considerable part of homeownership costs, potentially affecting decisions about buying or selling property in the area.
Average Home Tax Bill
$3,735
Average Armstrong County Tax Bill
$2,533
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Home, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15747 | $3,735 | $3,735 | $3,735 | $3,735 | $3,735 |
Source: Ownwell