Freedom, Pennsylvania Property Taxes
The median property tax rate in Freedom, PA is 6.27%, significantly higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With a median home value of $54,000 in Freedom, the typical annual property tax bill reaches $3,277, far exceeding the national median of $2,690. Property taxes in Freedom are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Freedom'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 Freedom 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
Freedom, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
6.27%
Estimate Property Tax Bill
$3,386
Ownwell’s Freedom Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Freedom with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Freedom 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 Freedom, Pennsylvania
Property taxes in Freedom, Pennsylvania, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Freedom is 6.27%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Freedom set these rates annually, and they can vary significantly across different neighborhoods. Each year, Freedom 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 Freedom's effective property tax rate to other areas in Pennsylvania and the national median. For comparison, the 15042 zip code has the highest median property tax rate of 6.27%, while the same zip code also has the lowest median tax rate of 6.27%. Understanding how these areas compare with Freedom provides valuable insights into the varying tax landscape across Beaver County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Freedom Tax Rate
6.27%
Average Beaver County Tax Rate
6.15%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Freedom, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15042 | 5.52% | 5.52% | 6.27% | 6.27% | 6.30% |
Source: Ownwell
Property Tax Assessment Values Across Freedom, Pennsylvania
In Freedom, 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 Beaver 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. Assessment notices in Freedom 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 Freedom helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Freedom is $3,277 in the 15042 zip code, while the lowest is also $3,277 in the same zip code.
Average Freedom Assessed Value
$54,000
Average Beaver County Assessed Value
$44,800
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Freedom, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15042 | $22,460 | $35,125 | $54,000 | $72,300 | $97,350 |
Source: Ownwell
Property Tax Bills Across Freedom, Pennsylvania
In Freedom, located in Beaver County, PA, property tax bills are calculated based on the assessed value of a home, which is determined by local government assessors. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For example, with a median home price of $54,000, homeowners can expect varying tax bills depending on their property's assessed value and specific circumstances. The tax bill can range significantly, with the 25th percentile paying around $2,121 and those in the 75th percentile facing up to $4,152. At the higher end, the 90th percentile sees tax bills as high as $5,717. These figures illustrate the potential financial impact on homeowners, emphasizing the importance of accurate property assessments and available exemptions. Comparatively, the national median property tax rate is 0.99%, which can help residents gauge how their local taxes stack up against the broader national landscape. Understanding these factors is crucial for homeowners to manage their finances effectively and plan for their annual tax obligations.
Average Freedom Tax Bill
$3,277
Average Beaver County Tax Bill
$2,704
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Freedom, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15042 | $1,380 | $2,121 | $3,277 | $4,152 | $5,717 |
Source: Ownwell