Monaca, Pennsylvania Property Taxes
The median property tax rate in Monaca, PA is 5.30%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Monaca at $47,400, the typical annual property tax bill reaches $2,663, which is just below the national median of $2,690. Property taxes in Monaca 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 Monaca'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 Monaca 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
Monaca, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
5.3%
Estimate Property Tax Bill
$2,512
Ownwell’s Monaca Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Monaca with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Monaca 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 Monaca, Pennsylvania
Property taxes in Monaca, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Monaca is 5.30%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Monaca set these rates annually, and they can vary significantly across different neighborhoods. Each year, Monaca 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 Monaca's effective property tax rate to other areas in Pennsylvania and the national median. For comparison, the zip code 15061 has the highest median property tax rate of 5.30%, while the same zip code also holds the lowest median tax rate of 5.30%. Understanding how these cities compare with Monaca 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 Monaca Tax Rate
5.30%
Average Beaver County Tax Rate
6.15%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Monaca, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15061 | 5.30% | 5.30% | 5.30% | 6.12% | 6.12% |
Source: Ownwell
Property Tax Assessment Values Across Monaca, Pennsylvania
In Monaca, 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 Monaca 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 Monaca helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 15061 has both the highest and lowest median tax bill, standing at $2,663.
Average Monaca Assessed Value
$47,400
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 Monaca, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15061 | $24,000 | $33,200 | $47,400 | $63,300 | $92,030 |
Source: Ownwell
Property Tax Bills Across Monaca, Pennsylvania
Property tax bills in Monaca, located in Beaver County, PA, are calculated based on the assessed value of a property and the applicable tax rate. The median home price in Monaca is $47,400. Homeowners in the area experience property tax bills that can vary significantly, with the 25th percentile tax bill at $1,971 and the 75th percentile tax bill at $3,554. For those at the 90th percentile, the tax bill can be as high as $5,001. These figures indicate a wide range of property tax burdens, reflecting differences in property values and assessments. The calculation of the tax bill involves multiplying the assessed value of the property by the local tax rate. This assessed value is determined by the county and is meant to reflect the market value of the property. Factors such as property size, location, and improvements can influence the assessed value. For homeowners, understanding these factors is crucial as they directly impact the annual property tax bill, which can be a significant part of homeownership costs.
Average Monaca Tax Bill
$2,663
Average Beaver County Tax Bill
$2,704
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Monaca, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15061 | $1,420 | $1,971 | $2,663 | $3,554 | $5,001 |
Source: Ownwell