Alum Bank, Pennsylvania Property Taxes
The median property tax rate in Alum Bank, PA, is 1.38%, considerably higher than both the national median of 0.99% and Pennsylvania's state median of 2.81%. With a median home value of $99,300 in Alum Bank, the typical annual property tax bill reaches $1,312, which is below the national median of $2,690. Property taxes in Alum Bank 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 Alum Bank'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 Alum Bank 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
Alum Bank, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.38%
Estimate Property Tax Bill
$1,370
Ownwell’s Alum Bank Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Alum Bank with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Alum Bank 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 Alum Bank, Pennsylvania
Property taxes in Alum Bank, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Alum Bank is 1.38%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Alum Bank set these rates annually, and they can vary significantly across different neighborhoods. Each year, Alum Bank 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 Alum Bank's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the zip code 15521 has the highest median property tax rate of 1.38%, while the same zip code also has the lowest median tax rate of 1.38%. Understanding how these cities compare with Alum Bank provides valuable insights into the varying tax landscape across Bedford County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Alum Bank Tax Rate
1.38%
Average Bedford County Tax Rate
1.45%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Alum Bank, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15521 | 1.33% | 1.38% | 1.38% | 1.38% | 1.38% |
Source: Ownwell
Property Tax Assessment Values Across Alum Bank, Pennsylvania
In Alum Bank, 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 Bedford 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 Alum Bank, 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 Alum Bank helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 15521 has the highest and lowest median tax bill, both valued at $1312.
Average Alum Bank Assessed Value
$99,300
Average Bedford County Assessed Value
$101,200
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Alum Bank, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15521 | $27,160 | $60,700 | $99,300 | $160,275 | $239,150 |
Source: Ownwell
Property Tax Bills Across Alum Bank, Pennsylvania
In Alum Bank, PA, property tax bills are determined based on the assessed value of a home and the local tax rate. The assessed value is a percentage of the market value, which is then multiplied by the tax rate set by Bedford County. For instance, with a median home price of $99,300, homeowners can expect varying tax bills depending on the assessed value and applicable exemptions. Factors such as property size, location, and improvements can influence the assessed value. In Alum Bank, the 25th percentile tax bill is around $791, while the 75th percentile tax bill reaches up to $2,090. The 90th percentile can see tax bills as high as $2,926, highlighting the range of potential costs homeowners may face. Compared to the national median property tax rate of 0.99%, homeowners in Alum Bank experience a diverse range of tax bills. Understanding these factors and how they affect the overall tax bill is crucial for homeowners planning their finances and managing their property investments.
Average Alum Bank Tax Bill
$1,312
Average Bedford County Tax Bill
$1,429
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Alum Bank, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15521 | $356 | $791 | $1,312 | $2,090 | $2,926 |
Source: Ownwell