Cherry Tree, Cambria County, Pennsylvania Property Taxes
The median property tax rate in Cherry Tree, PA is 10.20%, significantly higher than both the national median of 0.99% and Pennsylvania's state median of 2.81%. With the median home value in Cherry Tree at $14,840, the typical annual property tax bill reaches $1,514, still exceeding the national median of $2,690. Property taxes in Cherry Tree 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 Cherry Tree'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 Cherry Tree 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
Cherry Tree, Cambria County, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
10.2%
Estimate Property Tax Bill
$1,514
$1,405
Ownwell’s Cherry Tree Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cherry Tree with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cherry Tree 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 Cherry Tree, Cambria County, Pennsylvania
Property taxes in Cherry Tree, Pennsylvania, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Cherry Tree is 1.62%, higher than both the Pennsylvania state median of 1.35% and the U.S. national median of 0.99%. Local government entities within Cherry Tree set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cherry Tree 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 Cherry Tree's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 15724 zip code has the highest median property tax rate of 10.20%, while the same zip code also has the lowest median tax rate of 10.20%. Understanding how these cities compare with Cherry Tree provides valuable insights into the varying tax landscape across Cambria County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cherry Tree Tax Rate
10.20%
Average Cambria County Tax Rate
10.13%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cherry Tree, Cambria County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15724 | 10.20% | 10.20% | 10.20% | 10.20% | 10.20% |
Source: Ownwell
Property Tax Assessment Values Across Cherry Tree, Cambria County, Pennsylvania
In Cherry Tree, 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 Cambria 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 Cherry Tree, 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 Cherry Tree helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $1,514, found in the 15724 zip code.
Property Tax Assessment Values Across Cherry Tree, Cambria County, Pennsylvania
Source: Ownwell
$4,060
$11,715
$19,370
Average Cherry Tree Assessed Value
$14,840
Average Cambria County Assessed Value
$12,040
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cherry Tree, Cambria County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15724 | $3,507 | $5,395 | $14,840 | $21,230 | $27,221 |
Source: Ownwell
Property Tax Bills Across Cherry Tree, Cambria County, Pennsylvania
In Cherry Tree, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. Various factors influence the assessed value, including the home's market value, its condition, and any improvements or renovations made. For homeowners in Cherry Tree, the median home price is $14,840. The property tax bill can vary significantly, with the 25th percentile at $550 and the 75th percentile reaching $2,165. In some cases, the tax bill can go as high as $2,777, which falls in the 90th percentile. Comparatively, Cherry Tree's property tax rates are higher than the national median property tax rate of 0.99%. This means that homeowners in Cherry Tree may face higher annual expenses, impacting their overall cost of living. Understanding these factors can help homeowners better anticipate their financial responsibilities and plan accordingly.
Average Cherry Tree Tax Bill
$1,514
Average Cambria County Tax Bill
$1,315
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Cherry Tree, Cambria County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15724 | $358 | $550 | $1,514 | $2,165 | $2,777 |
Source: Ownwell