Chest Springs, Pennsylvania Property Taxes
The median property tax rate in Chest Springs, PA is 10.15%, significantly higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Chest Springs at $10,980, the typical annual property tax bill reaches $1,062, exceeding the national median of $2,690. Property taxes in Chest Springs 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 Chest Springs' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Chest Springs 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
Chest Springs, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
10.15%
Estimate Property Tax Bill
$1,114
Ownwell’s Chest Springs Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Chest Springs with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Chest Springs 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 Chest Springs, Pennsylvania
Property taxes in Chest Springs, Pennsylvania, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Chest Springs is 10.15%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Chest Springs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Chest Springs 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 Chest Springs' effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the zip code 16624 has the highest median property tax rate of 10.15%, while the same zip code also has the lowest median tax rate of 10.15%. Understanding how these cities compare with Chest Springs 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 Chest Springs Tax Rate
10.15%
Average Cambria County Tax Rate
10.13%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Chest Springs, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16624 | 9.60% | 10.15% | 10.15% | 10.15% | 10.15% |
Source: Ownwell
Property Tax Assessment Values Across Chest Springs, Pennsylvania
In Chest Springs, 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 Chest Springs, 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 Chest Springs helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Chest Springs is $10,980, with the highest and lowest median tax bill being $1,062 in the 16624 zip code.
Property Tax Assessment Values Across Chest Springs, Pennsylvania
Source: Ownwell
$4,060
$11,715
$19,370
Average Chest Springs Assessed Value
$10,980
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 Chest Springs, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16624 | $3,820 | $7,180 | $10,980 | $20,300 | $27,530 |
Source: Ownwell
Property Tax Bills Across Chest Springs, Pennsylvania
In Chest Springs, located in Cambria County, PA, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor, who evaluates the property's market value and applies an assessment ratio. This assessed value is then multiplied by the local tax rate to calculate the annual property tax bill. Factors like property improvements, neighborhood developments, and changes in market conditions can influence the assessed value. For homeowners in Chest Springs, the median home price stands at $10,980, which is significantly lower than the national median. Despite the lower home values, property taxes can still be substantial, with tax bills ranging from $729 at the 25th percentile to $2,808 at the 90th percentile. This variance highlights the potential impact on household budgets, making it essential for homeowners to understand their assessments and explore possible exemptions or appeals to manage their tax liabilities effectively.
Average Chest Springs Tax Bill
$1,062
Average Cambria County Tax Bill
$1,315
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Chest Springs, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16624 | $390 | $729 | $1,062 | $2,044 | $2,808 |
Source: Ownwell