Lilly, Pennsylvania Property Taxes
The median property tax rate in Lilly, PA is 9.53%, significantly higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Lilly, the typical annual property tax bill reaches $1,022, surpassing the national median of $2,690. Property taxes in Lilly 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 Lilly'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 Lilly 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
Lilly, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
9.53%
Estimate Property Tax Bill
$985
Ownwell’s Lilly Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lilly with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lilly 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 Lilly, Pennsylvania
Property taxes in Lilly, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lilly is 1.46%, higher than both the Pennsylvania state median of 1.35% and the U.S. national median of 0.99%. Local government entities within Lilly set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lilly 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 Lilly's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 15938 zip code has the highest median property tax rate of 1.46%, while the 15938 zip code also has the lowest median tax rate of 1.46%. Understanding how these cities compare with Lilly 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 Lilly Tax Rate
9.53%
Average Cambria County Tax Rate
10.13%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lilly, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15938 | 9.25% | 9.53% | 9.53% | 10.55% | 10.55% |
Source: Ownwell
Property Tax Assessment Values Across Lilly, Pennsylvania
In Lilly, 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 Appraisal District 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 Lilly, 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 Lilly helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, zip code 15938 has both the highest and lowest median tax bill, standing at $1,022.
Average Lilly Assessed Value
$10,340
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 Lilly, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15938 | $4,240 | $6,920 | $10,340 | $20,990 | $31,682 |
Source: Ownwell
Property Tax Bills Across Lilly, Pennsylvania
In Lilly, located in Cambria 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 property tax rate to determine the annual tax bill. The median home price in Lilly is $10,340, and the property tax rate in the area is reflective of the national median property tax rate of 0.99%. Homeowners in Lilly can expect their tax bills to vary significantly depending on their property's assessed value. For instance, tax bills in the 25th percentile are around $706, while those in the 75th percentile can reach up to $2,020. At the 90th percentile, tax bills can be as high as $3,093. These figures illustrate the range of property tax burdens that homeowners may face, directly impacting their financial planning and overall cost of homeownership. The highest and lowest median tax bills in the area are both recorded at $1,022 in the 15938 zip code, demonstrating some consistency within certain regions of Cambria County.
Average Lilly Tax Bill
$1,022
Average Cambria County Tax Bill
$1,315
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Lilly, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15938 | $412 | $706 | $1,022 | $2,020 | $3,093 |
Source: Ownwell