Twin Rocks, Pennsylvania Property Taxes
The median property tax rate in Twin Rocks, PA is 8.70%, significantly higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Twin Rocks, the typical annual property tax bill reaches $634, which is lower than the national median of $2,690. Property taxes in Twin Rocks are calculated based on the tax assessed value, often lower than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Twin Rocks' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Twin Rocks or another part of Cambria County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Twin Rocks, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
8.7%
Estimate Property Tax Bill
$634
Ownwell’s Twin Rocks Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Twin Rocks with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Twin Rocks 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 Twin Rocks, Pennsylvania
Property taxes in Twin Rocks, Pennsylvania, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Twin Rocks is 8.70%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Twin Rocks set these rates annually, and they can vary significantly across different neighborhoods. Each year, Twin Rocks 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 Twin Rocks' effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 15960 zip code has the highest median property tax rate of 8.70%, while the same zip code also has the lowest median tax rate of 8.70%. Understanding how these cities compare with Twin Rocks 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 Twin Rocks Tax Rate
8.70%
Average Cambria County Tax Rate
10.13%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Twin Rocks, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15960 | 8.70% | 8.70% | 8.70% | 8.70% | 8.70% |
Source: Ownwell
Property Tax Assessment Values Across Twin Rocks, Pennsylvania
In Twin Rocks, 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 Twin Rocks, 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 Twin Rocks helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills are both $634.00 in zip code 15960.
Average Twin Rocks Assessed Value
$7,290
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 Twin Rocks, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15960 | $4,162 | $5,595 | $7,290 | $9,728 | $19,017 |
Source: Ownwell
Property Tax Bills Across Twin Rocks, Pennsylvania
In Twin Rocks, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is then multiplied by the property tax rate set by Cambria County. For homeowners, understanding these factors is crucial as they directly impact the annual tax bill. For instance, homes in Twin Rocks have a median home price of $7,290. Property tax bills can vary widely, with the 25th percentile tax bill at $487 and the 75th percentile at $846. The top 10% of tax bills can reach up to $1,655. These figures highlight the range of property tax liabilities homeowners might face. Compared to the national median property tax rate of 0.99%, Twin Rocks residents experience a different tax landscape. This variability underscores the importance of accurate property assessments and awareness of local tax rates. Homeowners must stay informed to manage their property tax responsibilities effectively.
Average Twin Rocks Tax Bill
$634
Average Cambria County Tax Bill
$1,315
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Twin Rocks, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15960 | $362 | $487 | $634 | $846 | $1,655 |
Source: Ownwell