Sigel, Elk County, Pennsylvania Property Taxes
The median property tax rate in Sigel, PA is 2.93%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Sigel, the typical annual property tax bill reaches $348, which is significantly lower than the national median of $2,690. Property taxes in Sigel 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 Sigel'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 Sigel 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
Sigel, Elk County, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.93%
Estimate Property Tax Bill
$343
$318
Ownwell’s Sigel Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sigel with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sigel 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 Sigel, Elk County, Pennsylvania
Property taxes in Sigel, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sigel is 2.93%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Sigel set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sigel 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 Sigel's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the zip code 15860 has the highest median property tax rate of 2.93%, while the same zip code also has the lowest median tax rate of 2.93%. Understanding how these figures compare with Sigel provides valuable insights into the varying tax landscape across Elk County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Sigel Tax Rate
2.93%
Average Elk County Tax Rate
3.06%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sigel, Elk County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15860 | 2.93% | 2.93% | 2.93% | 2.99% | 2.99% |
Source: Ownwell
Property Tax Assessment Values Across Sigel, Elk County, Pennsylvania
In Sigel, 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 Elk 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 Sigel, 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 Sigel 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 $348.00, found in the 15860 zip code.
Property Tax Assessment Values Across Sigel, Elk County, Pennsylvania
Source: Ownwell
$11,700
$31,450
$51,200
Average Sigel Assessed Value
$11,700
Average Elk County Assessed Value
$39,300
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Sigel, Elk County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15860 | $2,400 | $5,200 | $11,700 | $26,100 | $46,200 |
Source: Ownwell
Property Tax Bills Across Sigel, Elk County, Pennsylvania
In Sigel, located in Elk County, PA, property tax bills are calculated based on the assessed value of a property, which is determined by the local tax assessor. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Sigel, the median home price is $11,700. Property tax bills vary significantly, with the 25th percentile tax bill at $153 and the 75th percentile at $769. Those in the 90th percentile see tax bills as high as $1,369. The highest and lowest median tax bills in the area are both $348, which provides a benchmark for typical property tax expenses. Compared to the national median property tax rate of 0.99%, homeowners in Sigel may find their property tax rates to be relatively manageable. These taxes fund essential local services such as schools, roads, and emergency services, directly impacting the quality of life and property values in the community.
Average Sigel Tax Bill
$348
Average Elk County Tax Bill
$1,325
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Sigel, Elk County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15860 | $72 | $153 | $348 | $769 | $1,369 |
Source: Ownwell