Fairview, Pennsylvania Property Taxes
The median property tax rate in Fairview, PA is 2.64%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Fairview, the typical annual property tax bill reaches $4,492, exceeding the national median of $2,690. Property taxes in Fairview 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 Fairview'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 Fairview 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
Fairview, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.64%
Estimate Property Tax Bill
$4,583
Ownwell’s Fairview Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fairview with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fairview 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 Fairview, Pennsylvania
Property taxes in Fairview, PA, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fairview is 2.64%, significantly higher than the U.S. national median of 0.99%. Local government entities within Fairview set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fairview 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 Fairview's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the zip code 16415 has both the highest and lowest median property tax rate of 2.64%. Understanding how these cities compare with Fairview provides valuable insights into the varying tax landscape across Erie County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fairview Tax Rate
2.64%
Average Erie County Tax Rate
2.59%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fairview, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16415 | 2.53% | 2.64% | 2.64% | 2.64% | 2.64% |
Source: Ownwell
Property Tax Assessment Values Across Fairview, Pennsylvania
In Fairview, 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 Erie 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 Fairview, 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. The median home price in Fairview is $173,590, with tax bills ranging from $3,305 at the 25th percentile to $8,788 at the 90th percentile. The zip code 16415 has the highest and lowest median tax bill, both at $4,492. 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 Fairview helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Fairview Assessed Value
$173,590
Average Erie County Assessed Value
$98,900
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fairview, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16415 | $99,806 | $128,135 | $173,590 | $255,400 | $338,460 |
Source: Ownwell
Property Tax Bills Across Fairview, Pennsylvania
In Fairview, PA, 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 local tax rate to determine the annual property tax bill. Several factors influence the assessed value, including the home's market value, location, and any improvements or renovations made to the property. For homeowners in Fairview, the median home price is $173,590. Property tax bills can vary significantly, with the 25th percentile at $3,305 and the 75th percentile at $6,599. The 90th percentile tax bill reaches up to $8,788, showing a wide range of possible tax obligations. Compared to the national median property tax rate of 0.99%, Fairview's property tax rates can result in higher tax bills due to local assessments and tax rates. These property taxes fund essential public services such as schools, infrastructure, and emergency services, making them a crucial part of community development but also a significant financial consideration for homeowners.
Average Fairview Tax Bill
$4,492
Average Erie County Tax Bill
$2,898
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Fairview, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16415 | $2,565 | $3,305 | $4,492 | $6,599 | $8,788 |
Source: Ownwell