Chestnut Ridge, Fayette County, Pennsylvania Property Taxes
The median property tax rate in Chestnut Ridge, PA is 0.83%, notably lower than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Chestnut Ridge at $21,340, the typical annual property tax bill amounts to $176, significantly below the national median of $2,690. Property taxes in Chestnut Ridge are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Chestnut Ridge'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 Chestnut Ridge or another part of Fayette County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Chestnut Ridge, Fayette County, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.83%
Estimate Property Tax Bill
$177
$164
Ownwell’s Chestnut Ridge Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Chestnut Ridge with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Chestnut Ridge 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 Chestnut Ridge, Fayette County, Pennsylvania
Property taxes in Chestnut Ridge, Pennsylvania, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Chestnut Ridge is 1.35%, significantly higher than both the Pennsylvania state median of 1.46% and the U.S. national median of 0.99%. Local government entities within Chestnut Ridge set these rates annually, and they can vary significantly across different neighborhoods. Each year, Chestnut Ridge 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 Chestnut Ridge's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 15422 zip code has the highest median property tax rate of 1.35%, while the 15422 zip code also has the lowest median tax rate of 1.35%. Understanding how these cities compare with Chestnut Ridge provides valuable insights into the varying tax landscape across Fayette County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Property Tax Rates Across Chestnut Ridge, Fayette County, Pennsylvania
Source: Ownwell
0.71%
1.69%
2.66%
Average Chestnut Ridge Tax Rate
0.83%
Average Fayette County Tax Rate
0.87%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Chestnut Ridge, Fayette County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15422 | 0.81% | 0.82% | 0.83% | 0.84% | 0.86% |
Source: Ownwell
Property Tax Assessment Values Across Chestnut Ridge, Fayette County, Pennsylvania
In Chestnut Ridge, 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 Fayette 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 Chestnut Ridge, 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 Chestnut Ridge 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 region are both $176.00, found in the zip code 15422.
Property Tax Assessment Values Across Chestnut Ridge, Fayette County, Pennsylvania
Source: Ownwell
$15,915
$59,673
$103,430
Average Chestnut Ridge Assessed Value
$21,340
Average Fayette County Assessed Value
$51,500
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Chestnut Ridge, Fayette County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15422 | $11,965 | $15,672 | $21,340 | $29,395 | $38,920 |
Source: Ownwell
Property Tax Bills Across Chestnut Ridge, Fayette County, Pennsylvania
In Chestnut Ridge, Fayette County, PA, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by local tax authorities and may not always match the market value. Homeowners in Chestnut Ridge face a property tax rate that translates to varying annual tax bills depending on their property's assessed value. For instance, the 25th percentile tax bill is around $133, while the 75th percentile tax bill reaches $241. At the 90th percentile, homeowners can expect to pay approximately $317 annually. These figures are relatively modest compared to the national median property tax rate of 0.99%. The highest median tax bill in the area is $176, found in the zip code 15422. These taxes are crucial for funding local services such as schools, public safety, and infrastructure. Understanding how these factors influence the tax bill can help homeowners better manage their finances and plan for future expenses.
Average Chestnut Ridge Tax Bill
$176
Average Fayette County Tax Bill
$548
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Chestnut Ridge, Fayette County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15422 | $103 | $133 | $176 | $241 | $317 |
Source: Ownwell