Mill Run, Fayette County, Pennsylvania Property Taxes
The median property tax rate in Mill Run, PA is 0.78%, which is lower than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Mill Run, the typical annual property tax bill amounts to $460, significantly below the national median of $2,690. Property taxes in Mill Run are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Mill Run'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 Mill Run 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
Mill Run, Fayette County, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.78%
Estimate Property Tax Bill
$510
$473
Ownwell’s Mill Run Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Mill Run with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mill Run to estimate your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, taking into account any exemptions that may apply.
Property Tax Rates Across Mill Run, Fayette County, Pennsylvania
Property taxes in Mill Run, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mill Run is 0.78%, which is lower than both the Pennsylvania state median of 1.35% and the U.S. national median of 0.99%. Local government entities within Mill Run set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mill Run 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 Mill Run's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 15464 zip code has both the highest and lowest median property tax rate of 0.78%. Understanding how these cities compare with Mill Run 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.
Average Mill Run Tax Rate
0.78%
Average Fayette County Tax Rate
0.87%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mill Run, Fayette County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15464 | 0.40% | 0.78% | 0.78% | 0.78% | 0.78% |
Source: Ownwell
Property Tax Assessment Values Across Mill Run, Fayette County, Pennsylvania
In Mill Run, 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 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 Mill Run, 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. For example, the median home price in Mill Run is $65,360, with tax bills ranging from $215 at the 25th percentile to $1,051 at the 90th percentile. The zip code 15464 has both the highest and lowest median tax bills, each at $460. 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 Mill Run helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Mill Run, Fayette County, Pennsylvania
Source: Ownwell
$15,915
$59,673
$103,430
Average Mill Run Assessed Value
$65,360
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 Mill Run, Fayette County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15464 | $16,570 | $38,265 | $65,360 | $100,510 | $148,610 |
Source: Ownwell
Property Tax Bills Across Mill Run, Fayette County, Pennsylvania
In Mill Run, Fayette County, PA, property tax bills are calculated based on the assessed value of a home. This assessed value is determined by the county assessor's office and reflects the market value of the property. Homeowners in Mill Run experience property tax bills that vary significantly, with the 25th percentile tax bill at $215 and the 75th percentile reaching $733. The 90th percentile tax bill can go up to $1,051, indicating a range of tax burdens depending on property values and other factors. The median home price in Mill Run is $65,360, which influences the overall tax bill. Compared to the national median property tax rate of 0.99%, Mill Run’s property tax rates provide a different perspective on homeowner expenses. The highest and lowest median tax bills in the area are both reported at $460, showing some consistency in tax rates within certain zip codes. These property taxes impact homeowners by contributing to local services such as schools, infrastructure, and public safety.
Average Mill Run Tax Bill
$460
Average Fayette County Tax Bill
$548
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Mill Run, Fayette County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15464 | $80 | $215 | $460 | $733 | $1,051 |
Source: Ownwell