Smock, Fayette County, Pennsylvania Property Taxes
The median property tax rate in Smock, PA is 0.87%, which is lower than both the national median of 0.99% and Pennsylvania's state median of 2.81%. With a median home value of $54,020 in Smock, the typical annual property tax bill amounts to $475, significantly below the national median of $2,690. Property taxes in Smock are determined based on the tax assessed value, which is often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Smock'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 Smock or another part of Fayette County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Smock, Fayette County, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.87%
Estimate Property Tax Bill
$470
$436
Ownwell’s Smock Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Smock with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Smock to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is the value assigned by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Smock, Fayette County, Pennsylvania
Property taxes in Smock, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Smock is 0.87%, which is lower than the U.S. national median of 0.99%. Local government entities within Smock set these rates annually, and they can vary significantly across different neighborhoods. Each year, Smock 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 Smock's effective property tax rate to other areas in Fayette County and the national median. For comparison, the 15480 zip code within Fayette County has the same median property tax rate of 0.87%. Understanding how these areas compare with Smock 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 Smock Tax Rate
0.87%
Average Fayette County Tax Rate
0.87%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Smock, Fayette County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15480 | 0.76% | 0.78% | 0.87% | 1.02% | 1.51% |
Source: Ownwell
Property Tax Assessment Values Across Smock, Fayette County, Pennsylvania
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Smock, PA. 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 Smock, 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. For instance, the highest median tax bill in Smock is $475 in the 15480 zip code, which is also the lowest median tax bill. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Smock, Fayette County, Pennsylvania
Source: Ownwell
$15,915
$59,673
$103,430
Average Smock Assessed Value
$54,020
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 Smock, Fayette County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15480 | $15,424 | $26,550 | $54,020 | $96,495 | $144,494 |
Source: Ownwell
Property Tax Bills Across Smock, Fayette County, Pennsylvania
In Smock, located in Fayette County, PA, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For example, with a median home price of $54,020, homeowners can expect varying tax bills depending on their property's assessed value and the specific rate applied. Homeowners in Smock can see property tax bills ranging from $279 at the 25th percentile to $1,216 at the 90th percentile. The median tax bill in the highest and lowest zip codes both stand at $475, highlighting the relative consistency in property tax rates across the region. Compared to the national median property tax rate of 0.99%, Smock’s rates can significantly impact homeowners, influencing their overall cost of living and financial planning. Understanding these factors is crucial for homeowners to effectively manage their expenses and plan for future financial commitments.
Average Smock Tax Bill
$475
Average Fayette County Tax Bill
$548
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Smock, Fayette County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15480 | $156 | $279 | $475 | $800 | $1,216 |
Source: Ownwell