Waltersburg, Pennsylvania Property Taxes
The median property tax rate in Waltersburg, PA is 0.87%, which is lower than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With a median home value of $44,770 in Waltersburg, the typical annual property tax bill is around $399, significantly below the national median of $2,690. Property taxes in Waltersburg are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Waltersburg's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Waltersburg 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
Waltersburg, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.87%
Estimate Property Tax Bill
$389
Ownwell’s Waltersburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Waltersburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Waltersburg 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 Waltersburg, Pennsylvania
Property taxes in Waltersburg, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Waltersburg is 0.87%, which is lower than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Waltersburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Waltersburg 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 Waltersburg's effective property tax rate to other areas in Pennsylvania and the national median. For comparison, the zip code 15488 has the highest median property tax rate of 0.87%, while the same zip code also has the lowest median tax rate of 0.87%. Understanding how these figures compare with Waltersburg 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 Waltersburg 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 Waltersburg, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15488 | 0.76% | 0.78% | 0.87% | 1.06% | 1.39% |
Source: Ownwell
Property Tax Assessment Values Across Waltersburg, Pennsylvania
In Waltersburg, 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. 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 Waltersburg 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 $399, found in the 15488 zip code.
Property Tax Assessment Values Across Waltersburg, Pennsylvania
Source: Ownwell
$15,915
$211,818
$407,720
Average Waltersburg Assessed Value
$44,770
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 Waltersburg, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15488 | $14,043 | $23,652 | $44,770 | $61,620 | $84,412 |
Source: Ownwell
Property Tax Bills Across Waltersburg, Pennsylvania
In Waltersburg, located in Fayette County, PA, property tax bills are calculated based on the assessed value of a home. The local tax authority determines this assessed value, which is then multiplied by the local tax rate to calculate the annual tax bill. For example, with a median home price of $44,770, the tax bill can vary significantly. Homeowners in the 25th percentile pay approximately $266, while those in the 75th percentile face a tax bill around $513. At the 90th percentile, the tax bill can reach up to $741. The local tax rate in Waltersburg plays a crucial role in determining these amounts. Compared to the national median property tax rate of 0.99%, Waltersburg's rate reflects the unique economic and property value conditions of the area. Homeowners need to consider these factors as they directly impact their annual financial obligations. Understanding how these elements interact can help residents better manage their property tax responsibilities.
Average Waltersburg Tax Bill
$399
Average Fayette County Tax Bill
$548
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Waltersburg, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15488 | $123 | $266 | $399 | $513 | $741 |
Source: Ownwell