Homer City, Pennsylvania Property Taxes
The median property tax rate in Homer City, PA is 2.32%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Homer City at $94,200, the typical annual property tax bill reaches $2,146, which is below the national median of $2,690. Property taxes in Homer City 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 Homer City'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 Homer City 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
Homer City, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.32%
Estimate Property Tax Bill
$2,185
Ownwell’s Homer City Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Homer City with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Homer City to provide an estimate of your property tax bill. This insightful tool aids in understanding potential tax liabilities, making it easier for you to plan your finances effectively. For those interested in more localized data, additional neighborhood-level information is available below. Your property’s assessed value, determined by the county, serves as the basis for property tax calculations, considering any applicable exemptions.
Property Tax Rates Across Homer City, Pennsylvania
Property taxes in Homer City, Pennsylvania, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Homer City stands at 2.32%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Homer City set these rates annually, and they can vary across different neighborhoods. Each year, Homer City 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 Homer City's effective property tax rate to other areas in Pennsylvania and the national median. For comparison, the zip code 15748 has the highest median property tax rate of 2.32%, while the lowest median tax rate is also found in the same zip code at 2.32%. Understanding how these areas compare with Homer City provides valuable insights into the varying tax landscape across Indiana County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Homer City Tax Rate
2.32%
Average Indiana County Tax Rate
2.03%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Homer City, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15748 | 1.64% | 1.66% | 2.32% | 2.63% | 2.63% |
Source: Ownwell
Property Tax Assessment Values Across Homer City, Pennsylvania
In Homer City, 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 Indiana 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 Homer City, 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 Homer City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 15748, with a value of $2146, while the lowest is also 15748, with a value of $2146.
Average Homer City Assessed Value
$94,200
Average Indiana County Assessed Value
$98,600
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Homer City, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15748 | $32,520 | $61,450 | $94,200 | $133,700 | $190,900 |
Source: Ownwell
Property Tax Bills Across Homer City, Pennsylvania
In Homer City, located in Indiana County, PA, property tax bills are calculated based on the assessed value of a property. This assessed value is determined by local government assessors and is a percentage of the property's market value. The property tax rate, which is applied to this assessed value, ultimately determines the tax bill. For homeowners in Homer City, the median home price is $94,200, and property tax bills can vary significantly. For example, the 25th percentile tax bill is $1,416, while the 75th percentile tax bill reaches $2,948. At the 90th percentile, homeowners might see tax bills as high as $4,013. Comparatively, the national median property tax rate is 0.99%, indicating that property tax rates in Homer City can be quite variable. These tax bills are essential for funding local services, but they also represent a significant expense for homeowners, influencing their overall cost of living and financial planning.
Average Homer City Tax Bill
$2,146
Average Indiana County Tax Bill
$2,051
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Homer City, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15748 | $813 | $1,416 | $2,146 | $2,948 | $4,013 |
Source: Ownwell