Addison, Somerset County, Pennsylvania Property Taxes
The median property tax rate in Addison, PA is 2.25%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Addison, the typical annual property tax bill reaches $1,067, exceeding the national median of $2,690. Property taxes in Addison 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 Addison'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 Addison 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
Addison, Somerset County, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.25%
Estimate Property Tax Bill
$1,066
$989
Ownwell’s Addison Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Addison with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Addison 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 Addison, Somerset County, Pennsylvania
Property taxes in Addison, Pennsylvania, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Addison is 2.25%, significantly higher than the U.S. national median of 0.99%. Local government entities within Addison set these rates annually, and they can vary significantly across different neighborhoods. Each year, Addison 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 Addison's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 15411 zip code has both the highest and lowest median property tax rate of 2.25%. Understanding how these cities compare with Addison provides valuable insights into the varying tax landscape across Somerset, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Addison Tax Rate
2.25%
Average Somerset County Tax Rate
2.69%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Addison, Somerset County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15411 | 2.25% | 2.25% | 2.25% | 2.25% | 2.25% |
Source: Ownwell
Property Tax Assessment Values Across Addison, Somerset County, Pennsylvania
In Addison, 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 Somerset 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 Addison, 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 Addison helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Addison are both $1,067, found in the 15411 zip code.
Property Tax Assessment Values Across Addison, Somerset County, Pennsylvania
Source: Ownwell
$27,215
$78,308
$129,400
Average Addison Assessed Value
$47,360
Average Somerset County Assessed Value
$50,500
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Addison, Somerset County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15411 | $9,544 | $25,940 | $47,360 | $67,300 | $95,260 |
Source: Ownwell
Property Tax Bills Across Addison, Somerset County, Pennsylvania
In Addison, Somerset County, PA, property tax bills are calculated based on the assessed value of your home. The local tax rate is applied to this assessed value to determine your annual tax bill. Factors influencing your tax bill include the market value of your property, local tax rates, and any exemptions for which you may qualify. For instance, the median home price in Addison is $47,360. Homeowners in the 25th percentile can expect a tax bill around $584, while those in the 75th percentile might see a bill closer to $1,516. At the 90th percentile, tax bills can reach up to $2,146. Compared to the national median property tax rate of 0.99%, Addison's tax rate can vary significantly based on these factors. This variability means that homeowners need to be aware of their property's assessed value and any changes in local tax rates to budget effectively for their annual tax obligations.
Average Addison Tax Bill
$1,067
Average Somerset County Tax Bill
$1,299
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Addison, Somerset County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15411 | $215 | $584 | $1,067 | $1,516 | $2,146 |
Source: Ownwell