Central City, Pennsylvania Property Taxes
The median property tax rate in Central City, PA is 3.15%, significantly higher than both the national median of 0.99% and Pennsylvania's state median of 2.81%. With a median home value of $46,460 in Central City, the typical annual property tax bill reaches $1,380, which, while below the national median of $2,690, is still a notable expense. Property taxes in Central City are calculated based on the tax assessed value, which often falls below market value due to exemptions like those for primary residences and agricultural properties. Understanding Central 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 Central City or another part of the county, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Central City, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.15%
Estimate Property Tax Bill
$1,463
Ownwell’s Central City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Central City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Central City 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 Central City, Pennsylvania
Property taxes in Central City, Pennsylvania, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Central City is 3.15%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Central City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Central 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. Understanding how these cities compare with Central City provides valuable insights into the varying tax landscape across Somerset County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Central City Tax Rate
3.15%
Average Somerset County Tax Rate
2.69%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Central City, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15926 | 2.67% | 3.00% | 3.15% | 3.23% | 3.24% |
Source: Ownwell
Property Tax Assessment Values Across Central City, Pennsylvania
In Central 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 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 Central 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 Central City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 15926 has the highest median tax bill of $1,380, while the lowest median tax bill is also found in the same zip code.
Property Tax Assessment Values Across Central City, Pennsylvania
Source: Ownwell
$24,110
$76,755
$129,400
Average Central City Assessed Value
$46,460
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 Central City, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15926 | $18,001 | $28,825 | $46,460 | $99,348 | $171,267 |
Source: Ownwell
Property Tax Bills Across Central City, Pennsylvania
Property tax bills in Central City, Somerset County, PA, are calculated based on the assessed value of a property. The local tax authorities determine this assessed value, which is then multiplied by the local tax rate to calculate the annual tax bill. For instance, with a median home price of $46,460, the property tax rate in Central City is notably higher than the national median of 0.99%. Homeowners can expect tax bills to vary significantly, with the 25th percentile paying around $875 annually, while those in the 75th percentile face bills of about $2,961. The highest reported median tax bill in the area is $1,380. These tax bills impact homeowners by influencing their overall housing costs and potentially affecting their ability to sell or refinance their homes. Understanding how these factors interplay is crucial for homeowners looking to manage their expenses and make informed decisions about their property investments.
Average Central City Tax Bill
$1,380
Average Somerset County Tax Bill
$1,299
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Central City, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15926 | $539 | $875 | $1,380 | $2,961 | $5,533 |
Source: Ownwell