Friedens, Somerset County, Pennsylvania Property Taxes
The median property tax rate in Friedens, PA is 3.00%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Friedens, the typical annual property tax bill reaches $1,642, exceeding the national median of $2,690. Property taxes in Friedens 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 Friedens'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 Friedens 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
Friedens, Somerset County, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3%
Estimate Property Tax Bill
$1,718
$1,594
Ownwell’s Friedens Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Friedens with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Friedens 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 Friedens, Somerset County, Pennsylvania
Property taxes in Friedens, Pennsylvania, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Friedens is 3.00%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Friedens set these rates annually, and they can vary significantly across different neighborhoods. Each year, Friedens 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 Friedens' effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 15541 zip code has both the highest and lowest median property tax rate of 3.00%. Understanding how these cities compare with Friedens 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 Friedens Tax Rate
3.00%
Average Somerset County Tax Rate
2.69%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Friedens, Somerset County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15541 | 2.67% | 2.67% | 3.00% | 3.00% | 3.00% |
Source: Ownwell
Property Tax Assessment Values Across Friedens, Somerset County, Pennsylvania
In Friedens, 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 Friedens, 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 Friedens helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bill in Friedens is $1,642 in zip code 15541.
Property Tax Assessment Values Across Friedens, Somerset County, Pennsylvania
Source: Ownwell
$27,215
$78,308
$129,400
Average Friedens Assessed Value
$57,270
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 Friedens, Somerset County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15541 | $23,300 | $38,350 | $57,270 | $88,850 | $119,580 |
Source: Ownwell
Property Tax Bills Across Friedens, Somerset County, Pennsylvania
In Friedens, Somerset County, PA, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The tax rate is applied to this assessed value to calculate the annual tax bill. For example, with a median home price of $57,270, homeowners can expect varying tax bills depending on their property's assessed value and applicable tax rates. Factors such as property size, location, and improvements can influence the assessed value. Homeowners in Friedens can see tax bills ranging from $1,117 at the 25th percentile to $2,571 at the 75th percentile, with some reaching as high as $3,488 at the 90th percentile. Compared to the national median property tax rate of 0.99%, these figures highlight the variability within the region. The highest and lowest median tax bill in the area both stand at $1,642, indicating a relatively consistent tax burden within certain parts of the city. Understanding these factors helps homeowners anticipate and manage their annual property tax obligations effectively.
Average Friedens Tax Bill
$1,642
Average Somerset County Tax Bill
$1,299
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Friedens, Somerset County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15541 | $665 | $1,117 | $1,642 | $2,571 | $3,488 |
Source: Ownwell