Hidden Valley, Somerset County, Pennsylvania Property Taxes
The median property tax rate in Hidden Valley, PA is 3.23%, significantly higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Hidden Valley, the typical annual property tax bill reaches $3,670, exceeding the national median of $2,690. Property taxes in Hidden Valley 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 Hidden Valley'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 Hidden Valley 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
Hidden Valley, Somerset County, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.23%
Estimate Property Tax Bill
$3,668
$3,403
Ownwell’s HIDDEN VALLEY Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in HIDDEN VALLEY with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in HIDDEN VALLEY 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 Hidden Valley, Somerset County, Pennsylvania
Property taxes in Hidden Valley, Pennsylvania, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hidden Valley is 3.23%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Hidden Valley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hidden Valley 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 Hidden Valley's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 15502 zip code has the highest median property tax rate of 3.23%, while the lowest median tax rate is also found in the 15502 zip code, standing at 3.23%. Understanding how these cities compare with Hidden Valley 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.
Property Tax Rates Across Hidden Valley, Somerset County, Pennsylvania
Source: Ownwell
1.85%
2.54%
3.23%
Average Hidden Valley Tax Rate
3.23%
Average Somerset County Tax Rate
2.69%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hidden Valley, Somerset County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15502 | 3.23% | 3.23% | 3.23% | 3.23% | 3.23% |
Source: Ownwell
Property Tax Assessment Values Across Hidden Valley, Somerset County, Pennsylvania
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Hidden Valley, PA. 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 Appraisal District 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 Hidden Valley, 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. The median home price in Hidden Valley is $113,550, with tax bills ranging from $2,783 at the 25th percentile to $7,768 at the 90th percentile. The zip code 15502 has both the highest and lowest median tax bills at $3,670. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Hidden Valley, Somerset County, Pennsylvania
Source: Ownwell
$27,215
$78,308
$129,400
Average Hidden Valley Assessed Value
$113,550
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 Hidden Valley, Somerset County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15502 | $58,223 | $86,100 | $113,550 | $162,362 | $240,342 |
Source: Ownwell
Property Tax Bills Across Hidden Valley, Somerset County, Pennsylvania
In Hidden Valley, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the property tax rate set by the county. For homeowners in Hidden Valley, the median home price is approximately $113,550. The tax bill can vary significantly, with the 25th percentile at $2,783 and the 75th percentile at $5,248. At the higher end, the 90th percentile tax bill reaches $7,768. Several factors influence the tax bill, including the property's location within Somerset County and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, the rates in Hidden Valley can result in higher tax bills, particularly for more valuable properties. Homeowners must budget accordingly, as property taxes are a substantial component of homeownership costs. Understanding these factors can help homeowners anticipate their annual tax obligations and plan their finances more effectively.
Property Tax Bills Across Hidden Valley, Somerset County, Pennsylvania
Source: Ownwell
$610
$2,140
$3,670
Average Hidden Valley Tax Bill
$3,670
Average Somerset County Tax Bill
$1,299
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Hidden Valley, Somerset County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15502 | $1,882 | $2,783 | $3,670 | $5,248 | $7,768 |
Source: Ownwell