Hooversville, Pennsylvania Property Taxes
The median property tax rate in Hooversville, PA is 2.69%, which is significantly higher than the national median of 0.99% but slightly below the Pennsylvania state median of 2.81%. With a median home value of $36,550 in Hooversville, the typical annual property tax bill amounts to $983, still below the national median of $2,690. Property taxes in Hooversville are determined based on the assessed value, usually lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Hooversville'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 Hooversville or another part of Somerset County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hooversville, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.69%
Estimate Property Tax Bill
$983
Ownwell’s Hooversville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hooversville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hooversville 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 Hooversville, Pennsylvania
Property taxes in Hooversville, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hooversville is 2.69%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Hooversville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hooversville 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 Hooversville's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 15936 zip code has the highest median property tax rate of 2.69%, while the same zip code also has the lowest median tax rate of 2.69%. Understanding how these cities compare with Hooversville 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 Hooversville Tax Rate
2.69%
Average Somerset County Tax Rate
2.69%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hooversville, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15936 | 2.57% | 2.69% | 2.69% | 2.79% | 2.97% |
Source: Ownwell
Property Tax Assessment Values Across Hooversville, Pennsylvania
In Hooversville, 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 Hooversville, 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 Hooversville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill in Hooversville is 15936, with a median tax bill of $983.
Property Tax Assessment Values Across Hooversville, Pennsylvania
Source: Ownwell
$24,110
$76,755
$129,400
Average Hooversville Assessed Value
$36,550
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 Hooversville, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15936 | $18,055 | $29,150 | $36,550 | $55,418 | $85,847 |
Source: Ownwell
Property Tax Bills Across Hooversville, Pennsylvania
In Hooversville, property tax bills are calculated based on the property's assessed value, which is determined by the local tax assessor. The assessed value is a percentage of the property's market value, which is influenced by factors such as location, property size, and recent sales of comparable homes. Homeowners in Hooversville typically see tax bills ranging from $790 at the 25th percentile to $2,326 at the 90th percentile, with a median home price of $36,550. The median property tax bill stands at $983, reflecting the local tax rate applied to the assessed value. This tax bill directly impacts homeowners by contributing to local budgets for essential services such as schools, infrastructure, and emergency services. Compared to the national median property tax rate of 0.99%, Hooversville's rate can be seen as relatively moderate, providing a balance between necessary public funding and homeowner affordability. Understanding how these taxes are calculated helps homeowners anticipate their annual expenses and plan accordingly.
Average Hooversville Tax Bill
$983
Average Somerset County Tax Bill
$1,299
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Hooversville, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15936 | $474 | $790 | $983 | $1,534 | $2,326 |
Source: Ownwell