Hyndman, Somerset County, Pennsylvania Property Taxes
The median property tax rate in Hyndman, PA is 1.90%, considerably higher than the national median of 0.99% but lower than the Pennsylvania state median of 2.81%. With the median home value in Hyndman at $41,800, the typical annual property tax bill reaches $795, which is below the national median of $2,690. Property taxes in Hyndman are calculated based on the assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Hyndman'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 Hyndman or another part of Somerset County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hyndman, Somerset County, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.9%
Estimate Property Tax Bill
$794
$737
Ownwell’s HYNDMAN Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in HYNDMAN with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in HYNDMAN 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 Hyndman, Somerset County, Pennsylvania
Property taxes in Hyndman, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hyndman is 1.90%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Hyndman set these rates annually, and they can vary across different neighborhoods. Each year, Hyndman 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 Hyndman's effective property tax rate to other areas within Somerset County and the national median. For comparison, the zip code 15545 has the highest median property tax rate of 1.90%, while the same zip code also has the lowest median tax rate of 1.90%. Understanding how these areas compare with Hyndman 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 Hyndman Tax Rate
1.90%
Average Somerset County Tax Rate
2.69%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hyndman, Somerset County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15545 | 1.90% | 1.90% | 1.90% | 1.90% | 1.92% |
Source: Ownwell
Property Tax Assessment Values Across Hyndman, Somerset County, Pennsylvania
In Hyndman, 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 Hyndman, 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 Hyndman helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 15545 has both the highest and lowest median tax bills, recorded at $795.
Property Tax Assessment Values Across Hyndman, Somerset County, Pennsylvania
Source: Ownwell
$27,215
$78,308
$129,400
Average Hyndman Assessed Value
$41,800
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 Hyndman, Somerset County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15545 | $13,530 | $26,765 | $41,800 | $64,650 | $96,252 |
Source: Ownwell
Property Tax Bills Across Hyndman, Somerset County, Pennsylvania
In Hyndman, PA, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For instance, the median home price in Hyndman is $41,800. Property tax bills in the area can vary significantly, with the 25th percentile at $509 and the 75th percentile reaching $1,231. At the 90th percentile, homeowners might pay up to $1,831 annually. Several factors influence the property tax bill, including the home's assessed value, the local tax rate, and any applicable exemptions. These taxes fund essential public services such as schools, roads, and emergency services. Compared to the national median property tax rate of 0.99%, Hyndman's property tax rates can present a significant financial consideration for homeowners. Understanding these factors can help residents better anticipate their annual tax obligations and manage their finances accordingly.
Average Hyndman Tax Bill
$795
Average Somerset County Tax Bill
$1,299
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Hyndman, Somerset County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15545 | $257 | $509 | $795 | $1,231 | $1,831 |
Source: Ownwell