Rockwood, Pennsylvania Property Taxes
The median property tax rate in Rockwood, PA is 1.89%, 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 Rockwood at $45,135, the typical annual property tax bill reaches $882, which is below the national median of $2,690. Property taxes in Rockwood 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 Rockwood'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 Rockwood 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
Rockwood, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.89%
Estimate Property Tax Bill
$853
Ownwell’s Rockwood Property Tax Bill Calculator is an indispensable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Rockwood. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Rockwood to provide a precise estimate of your property tax bill. This valuable resource helps you anticipate potential tax liabilities, ensuring you are well-prepared. For those interested in more granular insights, additional neighborhood-level information is available below. Your property’s assessed value, determined by Somerset County, forms the basis for these calculations, taking into account any applicable exemptions.
Property Tax Rates Across Rockwood, Pennsylvania
Property taxes in Rockwood, Pennsylvania, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Rockwood is 1.89%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Rockwood set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rockwood 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 Rockwood's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the zip code 15557 has the highest median property tax rate of 1.89%, while the same zip code also has the lowest median tax rate of 1.89%. Understanding how these cities compare with Rockwood 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 Rockwood Tax Rate
1.89%
Average Somerset County Tax Rate
2.69%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rockwood, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15557 | 1.85% | 1.85% | 1.89% | 1.90% | 2.20% |
Source: Ownwell
Property Tax Assessment Values Across Rockwood, Pennsylvania
In Rockwood, 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 Rockwood, 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. Notably, Rockwood's highest and lowest median tax bills are both $882, found in the 15557 zip code. Being aware of these valuation processes in Rockwood helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Rockwood Assessed Value
$45,135
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 Rockwood, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15557 | $15,080 | $28,488 | $45,135 | $68,878 | $102,720 |
Source: Ownwell
Property Tax Bills Across Rockwood, Pennsylvania
In Rockwood, property tax bills are calculated based on the assessed value of a property, which is determined by the local tax assessor. This assessed value takes into account factors such as the property's market value, location, and any improvements made. The tax rate, set by local government authorities, is then applied to the assessed value to determine the final tax bill. Homeowners in Rockwood experience a range of property tax bills. For example, the tax bill at the 25th percentile is $559, while those at the 75th percentile pay around $1,317, and the 90th percentile sees bills as high as $1,916. The median home price in Rockwood is $45,135, which can influence the overall tax burden for property owners. Comparatively, the national median property tax rate is 0.99%, and Rockwood's property tax rates can significantly impact homeowners' finances. Understanding these factors helps homeowners anticipate their tax liabilities and plan accordingly.
Average Rockwood Tax Bill
$882
Average Somerset County Tax Bill
$1,299
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Rockwood, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15557 | $287 | $559 | $882 | $1,317 | $1,916 |
Source: Ownwell