Shanksville, Somerset County, Pennsylvania Property Taxes
The median property tax rate in Shanksville, PA is 2.76%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Shanksville at $41,450, the typical annual property tax bill reaches $1,144, exceeding the national median of $2,690. Property taxes in Shanksville 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 Shanksville'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 Shanksville 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
Shanksville, Somerset County, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.76%
Estimate Property Tax Bill
$1,144
$1,062
Ownwell’s Shanksville Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Shanksville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Shanksville to estimate your property tax bill. This intuitive tool helps you understand potential tax liabilities, making financial planning easier. For those interested in more granular data, neighborhood-level trends are available by scrolling down. Your property’s assessed value is determined by Somerset County for property tax purposes, considering any applicable exemptions.
Property Tax Rates Across Shanksville, Somerset County, Pennsylvania
Property taxes in Shanksville, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Shanksville is 2.76%, significantly higher than the U.S. national median of 0.99%. Local government entities within Shanksville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Shanksville 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 Shanksville's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the zip code 15560 has the highest median property tax rate of 2.76%, while the same zip code also has the lowest median tax rate of 2.76%. Understanding how these cities compare with Shanksville 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 Shanksville Tax Rate
2.76%
Average Somerset County Tax Rate
2.69%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Shanksville, Somerset County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15560 | 2.76% | 2.76% | 2.76% | 2.76% | 2.76% |
Source: Ownwell
Property Tax Assessment Values Across Shanksville, Somerset County, Pennsylvania
Understanding the distinction between "market value" and "assessed value" is essential for grasping property taxes in Shanksville, PA. The market value represents the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors such as location, property condition, and economic trends. This value is estimated by the Somerset County Assessor 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 Shanksville, 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. For instance, Shanksville's median home price is $41,450, with tax bills ranging from $822 at the 25th percentile to $1,819 at the 90th percentile. The highest and lowest median tax bills are both $1,144 in zip code 15560. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Shanksville, Somerset County, Pennsylvania
Source: Ownwell
$27,215
$78,308
$129,400
Average Shanksville Assessed Value
$41,450
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 Shanksville, Somerset County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15560 | $17,310 | $29,765 | $41,450 | $51,495 | $65,890 |
Source: Ownwell
Property Tax Bills Across Shanksville, Somerset County, Pennsylvania
In Shanksville, located in Somerset County, PA, property tax bills are calculated based on the assessed value of a property. The assessed value is determined by local government assessors and reflects a percentage of the property's market value. Homeowners in Shanksville can expect a median property tax bill of $1,144, which is higher than the national median property tax rate of 0.99%. For a typical home priced at $41,450, tax bills can range significantly. At the 25th percentile, homeowners might pay around $822, while those at the 75th percentile could see bills as high as $1,422. In some cases, taxes can go up to $1,819 at the 90th percentile. These taxes fund essential public services like schools, infrastructure, and emergency services. The variability in tax bills means that homeowners should be aware of how changes in property assessments and local tax rates could impact their financial responsibilities.
Average Shanksville Tax Bill
$1,144
Average Somerset County Tax Bill
$1,299
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Shanksville, Somerset County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15560 | $478 | $822 | $1,144 | $1,422 | $1,819 |
Source: Ownwell