Tire Hill, Pennsylvania Property Taxes
The median property tax rate in Tire Hill, PA is 2.47%, significantly higher than the national median of 0.99% but slightly below the Pennsylvania state median of 2.81%. With the median home value in Tire Hill at $30,550, the typical annual property tax bill amounts to $754, which is lower than the national median of $2,690. Property taxes in Tire Hill are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Tire Hill's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Tire Hill 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
Tire Hill, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.47%
Estimate Property Tax Bill
$755
Ownwell’s TIRE HILL Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in TIRE HILL with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in TIRE HILL 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 Tire Hill, Pennsylvania
Property taxes in Tire Hill, Pennsylvania, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Tire Hill is 2.47%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Tire Hill set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tire Hill 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 Tire Hill's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 15959 zip code has the highest median property tax rate of 2.47%, while the 15959 zip code also has the lowest median tax rate of 2.47%. Understanding how these cities compare with Tire Hill 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 Tire Hill Tax Rate
2.47%
Average Somerset County Tax Rate
2.69%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tire Hill, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15959 | 2.47% | 2.47% | 2.47% | 2.47% | 2.47% |
Source: Ownwell
Property Tax Assessment Values Across Tire Hill, Pennsylvania
In Tire Hill, 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 Tire Hill, 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 Tire Hill helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $754.00 in zip code 15959, which also has the lowest median tax bill of $754.00.
Average Tire Hill Assessed Value
$30,550
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 Tire Hill, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15959 | $17,330 | $19,725 | $30,550 | $45,415 | $65,331 |
Source: Ownwell
Property Tax Bills Across Tire Hill, Pennsylvania
In Tire Hill, Somerset County, PA, property tax bills are calculated based on the assessed value of your home. The assessed value is determined by local assessors who evaluate your property's market value and apply an assessment ratio. This assessed value is then multiplied by the local tax rate to calculate your property tax bill. For instance, with a median home price of $30,550, homeowners in Tire Hill can expect a range of property tax bills. The tax bill for the 25th percentile is approximately $486, while the 75th percentile sees bills around $1,120. At the higher end, the 90th percentile tax bill reaches about $1,611. The highest median tax bill recorded in the area is $754, and interestingly, this is also the lowest median tax bill, reflecting a consistent tax rate across the zip code 15959. These property tax bills can significantly impact homeowners by influencing their annual housing costs. Understanding how these taxes are calculated can help homeowners better manage their finances and plan for future expenses.
Average Tire Hill Tax Bill
$754
Average Somerset County Tax Bill
$1,299
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Tire Hill, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15959 | $427 | $486 | $754 | $1,120 | $1,611 |
Source: Ownwell