Hickory, Pennsylvania Property Taxes
The median property tax rate in Hickory, PA is 1.90%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Hickory, the typical annual property tax bill reaches $2,962, exceeding the national median of $2,690. Property taxes in Hickory 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 Hickory'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 Hickory 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
Hickory, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.9%
Estimate Property Tax Bill
$2,970
Ownwell’s Hickory Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hickory with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hickory 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 Hickory, Pennsylvania
Property taxes in Hickory, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hickory is 1.90%, significantly higher than the U.S. national median of 0.99%. Local government entities within Hickory set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hickory 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 Hickory's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the zip code 15340 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 cities compare with Hickory provides valuable insights into the varying tax landscape across Washington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hickory Tax Rate
1.90%
Average Washington County Tax Rate
1.79%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hickory, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15340 | 1.90% | 1.90% | 1.90% | 1.90% | 1.90% |
Source: Ownwell
Property Tax Assessment Values Across Hickory, Pennsylvania
In Hickory, 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 Washington County Appraisal District 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 Hickory, 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 Hickory helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 15340, with a median tax bill of $2,962.
Average Hickory Assessed Value
$156,300
Average Washington County Assessed Value
$129,900
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hickory, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15340 | $89,580 | $114,700 | $156,300 | $208,900 | $279,140 |
Source: Ownwell
Property Tax Bills Across Hickory, Pennsylvania
In Hickory, Washington County, PA, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county and is a percentage of the property's market value. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For example, with a median home price of $156,300, homeowners in Hickory can expect to pay a range of property taxes depending on various factors. Homeowners in the 25th percentile typically see tax bills around $2,145, while those in the 75th percentile face bills closer to $3,939. At the 90th percentile, tax bills can reach up to $5,292. These figures illustrate the variability in tax burdens, influenced by the assessed value and specific local tax rates. Understanding how property taxes are calculated helps homeowners anticipate their financial obligations and plan accordingly. Compared to the national median property tax rate of 0.99%, Hickory's property tax rates reflect the local economic conditions and public service funding needs.
Average Hickory Tax Bill
$2,962
Average Washington County Tax Bill
$2,319
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Hickory, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15340 | $1,689 | $2,145 | $2,962 | $3,939 | $5,292 |
Source: Ownwell