Midway, Pennsylvania Property Taxes
The median property tax rate in Midway, PA is 2.17%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Midway, the typical annual property tax bill reaches $1,922, exceeding the national median of $2,690. Property taxes in Midway 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 Midway'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 Midway or another part of Washington County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Midway, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.17%
Estimate Property Tax Bill
$1,958
Ownwell’s Midway Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Midway with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Midway 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 Midway, Pennsylvania
Property taxes in Midway, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Midway is 2.17%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Midway set these rates annually, and they can vary significantly across different neighborhoods. Each year, Midway 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 Midway's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the zip code 15060 has the highest median property tax rate of 2.17%, while the same zip code also has the lowest median tax rate of 2.17%. Understanding how these cities compare with Midway 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 Midway Tax Rate
2.17%
Average Washington County Tax Rate
1.79%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Midway, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15060 | 2.17% | 2.17% | 2.17% | 2.17% | 2.17% |
Source: Ownwell
Property Tax Assessment Values Across Midway, Pennsylvania
In Midway, 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 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 Midway, 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. The median home price in Midway is $90,250, with tax bills ranging from $1,561 at the 25th percentile to $3,250 at the 90th percentile. 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 Midway helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Midway Assessed Value
$90,250
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 Midway, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15060 | $53,930 | $72,650 | $90,250 | $117,700 | $151,970 |
Source: Ownwell
Property Tax Bills Across Midway, Pennsylvania
In Midway, Washington County, PA, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the county's assessment office 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 property tax bill. For homeowners in Midway, the median home price is $90,250. Property tax bills vary significantly, with the 25th percentile at $1,561 and the 75th percentile reaching $2,523. The 90th percentile tax bill can go as high as $3,250. These figures suggest a wide range of tax liabilities depending on the property's assessed value and the specific tax rate applied. Compared to the national median property tax rate of 0.99%, homeowners in Midway experience varying tax burdens that can impact their overall financial planning and homeownership costs. Understanding these factors is crucial for homeowners to anticipate their annual expenses and manage their budgets effectively.
Average Midway Tax Bill
$1,922
Average Washington County Tax Bill
$2,319
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Midway, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15060 | $1,168 | $1,561 | $1,922 | $2,523 | $3,250 |
Source: Ownwell