Madison, Pennsylvania Property Taxes
The median property tax rate in Madison, PA is 12.58%, significantly higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Madison, the typical annual property tax bill reaches $1,638, surpassing the national median of $2,690. Property taxes in Madison 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 Madison'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 Madison 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
Madison, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
12.58%
Estimate Property Tax Bill
$1,645
-$17,238
Ownwell’s Madison Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Madison with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Madison 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 Madison, Pennsylvania
Property taxes in Madison, Pennsylvania, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Madison is 12.58%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Madison set these rates annually, and they can vary significantly across different neighborhoods. Each year, Madison 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 Madison's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 15663 zip code has the highest median property tax rate of 12.58%, while the 15663 zip code also has the lowest median tax rate of 12.58%. Understanding how these cities compare with Madison provides valuable insights into the varying tax landscape across Westmoreland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Madison Tax Rate
12.58%
Average Westmoreland County Tax Rate
12.81%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Madison, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15663 | 12.58% | 12.58% | 12.58% | 12.58% | 12.58% |
Source: Ownwell
Property Tax Assessment Values Across Madison, Pennsylvania
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Madison, PA. 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 local 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 Madison, 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 example, the highest median tax bill in Madison is $1,638 in zip code 15663, while the lowest median tax bill is also $1,638 in the same zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Madison Assessed Value
$13,075
Average Westmoreland County Assessed Value
$16,850
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Madison, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15663 | $5,947 | $9,868 | $13,075 | $20,818 | $28,243 |
Source: Ownwell
Property Tax Bills Across Madison, Pennsylvania
In Madison, Westmoreland County, PA, property tax bills are calculated based on the assessed value of your home and the local tax rate. The assessed value is determined by the county assessor and is meant to reflect a percentage of your property's market value. Madison’s property tax rate is influenced by the county, school district, and any other local taxing authorities. For homeowners, this means their property tax bill can vary significantly depending on the assessed value of their home. For example, homes at the 25th percentile of tax bills in Madison face an annual tax of $1,242, while those at the 75th percentile pay around $2,607. At the 90th percentile, the tax bill rises to $3,390. The highest median tax bill in the area stands at $1,638. These tax rates and assessed values directly impact homeowners, determining how much they owe annually. Understanding these factors can help homeowners anticipate their tax obligations and plan accordingly.
Average Madison Tax Bill
$1,638
Average Westmoreland County Tax Bill
$2,150
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Madison, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15663 | $748 | $1,242 | $1,638 | $2,607 | $3,390 |
Source: Ownwell