Somerset, Pennsylvania Property Taxes
The median property tax rate in Somerset, PA is 11.73%, significantly higher than both the national median of 0.99% and Pennsylvania's state median of 2.81%. With the median home value in Somerset, the typical annual property tax bill reaches $3,782, far exceeding the national median of $2,690. Property taxes in Somerset are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Somerset'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 Somerset 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
Somerset, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
11.73%
Estimate Property Tax Bill
$3,782
-$39,633
Ownwell’s Somerset Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Somerset with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Somerset to provide an estimated property tax bill. This valuable tool helps you gauge potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is the value determined by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Somerset, Pennsylvania
Property taxes in Somerset, PA, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Somerset is 11.73%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Somerset set these rates annually, and they can vary significantly across different neighborhoods. Each year, Somerset 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 Somerset's effective property tax rate to other areas in Pennsylvania and the national median. For comparison, the zip code 15501 has both the highest and lowest median property tax rate of 11.73%, which is the same as Somerset's rate. Understanding how these cities compare with Somerset 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 Somerset Tax Rate
11.73%
Average Westmoreland County Tax Rate
12.81%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Somerset, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15501 | 11.73% | 11.73% | 11.73% | 11.73% | 11.73% |
Source: Ownwell
Property Tax Assessment Values Across Somerset, Pennsylvania
In Somerset, 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 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 Somerset, 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 Somerset helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Somerset is $3,782 in zip code 15501, while the lowest is also $3,782 in the same zip code.
Average Somerset Assessed Value
$32,240
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 Somerset, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15501 | $7,806 | $16,898 | $32,240 | $47,188 | $62,428 |
Source: Ownwell
Property Tax Bills Across Somerset, Pennsylvania
In Somerset, PA, property tax bills are calculated based on the assessed value of a property, which is determined by local tax assessors. 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 $32,240, homeowners can expect their tax bills to vary significantly. The 25th percentile tax bill is $1,982, while the 75th percentile tax bill is $5,536, and the 90th percentile tax bill reaches $7,323. Several factors influence these tax bills, including property size, location, and improvements made to the property. Comparatively, Somerset's tax rates are higher than the national median property tax rate of 0.99%. This can place a substantial financial burden on homeowners, especially those with higher-valued properties. For instance, the highest median tax bill in the area is $3,782 in the 15501 zip code. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Somerset Tax Bill
$3,782
Average Westmoreland County Tax Bill
$2,150
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Somerset, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15501 | $916 | $1,982 | $3,782 | $5,536 | $7,323 |
Source: Ownwell