Torrance, Pennsylvania Property Taxes
The median property tax rate in Torrance, PA is 11.73%, significantly higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Torrance at $8,370, the typical annual property tax bill amounts to $982, surpassing the national median of $2,690. Property taxes in Torrance 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 Torrance'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 Torrance 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
Torrance, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
11.73%
Estimate Property Tax Bill
$982
-$10,289
Ownwell’s Torrance Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Torrance with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Torrance 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 Torrance, Pennsylvania
Property taxes in Torrance, Pennsylvania, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Torrance is 11.73%, significantly higher than the U.S. national median of 0.99%. Local government entities within Torrance set these rates annually, and they can vary significantly across different neighborhoods. Each year, Torrance 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 Torrance's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 15779 zip code has the highest median property tax rate of 11.73%, while the same zip code also has the lowest median tax rate of 11.73%. Understanding how these cities compare with Torrance provides valuable insights into the varying tax landscape across Westmoreland, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Torrance 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 Torrance, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15779 | 11.73% | 11.73% | 11.73% | 11.73% | 11.73% |
Source: Ownwell
Property Tax Assessment Values Across Torrance, Pennsylvania
In Torrance, 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 Westmoreland 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 Torrance, 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 Torrance 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 $982 in zip code 15779, while the lowest median tax bill is also $982 in the same zip code.
Average Torrance Assessed Value
$8,370
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 Torrance, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15779 | $4,122 | $6,498 | $8,370 | $11,478 | $20,210 |
Source: Ownwell
Property Tax Bills Across Torrance, Pennsylvania
In Torrance, Westmoreland 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's property assessor and reflects a percentage of the home's market value. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For example, in Torrance, homeowners can expect a median tax bill of approximately $982, which is significantly higher than the national median property tax rate of 0.99%. Tax bills can vary widely; the 25th percentile tax bill is around $762, while the 75th percentile reaches $1,346. At the 90th percentile, homeowners might see tax bills as high as $2,370. These variations are influenced by factors such as property location, improvements, and market conditions. Understanding how these factors interplay is crucial for homeowners, as property taxes represent a significant portion of homeownership costs and can impact long-term financial planning.
Average Torrance Tax Bill
$982
Average Westmoreland County Tax Bill
$2,150
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Torrance, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15779 | $483 | $762 | $982 | $1,346 | $2,370 |
Source: Ownwell