Youngwood, Pennsylvania Property Taxes
The median property tax rate in Youngwood, PA is 12.20%, significantly higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With a median home value of $11,915, the typical annual property tax bill in Youngwood reaches $1,445, surpassing the national median of $2,690. Property taxes in Youngwood are determined based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Gaining a thorough understanding of Youngwood'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 Youngwood or another part of the city, understanding the local property tax system is beneficial for both homeowners and real estate investors.
Last Updated June 14, 2024
Youngwood, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
12.2%
Estimate Property Tax Bill
$1,454
-$15,234
Ownwell’s Youngwood Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Youngwood with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Youngwood 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 Youngwood, Pennsylvania
Property taxes in Youngwood, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Youngwood is 12.20%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Youngwood set these rates annually, and they can vary significantly across different neighborhoods. Each year, Youngwood 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 Youngwood's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 15697 zip code has both the highest and lowest median property tax rate of 12.20%. Understanding how these cities compare with Youngwood 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 Youngwood Tax Rate
12.20%
Average Westmoreland County Tax Rate
12.81%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Youngwood, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15697 | 12.19% | 12.19% | 12.20% | 12.20% | 12.20% |
Source: Ownwell
Property Tax Assessment Values Across Youngwood, Pennsylvania
In Youngwood, 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 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 Youngwood, 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 Youngwood helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 15697 has the highest and lowest median tax bill of $1,445, compared to the national median property tax rate of 0.99%.
Average Youngwood Assessed Value
$11,915
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 Youngwood, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15697 | $6,465 | $9,212 | $11,915 | $16,712 | $22,965 |
Source: Ownwell
Property Tax Bills Across Youngwood, Pennsylvania
In Youngwood, Westmoreland County, PA, property tax bills are calculated based on the assessed value of a property, which is determined by the county's assessment office. This assessed value typically reflects a percentage of the property's market value. Homeowners in Youngwood can expect their tax bills to vary significantly depending on the assessed value of their homes. For instance, the tax bill at the 25th percentile is $1,121, while at the 75th percentile, it rises to $2,036, and at the 90th percentile, it reaches $2,802. The median home price in Youngwood is $11,915, and the median property tax bill is $1,445. Compared to the national median property tax rate of 0.99%, Youngwood's property tax rates can result in a substantial financial impact on homeowners. Understanding how these factors influence tax bills can help residents plan their finances more effectively and explore potential exemptions or appeals to reduce their tax burden.
Average Youngwood Tax Bill
$1,445
Average Westmoreland County Tax Bill
$2,150
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Youngwood, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15697 | $797 | $1,121 | $1,445 | $2,036 | $2,802 |
Source: Ownwell