Lake Harmony, Pennsylvania Property Taxes
The median property tax rate in Lake Harmony, PA is 3.24%, significantly higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Lake Harmony at $131,782, the typical annual property tax bill reaches $4,265, far exceeding the national median of $2,690. Property taxes in Lake Harmony are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Lake Harmony'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 Lake Harmony or another part of Carbon County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lake Harmony, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.24%
Estimate Property Tax Bill
$4,270
Ownwell’s Lake Harmony Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lake Harmony with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lake Harmony 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 Lake Harmony, Pennsylvania
Property taxes in Lake Harmony, Pennsylvania, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Lake Harmony is 3.24%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Lake Harmony set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lake Harmony 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 Lake Harmony's effective property tax rate to other areas in Pennsylvania and the national median. For comparison, the zip code 18624 has the highest median property tax rate of 3.24%, while the same zip code also has the lowest median tax rate of 3.24%. Understanding how these areas compare with Lake Harmony provides valuable insights into the varying tax landscape across Carbon County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lake Harmony Tax Rate
3.24%
Average Carbon County Tax Rate
3.64%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lake Harmony, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18624 | 3.24% | 3.24% | 3.24% | 3.24% | 3.24% |
Source: Ownwell
Property Tax Assessment Values Across Lake Harmony, Pennsylvania
In Lake Harmony, 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 Carbon 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 Lake Harmony, 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. The median home price in Lake Harmony is $131,782, with tax bills ranging from $3,058 at the 25th percentile to $8,632 at the 90th percentile. The highest and lowest median tax bills are both $4,265 in zip code 18624. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Lake Harmony, Pennsylvania
Source: Ownwell
$25,900
$78,841
$131,782
Average Lake Harmony Assessed Value
$131,782
Average Carbon County Assessed Value
$80,600
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lake Harmony, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18624 | $75,520 | $94,500 | $131,782 | $196,014 | $266,645 |
Source: Ownwell
Property Tax Bills Across Lake Harmony, Pennsylvania
In Lake Harmony, Carbon County, PA, property tax bills are determined based on the assessed value of a home and the local property tax rate. The assessed value is typically a percentage of the market value determined by the county assessor. For instance, with a median home price of $131,782, the tax bill can vary significantly. Factors such as property size, location, and improvements can influence the assessed value. Homeowners in Lake Harmony experience a range of property tax bills, with the 25th percentile at $3,058 and the 75th percentile at $6,345. At the upper end, the 90th percentile tax bill reaches $8,632. These taxes fund essential public services like schools, emergency services, and infrastructure. Compared to the national median property tax rate of 0.99%, Lake Harmony’s property tax bills may seem high, reflecting the specific needs and budgetary requirements of the local community. This variability in tax bills can significantly impact homeowners' annual financial planning.
Average Lake Harmony Tax Bill
$4,265
Average Carbon County Tax Bill
$2,835
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Lake Harmony, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18624 | $2,461 | $3,058 | $4,265 | $6,345 | $8,632 |
Source: Ownwell