Lamar, Pennsylvania Property Taxes
The median property tax rate in Lamar, PA is 1.97%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Lamar at $96,700, the typical annual property tax bill reaches $1,907, exceeding the national median of $2,690. Property taxes in Lamar 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 Lamar'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 Lamar 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
Lamar, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.97%
Estimate Property Tax Bill
$1,905
Ownwell’s Lamar Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Lamar with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Lamar to provide an estimated property tax bill. This valuable tool helps you grasp potential tax liabilities. For those curious about neighborhood-level trends, more localized information is available below. Your property’s assessed value is determined by the county for property tax purposes, incorporating any applicable exemptions.
Property Tax Rates Across Lamar, Pennsylvania
Property taxes in Lamar, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lamar is 1.97%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Lamar set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lamar 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 Lamar's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 16848 zip code has both the highest and lowest median property tax rate of 1.97%. Understanding how these areas compare with Lamar provides valuable insights into the varying tax landscape across Clinton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lamar Tax Rate
1.97%
Average Clinton County Tax Rate
2.04%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lamar, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16848 | 1.97% | 1.97% | 1.97% | 1.97% | 1.97% |
Source: Ownwell
Property Tax Assessment Values Across Lamar, Pennsylvania
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Lamar, 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 Clinton 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 Lamar, 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 Lamar 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 $1,907 in zip code 16848, while the lowest median tax bill is also $1,907 in the same zip code.
Average Lamar Assessed Value
$96,700
Average Clinton County Assessed Value
$57,200
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lamar, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16848 | $37,680 | $58,500 | $96,700 | $111,750 | $134,460 |
Source: Ownwell
Property Tax Bills Across Lamar, Pennsylvania
In Lamar, located in Clinton County, PA, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by local government assessors who evaluate the market value of the property. Homeowners in Lamar can expect their property taxes to be influenced by this assessed value, as well as the local tax rate set by the county. For instance, with a median home price of $96,700, homeowners can anticipate varying tax bills. The 25th percentile tax bill is around $1,154, while the 75th percentile reaches approximately $2,204. Those in the 90th percentile might see tax bills as high as $2,652. Comparatively, the national median property tax rate is 0.99%, making Lamar's property tax relatively significant for homeowners. This tax burden can affect homeowners' financial planning and their overall cost of living. Understanding these factors is crucial for residents to manage their expenses effectively.
Average Lamar Tax Bill
$1,907
Average Clinton County Tax Bill
$1,228
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Lamar, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16848 | $743 | $1,154 | $1,907 | $2,204 | $2,652 |
Source: Ownwell