Schaefferstown, Pennsylvania Property Taxes
The median property tax rate in Schaefferstown, PA is 2.08%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Schaefferstown at $139,732, the typical annual property tax bill reaches $2,912, exceeding the national median of $2,690. Property taxes in Schaefferstown 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 Schaefferstown'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 Schaefferstown 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
Schaefferstown, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.08%
Estimate Property Tax Bill
$2,906
Ownwell’s Schaefferstown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Schaefferstown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Schaefferstown 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 Schaefferstown, Pennsylvania
Property taxes in Schaefferstown, Pennsylvania, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Schaefferstown is 2.08%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Schaefferstown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Schaefferstown 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 Schaefferstown's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 17088 zip code has the highest median property tax rate of 2.08%, while the same zip code also has the lowest median tax rate of 2.08%. Understanding how these figures compare with Schaefferstown provides valuable insights into the varying tax landscape across Lebanon County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Schaefferstown Tax Rate
2.08%
Average Lebanon County Tax Rate
2.19%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Schaefferstown, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17088 | 2.08% | 2.08% | 2.08% | 2.08% | 2.08% |
Source: Ownwell
Property Tax Assessment Values Across Schaefferstown, Pennsylvania
In Schaefferstown, 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 Lebanon County 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 Schaefferstown, 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. Schaefferstown's median home price stands at $139,732, with tax bills ranging from $2,606 at the 25th percentile to $4,293 at the 90th percentile. The zip code with both the highest and lowest median tax bill is 17088, with a median tax bill of $2,912. 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 Schaefferstown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Schaefferstown, Pennsylvania
Source: Ownwell
$81,364
$250,641
$419,917
Average Schaefferstown Assessed Value
$139,732
Average Lebanon County Assessed Value
$159,855
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Schaefferstown, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17088 | $98,685 | $125,051 | $139,732 | $160,266 | $205,995 |
Source: Ownwell
Property Tax Bills Across Schaefferstown, Pennsylvania
In Schaefferstown, property tax bills are calculated based on the assessed value of a home, which is determined by local government assessors. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For homeowners in Schaefferstown, located in Lebanon County, the median home price is $139,732. The property tax bill can vary significantly, with the 25th percentile at $2,606 and the 75th percentile at $3,340, while the 90th percentile reaches up to $4,293. These tax bills are influenced by several factors, including the home's assessed value, any applicable exemptions, and the specific tax rate set by local authorities. Compared to the national median property tax rate of 0.99%, Schaefferstown's rates can be higher, reflecting the local government's budgetary needs and public service funding. Homeowners in this area need to be aware of these factors as they can significantly impact their annual financial planning and overall cost of homeownership.
Average Schaefferstown Tax Bill
$2,912
Average Lebanon County Tax Bill
$3,511
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Schaefferstown, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17088 | $2,057 | $2,606 | $2,912 | $3,340 | $4,293 |
Source: Ownwell