Delaware Water Gap, Pennsylvania Property Taxes
The median property tax rate in Delaware Water Gap, PA is 0.56%, significantly lower than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With a median home value of $146,935, the typical annual property tax bill in Delaware Water Gap is $837, which is well below the national median of $2,690. Property taxes in Delaware Water Gap are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Delaware Water Gap'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 Delaware Water Gap or another part of Monroe County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Delaware Water Gap, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.56%
Estimate Property Tax Bill
$823
Ownwell’s Delaware Water Gap Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Delaware Water Gap with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Delaware Water Gap 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 Monroe County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Delaware Water Gap, Pennsylvania
Property taxes in Delaware Water Gap, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Delaware Water Gap is 0.56%, which is lower than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Delaware Water Gap set these rates annually, and they can vary significantly across different neighborhoods. Each year, Delaware Water Gap 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 Delaware Water Gap's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the zip code 18327 has the highest median property tax rate of 0.56%, while the same zip code also has the lowest median tax rate of 0.56%. Understanding how these cities compare with Delaware Water Gap provides valuable insights into the varying tax landscape across Monroe County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Delaware Water Gap Tax Rate
0.56%
Average Monroe County Tax Rate
0.59%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Delaware Water Gap, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18327 | 0.56% | 0.56% | 0.56% | 0.56% | 0.56% |
Source: Ownwell
Property Tax Assessment Values Across Delaware Water Gap, Pennsylvania
In Delaware Water Gap, 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 Monroe 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 Delaware Water Gap, 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 Delaware Water Gap helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price here is $146,935, with median tax bills ranging from $671 at the 25th percentile to $1,169 at the 75th percentile, and $1,638 at the 90th percentile. The zip code 18327 has the highest and lowest median tax bill, both at $837.
Property Tax Assessment Values Across Delaware Water Gap, Pennsylvania
Source: Ownwell
$70,390
$620,630
$1,170,870
Average Delaware Water Gap Assessed Value
$146,935
Average Monroe County Assessed Value
$134,550
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Delaware Water Gap, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18327 | $101,080 | $118,728 | $146,935 | $198,160 | $264,685 |
Source: Ownwell
Property Tax Bills Across Delaware Water Gap, Pennsylvania
In Delaware Water Gap, Monroe 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, who evaluates the property's market value and applies an assessment ratio. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors influencing the tax bill include the property's market value, any applicable exemptions, and the local tax rate. For instance, with a median home price of $146,935, homeowners can expect varying tax bills. The 25th percentile tax bill stands at $671, while the 75th percentile reaches $1,169, and the 90th percentile peaks at $1,638. These property taxes significantly impact homeowners, influencing their overall housing costs and potentially affecting their financial planning. Compared to the national median property tax rate of 0.99%, Delaware Water Gap's tax rates reflect the region's specific economic and policy environment, impacting how much homeowners ultimately pay.
Average Delaware Water Gap Tax Bill
$837
Average Monroe County Tax Bill
$814
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Delaware Water Gap, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18327 | $571 | $671 | $837 | $1,169 | $1,638 |
Source: Ownwell