Skytop, Pennsylvania Property Taxes
The median property tax rate in Skytop, PA is 0.58%, considerably lower than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Skytop at $1,170,870, the typical annual property tax bill reaches $6,902, exceeding the national median of $2,690. Property taxes in Skytop 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 Skytop'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 Skytop or another part of Monroe County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Skytop, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.58%
Estimate Property Tax Bill
$6,791
Ownwell’s Skytop Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Skytop with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Skytop 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 Skytop, Pennsylvania
Property taxes in Skytop, Pennsylvania, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Skytop is 0.58%, which is lower than the U.S. national median of 0.99%. Local government entities within Skytop set these rates annually, and they can vary significantly across different neighborhoods. Each year, Skytop 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 Skytop's effective property tax rate to other areas in Pennsylvania and the national median. For comparison, the zip code 18357 has both the highest and lowest median property tax rate of 0.58%. Understanding how these areas compare with Skytop 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 Skytop Tax Rate
0.58%
Average Monroe County Tax Rate
0.59%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Skytop, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18357 | 0.58% | 0.58% | 0.58% | 0.58% | 0.58% |
Source: Ownwell
Property Tax Assessment Values Across Skytop, Pennsylvania
In Skytop, 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 Monroe 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 Skytop, 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 Skytop helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in the area are both $6,902, found in the zip code 18357.
Average Skytop Assessed Value
$1,170,870
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 Skytop, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18357 | $415,190 | $828,250 | $1,170,870 | $1,310,000 | $1,612,238 |
Source: Ownwell
Property Tax Bills Across Skytop, Pennsylvania
In Skytop, PA, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For homeowners in Skytop, the median home price is $1,170,870. Property tax bills can vary significantly, with the 25th percentile at $4,821 and the 75th percentile reaching $7,858. The 90th percentile tax bill climbs even higher to $12,483, reflecting the substantial variability in property values and tax burdens within the area. The highest and lowest median tax bills in Skytop both stand at $6,902, indicating a consistent tax rate across different properties. These tax rates are crucial for homeowners to understand, as they directly impact annual financial obligations. Compared to the national median property tax rate of 0.99%, Skytop's property tax rates may present a higher financial burden, making it essential for homeowners to stay informed and consider potential exemptions or appeals to manage their expenses effectively.
Average Skytop Tax Bill
$6,902
Average Monroe County Tax Bill
$814
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Skytop, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18357 | $2,398 | $4,821 | $6,902 | $7,858 | $12,483 |
Source: Ownwell