Tatamy, Pennsylvania Property Taxes
The median property tax rate in Tatamy, PA, is 4.06%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Tatamy at $106,600, the typical annual property tax bill reaches $4,323, exceeding the national median of $2,690. Property taxes in Tatamy are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Tatamy'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 Tatamy 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
Tatamy, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
4.06%
Estimate Property Tax Bill
$4,328
Ownwell’s Tatamy Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tatamy with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tatamy 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 Tatamy, Pennsylvania
Property taxes in Tatamy, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Tatamy is 4.06%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Tatamy set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tatamy 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 Tatamy's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 18085 zip code has the highest median property tax rate of 4.06%, while the same zip code also has the lowest median tax rate of 4.06%. Understanding how these cities compare with Tatamy provides valuable insights into the varying tax landscape across Northampton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Tatamy Tax Rate
4.06%
Average Northampton County Tax Rate
3.95%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tatamy, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18085 | 4.06% | 4.06% | 4.06% | 4.06% | 4.06% |
Source: Ownwell
Property Tax Assessment Values Across Tatamy, Pennsylvania
In Tatamy, 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 Northampton 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 Tatamy, 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 Tatamy helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Tatamy are both $4323, found in zip code 18085.
Average Tatamy Assessed Value
$106,600
Average Northampton County Assessed Value
$115,200
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Tatamy, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18085 | $76,140 | $90,550 | $106,600 | $124,050 | $145,820 |
Source: Ownwell
Property Tax Bills Across Tatamy, Pennsylvania
In Tatamy, Northampton County, PA, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For homeowners in Tatamy, the median home price is $106,600. Property tax bills in this area vary significantly, with the 25th percentile at $3,674 and the 75th percentile reaching $5,061. At the 90th percentile, tax bills can go up to $5,916. Factors influencing the tax bill include the home's assessed value, the local tax rate, and any applicable exemptions or abatements. Compared to the national median property tax rate of 0.99%, homeowners in Tatamy may find their tax bills relatively high. For instance, the highest median tax bill in the area is $4,323, which is significantly above the national median. This higher tax burden can impact homeowners by increasing their overall housing costs, thus affecting affordability and potentially influencing decisions on homeownership.
Average Tatamy Tax Bill
$4,323
Average Northampton County Tax Bill
$4,642
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Tatamy, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18085 | $3,126 | $3,674 | $4,323 | $5,061 | $5,916 |
Source: Ownwell