Newfoundland, Pennsylvania Property Taxes
The median property tax rate in Newfoundland, PA is 1.93%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Newfoundland, the typical annual property tax bill reaches $3,333, exceeding the national median of $2,690. Property taxes in Newfoundland 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 Newfoundland'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 Newfoundland 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
Newfoundland, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.93%
Estimate Property Tax Bill
$3,080
Ownwell’s Newfoundland Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Newfoundland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Newfoundland 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 Newfoundland, Pennsylvania
Property taxes in Newfoundland, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Newfoundland is 1.93%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Newfoundland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Newfoundland 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 Newfoundland's effective property tax rate to other areas in Pennsylvania and the national median. For comparison, the zip code 18445 has the highest median property tax rate of 1.93%, while the same zip code also has the lowest median tax rate of 1.93%. Understanding how these areas compare with Newfoundland provides valuable insights into the varying tax landscape across Wayne County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Newfoundland Tax Rate
1.93%
Average Wayne County Tax Rate
2.19%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Newfoundland, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18445 | 1.93% | 1.93% | 1.93% | 2.19% | 2.19% |
Source: Ownwell
Property Tax Assessment Values Across Newfoundland, Pennsylvania
In Newfoundland, 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 Wayne 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 Newfoundland, 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 Newfoundland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $3,333, located in zip code 18445.
Property Tax Assessment Values Across Newfoundland, Pennsylvania
Source: Ownwell
$7,000
$250,600
$494,200
Average Newfoundland Assessed Value
$159,600
Average Wayne County Assessed Value
$179,900
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Newfoundland, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18445 | $9,100 | $58,050 | $159,600 | $232,350 | $318,560 |
Source: Ownwell
Property Tax Bills Across Newfoundland, Pennsylvania
In Newfoundland, Wayne County, PA, property tax bills are calculated based on the assessed value of a home. The local tax assessor determines this value, which may differ from the market value. Homeowners then pay a tax rate applied to this assessed value. For instance, with a median home price of $159,600, property tax bills can vary significantly. At the 25th percentile, homeowners might pay around $1,122, while those at the 75th percentile could see bills as high as $4,697. The 90th percentile tax bill can reach up to $6,316. Several factors influence the tax bill, including property size, location, and any applicable exemptions or appeals. These taxes fund essential community services like schools, infrastructure, and emergency services, directly impacting homeowners. Compared to the national median property tax rate of 0.99%, Wayne County's rates reflect the local economic conditions and funding needs. This variability in tax bills can significantly affect a homeowner's financial planning and overall cost of living.
Average Newfoundland Tax Bill
$3,333
Average Wayne County Tax Bill
$4,013
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Newfoundland, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18445 | $178 | $1,122 | $3,333 | $4,697 | $6,316 |
Source: Ownwell