Prompton, Pennsylvania Property Taxes
The median property tax rate in Prompton, PA is 2.23%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Prompton at $177,750, the typical annual property tax bill reaches $3,955, exceeding the national median of $2,690. Property taxes in Prompton 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 Prompton'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 Prompton 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
Prompton, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.23%
Estimate Property Tax Bill
$3,964
Ownwell’s Prompton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Prompton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Prompton 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 Prompton, Pennsylvania
Property taxes in Prompton, Pennsylvania, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Prompton is 2.23%, significantly higher than the U.S. national median of 0.99%. Local government entities within Prompton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Prompton 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 Prompton's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 18456 zip code has the highest median property tax rate of 2.23%, while the 18456 zip code also has the lowest median tax rate of 2.23%. Understanding how these cities compare with Prompton 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 Prompton Tax Rate
2.23%
Average Wayne County Tax Rate
2.19%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Prompton, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18456 | 2.18% | 2.18% | 2.23% | 2.26% | 2.26% |
Source: Ownwell
Property Tax Assessment Values Across Prompton, Pennsylvania
In Prompton, 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 Appraisal District 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 Prompton, 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 Prompton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 18456 at $3955, while the lowest median tax bill is also in the same zip code at $3955.
Average Prompton Assessed Value
$177,750
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 Prompton, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18456 | $90,720 | $130,675 | $177,750 | $248,150 | $301,340 |
Source: Ownwell
Property Tax Bills Across Prompton, Pennsylvania
In Prompton, PA, property tax bills are calculated based on the assessed value of a home, which is determined by local government assessments. Homeowners in Wayne County, where Prompton is located, can expect their tax bill to be influenced by several factors, including the assessed value of their property and the local tax rate. The median home price in Prompton stands at $177,750. For homeowners, the tax bill can vary significantly. At the 25th percentile, property tax bills are around $2,889, while at the 75th percentile, they reach approximately $5,559. For those in the 90th percentile, the tax bill can be as high as $6,763. The highest median tax bill recorded in Prompton is $3,955, which is notably higher than the national median property tax rate of 0.99%. This variation in tax bills means that homeowners need to be aware of how their property's assessed value and the local tax rate can impact their annual expenses, making it crucial to stay informed and proactive about their property taxes.
Average Prompton Tax Bill
$3,955
Average Wayne County Tax Bill
$4,013
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Prompton, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18456 | $2,046 | $2,889 | $3,955 | $5,559 | $6,763 |
Source: Ownwell