Hanover, Pennsylvania Property Taxes
The median property tax rate in Hanover, PA is 2.13%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Hanover, the typical annual property tax bill reaches $3,920, exceeding the national median of $2,690. Property taxes in Hanover 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 Hanover'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 Hanover 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
Hanover, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.13%
Estimate Property Tax Bill
$4,143
Ownwell’s Hanover Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hanover with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hanover 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 Hanover, Pennsylvania
Property taxes in Hanover, Pennsylvania, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Hanover is 2.13%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Hanover set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hanover 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 Hanover's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 17331 zip code has the highest median property tax rate of 2.13%, while the same zip code also represents the lowest median tax rate of 2.13%. Understanding how these cities compare with Hanover provides valuable insights into the varying tax landscape across Adams County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hanover Tax Rate
2.13%
Average Adams County Tax Rate
1.78%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hanover, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17331 | 1.77% | 1.97% | 2.13% | 2.13% | 2.13% |
Source: Ownwell
Property Tax Assessment Values Across Hanover, Pennsylvania
In Hanover, 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 Adams 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 Hanover, 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. The median home price in Hanover is $194,500, with tax bills ranging from $3,234 at the 25th percentile to $6,739 at the 90th percentile. The highest and lowest median tax bills are both $3,920, found in zip code 17331. 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 Hanover helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Hanover Assessed Value
$194,500
Average Adams County Assessed Value
$207,500
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hanover, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17331 | $130,700 | $156,700 | $194,500 | $280,875 | $346,730 |
Source: Ownwell
Property Tax Bills Across Hanover, Pennsylvania
In Hanover, located in Adams 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 assessor and is intended to reflect the market value of the property. Homeowners in Hanover face varying tax bills, with the 25th percentile at $3,234 and the 75th percentile at $5,564. The median home price in Hanover is $194,500, which helps determine the assessed value used for tax calculations. The local tax rate applied to the assessed value results in the final property tax bill. For instance, the highest median tax bill in the area is $3,920, and the lowest is also $3,920, both in the 17331 zip code. These tax bills are higher than the national median property tax rate of 0.99%, highlighting the significant impact on homeowners in Hanover. Accurate assessments and understanding local tax rates are crucial for managing property tax obligations effectively.
Average Hanover Tax Bill
$3,920
Average Adams County Tax Bill
$3,745
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Hanover, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17331 | $2,667 | $3,234 | $3,920 | $5,564 | $6,739 |
Source: Ownwell