Leraysville, Pennsylvania Property Taxes
The median property tax rate in LERAYSVILLE, PA is 1.63%, considerably higher than the national median of 0.99% but lower than the Pennsylvania state median of 2.81%. With the median home value in LERAYSVILLE at $44,299, the typical annual property tax bill reaches $628, which is significantly below the national median of $2,690. Property taxes in LERAYSVILLE 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 LERAYSVILLE'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 LERAYSVILLE 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
Leraysville, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.63%
Estimate Property Tax Bill
$722
Ownwell’s LERAYSVILLE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in LERAYSVILLE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in LERAYSVILLE 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 Leraysville, Pennsylvania
Property taxes in LERAYSVILLE, PA, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in LERAYSVILLE is 1.63%, significantly higher than the U.S. national median of 0.99%. Local government entities within LERAYSVILLE set these rates annually, and they can vary significantly across different neighborhoods. Each year, LERAYSVILLE 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 LERAYSVILLE's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the ZIP code 18829 has the highest median property tax rate of 1.63%, while the lowest median tax rate also stands at 1.63%. Understanding how these cities compare with LERAYSVILLE provides valuable insights into the varying tax landscape across Bradford County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Leraysville Tax Rate
1.63%
Average Bradford County Tax Rate
3.22%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Leraysville, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18829 | 0.31% | 1.11% | 1.63% | 2.78% | 2.78% |
Source: Ownwell
Property Tax Assessment Values Across Leraysville, Pennsylvania
In LERAYSVILLE, 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 Bradford 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 LERAYSVILLE, 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. The median home price in LERAYSVILLE is $44,299, with the 25th percentile tax bill at $374 and the 75th percentile tax bill at $939. The highest and lowest median tax bills in the area are both $628, found in zip code 18829. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Leraysville Assessed Value
$44,299
Average Bradford County Assessed Value
$61,590
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Leraysville, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18829 | $20,172 | $25,124 | $44,299 | $62,751 | $80,672 |
Source: Ownwell
Property Tax Bills Across Leraysville, Pennsylvania
In Leraysville, located in Bradford County, PA, property tax bills are calculated based on the assessed value of a home. The assessed value is a percentage of the market value, which is determined by local government assessors. For a median home price of $44,299, the tax bill can vary significantly depending on the specific assessment and applicable tax rates. Homeowners in Leraysville see a wide range of tax bills, with the 25th percentile at $374 and the 75th percentile reaching up to $939. The 90th percentile tax bill can climb as high as $1,421. These property tax bills are influenced by several factors, including changes in the local real estate market, updates in property assessments, and adjustments in municipal tax rates. Compared to the national median property tax rate of 0.99%, Leraysville’s rates can be considered relatively moderate. Understanding these variables is crucial for homeowners, as property taxes directly impact their financial planning and homeownership costs.
Average Leraysville Tax Bill
$628
Average Bradford County Tax Bill
$1,935
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Leraysville, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18829 | $182 | $374 | $628 | $939 | $1,421 |
Source: Ownwell