Gouldsboro, Pennsylvania Property Taxes
The median property tax rate in Gouldsboro, PA is 0.73%, considerably lower than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Gouldsboro at $70,390, the typical annual property tax bill reaches $575, significantly below the national median of $2,690. Property taxes in Gouldsboro 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 Gouldsboro'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 Gouldsboro 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
Gouldsboro, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.73%
Estimate Property Tax Bill
$514
Ownwell’s Gouldsboro Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Gouldsboro with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Gouldsboro 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 Gouldsboro, Pennsylvania
Property taxes in Gouldsboro, Pennsylvania, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gouldsboro is 0.73%, lower than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Gouldsboro set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gouldsboro 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 Gouldsboro's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the zip code 18424 has both the highest and lowest median property tax rate of 0.73%. Understanding how these cities compare with Gouldsboro provides valuable insights into the varying tax landscape across Monroe County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gouldsboro Tax Rate
0.73%
Average Monroe County Tax Rate
0.59%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gouldsboro, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18424 | 0.72% | 0.73% | 0.73% | 0.73% | 2.84% |
Source: Ownwell
Property Tax Assessment Values Across Gouldsboro, Pennsylvania
In Gouldsboro, 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 Monroe 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 Gouldsboro, 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 Gouldsboro helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 18424 has the highest and lowest median tax bill, both at $575.
Property Tax Assessment Values Across Gouldsboro, Pennsylvania
Source: Ownwell
$70,390
$620,630
$1,170,870
Average Gouldsboro Assessed Value
$70,390
Average Monroe County Assessed Value
$134,550
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gouldsboro, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18424 | $22,330 | $32,395 | $70,390 | $102,302 | $131,830 |
Source: Ownwell
Property Tax Bills Across Gouldsboro, Pennsylvania
In Gouldsboro, PA, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Homeowners in Gouldsboro can expect varying tax bills depending on their property's assessed value and the specific tax rate applied by Monroe County. For instance, the median home price in Gouldsboro is $70,390. Tax bills can range significantly, with the 25th percentile at $270 and the 75th percentile at $854. The 90th percentile tax bill can go up to $1,345. The highest and lowest median tax bills in the zip code 18424 are both recorded at $575, providing a median benchmark for homeowners. Compared to the national median property tax rate of 0.99%, Gouldsboro's rates can have a substantial impact on homeowners, influencing their overall financial planning and housing affordability. Understanding these factors helps residents anticipate their property tax obligations and manage their budgets effectively.
Average Gouldsboro Tax Bill
$575
Average Monroe County Tax Bill
$814
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Gouldsboro, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18424 | $172 | $270 | $575 | $854 | $1,345 |
Source: Ownwell