Pocono Lake, Pennsylvania Property Taxes
The median property tax rate in Pocono Lake, PA is 0.72%, considerably lower than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Pocono Lake being $114,960, the typical annual property tax bill reaches $737, which is significantly below the national median of $2,690. Property taxes in Pocono Lake 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 Pocono Lake'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 Pocono Lake or another part of Monroe County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Pocono Lake, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.72%
Estimate Property Tax Bill
$828
Ownwell’s Pocono Lake Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pocono Lake with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pocono Lake 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 Pocono Lake, Pennsylvania
Property taxes in Pocono Lake, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pocono Lake is 0.72%, which is lower than the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Pocono Lake set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pocono Lake 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 Pocono Lake's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the zip code 18347 has the highest median property tax rate of 0.72%, while zip code 18348 has the lowest median tax rate of 0.52%. Understanding how these areas compare with Pocono Lake 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 Pocono Lake Tax Rate
0.72%
Average Monroe County Tax Rate
0.59%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pocono Lake, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18347 | 0.52% | 0.52% | 0.72% | 0.73% | 2.59% |
| 18348 | 0.52% | 0.52% | 0.52% | 0.52% | 0.52% |
Source: Ownwell
Property Tax Assessment Values Across Pocono Lake, Pennsylvania
In Pocono Lake, 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 Pocono Lake, 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 Pocono Lake helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $816 in the 18348 zip code, while the lowest is $737 in the 18347 zip code.
Property Tax Assessment Values Across Pocono Lake, Pennsylvania
Source: Ownwell
$70,390
$620,630
$1,170,870
Average Pocono Lake Assessed Value
$114,960
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 Pocono Lake, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18347 | $77,605 | $92,665 | $114,950 | $153,780 | $233,770 |
| 18348 | $129,726 | $140,265 | $157,830 | $175,395 | $185,934 |
Source: Ownwell
Property Tax Bills Across Pocono Lake, Pennsylvania
Property tax bills in Pocono Lake, Monroe County, PA, are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the county assessor and is a percentage of the property's market value. Homeowners in Pocono Lake pay a median property tax bill of $816, which is lower than the national median of 0.99%. Several factors influence the tax bill, including property size, location, and improvements. For instance, homes in the 25th percentile have tax bills around $581, while those in the 75th percentile pay approximately $1,097. The highest tax bills, in the 90th percentile, can reach up to $2,684. The lowest median tax bill in the area is $737, found in the 18347 zip code, while the highest is $816 in the 18348 zip code. These property taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the quality of life for residents. Understanding how property taxes are calculated can help homeowners better manage their financial planning.
Average Pocono Lake Tax Bill
$737
Average Monroe County Tax Bill
$814
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Pocono Lake, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18347 | $478 | $581 | $737 | $1,097 | $2,684 |
| 18348 | $670 | $725 | $816 | $906 | $961 |
Source: Ownwell