Tannersville, Pennsylvania Property Taxes
The median property tax rate in Tannersville, PA is 0.70%, significantly lower than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Tannersville at $162,215, the typical annual property tax bill amounts to $1,036, which is well below the national median of $2,690. Property taxes in Tannersville are determined based on the tax assessed value, which is often lower than the market value due to various exemptions, including primary residence and agricultural exemptions. Understanding Tannersville's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to considerable annual savings. Whether you're in the heart of Tannersville or another part of Monroe County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Tannersville, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.7%
Estimate Property Tax Bill
$1,136
Ownwell’s Tannersville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tannersville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tannersville 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 Tannersville, Pennsylvania
Property taxes in Tannersville, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Tannersville is 0.70%, which is notably lower than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Tannersville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tannersville 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 Tannersville's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the zip code 18372 has both the highest and lowest median property tax rate of 0.70%. Understanding how these cities compare with Tannersville 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 Tannersville Tax Rate
0.70%
Average Monroe County Tax Rate
0.59%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tannersville, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18372 | 0.50% | 0.50% | 0.70% | 0.70% | 2.90% |
Source: Ownwell
Property Tax Assessment Values Across Tannersville, Pennsylvania
In Tannersville, 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 Tannersville, 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 Tannersville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Tannersville is $162,215, with the 25th percentile tax bill at $821 and the 75th percentile at $1,482. The highest and lowest median tax bills are both $1,036 in the 18372 zip code.
Property Tax Assessment Values Across Tannersville, Pennsylvania
Source: Ownwell
$70,390
$620,630
$1,170,870
Average Tannersville Assessed Value
$162,215
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 Tannersville, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18372 | $115,399 | $138,908 | $162,215 | $199,500 | $244,203 |
Source: Ownwell
Property Tax Bills Across Tannersville, Pennsylvania
In Tannersville, Monroe 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 reflects a percentage of the home's market value. Homeowners in Tannersville can expect their annual property tax bills to vary significantly depending on their property's assessed value and the specific tax rates applied. For instance, the 25th percentile of property tax bills in Tannersville is $821, while the 75th percentile reaches $1,482, and the 90th percentile can go up to $3,707. The median home price in the area is $162,215, which provides a reference point for understanding these tax amounts. Compared to the national median property tax rate of 0.99%, Tannersville's property tax rates can be seen as relatively moderate, impacting homeowners' annual financial planning. Understanding these factors helps homeowners anticipate their tax obligations and manage their budgets effectively, ensuring they are prepared for their annual property tax bills.
Average Tannersville Tax Bill
$1,036
Average Monroe County Tax Bill
$814
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Tannersville, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18372 | $706 | $821 | $1,036 | $1,482 | $3,707 |
Source: Ownwell