Tatamy Borough, Pennsylvania Property Taxes
The median property tax rate in Tatamy Borough, PA is 4.06%, significantly higher than both the national median of 0.99% and Pennsylvania's state median of 2.81%. With a median home value of $88,500 in Tatamy Borough, the typical annual property tax bill reaches $3,589, surpassing the national median of $2,690. Property taxes in Tatamy Borough are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Tatamy Borough'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 Tatamy Borough or another part of Northampton County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Tatamy Borough, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
4.06%
Estimate Property Tax Bill
$3,593
Ownwell’s Tatamy Borough Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tatamy Borough with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tatamy Borough 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 Tatamy Borough, Pennsylvania
Property taxes in Tatamy Borough, PA, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Tatamy Borough is 4.06%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Tatamy Borough set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tatamy Borough 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 Tatamy Borough's effective property tax rate to other areas in Pennsylvania and the national median. For comparison, the zip code 18045 has the highest median property tax rate of 4.06%, while the same zip code also has the lowest median tax rate of 4.06%. Understanding how these areas compare with Tatamy Borough provides valuable insights into the varying tax landscape across Northampton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Tatamy Borough Tax Rate
4.06%
Average Northampton County Tax Rate
3.95%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tatamy Borough, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18045 | 4.06% | 4.06% | 4.06% | 4.06% | 4.06% |
Source: Ownwell
Property Tax Assessment Values Across Tatamy Borough, Pennsylvania
In Tatamy Borough, 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 Northampton 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 Tatamy Borough, 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 Tatamy Borough is $88,500, with the 25th percentile tax bill at $3,096 and the 75th percentile tax bill at $4,130. The zip code 18045 has the highest and lowest median tax bill at $3,589. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Tatamy Borough, Pennsylvania
Source: Ownwell
$66,500
$208,650
$350,800
Average Tatamy Borough Assessed Value
$88,500
Average Northampton County Assessed Value
$115,200
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Tatamy Borough, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18045 | $74,820 | $76,350 | $88,500 | $101,850 | $105,540 |
Source: Ownwell
Property Tax Bills Across Tatamy Borough, Pennsylvania
In Tatamy Borough, Northampton County, PA, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by county officials and is meant to represent a percentage of the property's market value. Homeowners in Tatamy Borough can expect property tax bills to vary significantly, with the 25th percentile tax bill at $3,096 and the 75th percentile reaching $4,130. At the 90th percentile, the tax bill can go up to $4,280. These tax bills are higher than the national median property tax rate of 0.99%, reflecting the specific tax structure and property values in the area. For a home with a median price of $88,500, the property tax bill can be a substantial financial consideration. This higher tax burden affects homeowners by increasing their annual housing costs, which can impact budgeting and financial planning. Understanding how these factors interplay is crucial for homeowners in managing their expenses effectively.
Average Tatamy Borough Tax Bill
$3,589
Average Northampton County Tax Bill
$4,642
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Tatamy Borough, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18045 | $3,034 | $3,096 | $3,589 | $4,130 | $4,280 |
Source: Ownwell