Lackawaxen, Pennsylvania Property Taxes
The median property tax rate in Lackawaxen, PA is 2.87%, significantly higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Lackawaxen, the typical annual property tax bill reaches $3,121, surpassing the national median of $2,690. Property taxes in Lackawaxen are calculated based on the tax assessed value, often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Lackawaxen'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 Lackawaxen 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
Lackawaxen, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.87%
Estimate Property Tax Bill
$3,132
Ownwell’s Lackawaxen Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lackawaxen with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lackawaxen 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 Lackawaxen, Pennsylvania
Property taxes in Lackawaxen, Pennsylvania, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Lackawaxen is 2.87%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Lackawaxen set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lackawaxen 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 Lackawaxen's effective property tax rate to other areas in Pennsylvania and the national median. For comparison, the zip code 18435 in Pike County has the highest median property tax rate of 2.87%, while the same zip code also has the lowest median tax rate of 2.87%. Understanding how these rates compare with Lackawaxen provides valuable insights into the varying tax landscape across Pike County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lackawaxen Tax Rate
2.87%
Average Pike County Tax Rate
3.72%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lackawaxen, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18435 | 2.87% | 2.87% | 2.87% | 2.87% | 2.87% |
Source: Ownwell
Property Tax Assessment Values Across Lackawaxen, Pennsylvania
In Lackawaxen, 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 Pike 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 Lackawaxen, 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 Lackawaxen 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 $3,121 in the 18435 zip code, while the lowest is also $3,121 in the same zip code.
Property Tax Assessment Values Across Lackawaxen, Pennsylvania
Source: Ownwell
$71,900
$130,413
$188,925
Average Lackawaxen Assessed Value
$109,123
Average Pike County Assessed Value
$106,483
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lackawaxen, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18435 | $69,931 | $84,876 | $109,123 | $148,889 | $179,884 |
Source: Ownwell
Property Tax Bills Across Lackawaxen, Pennsylvania
In Lackawaxen, located in Pike County, PA, property tax bills are determined through a combination of assessed property values and the local tax rate. The assessed value is an estimate of your property's market value, which is then multiplied by the county's tax rate to calculate your annual tax bill. This process ensures that homeowners contribute their fair share to local services such as schools, infrastructure, and emergency services. For example, with a median home price of $109,123, property tax bills can vary significantly. Homeowners at the 25th percentile can expect to pay around $2,430 annually, while those at the 75th percentile might see bills closer to $4,258. At the 90th percentile, tax bills can reach up to $5,160. This range highlights the impact of property values and local rates on tax obligations. Compared to the national median property tax rate of 0.99%, the rates in Lackawaxen can result in varying financial responsibilities for homeowners, emphasizing the importance of understanding how these factors influence your property tax bill.
Average Lackawaxen Tax Bill
$3,121
Average Pike County Tax Bill
$3,676
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Lackawaxen, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18435 | $1,984 | $2,430 | $3,121 | $4,258 | $5,160 |
Source: Ownwell