Lords Valley, Pennsylvania Property Taxes
The median property tax rate in Lords Valley, PA is 2.70%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Lords Valley at $137,560, the typical annual property tax bill reaches $3,823, exceeding the national median of $2,690. Property taxes in Lords Valley 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 Lords Valley'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 Lords Valley or another part of Pike County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lords Valley, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.7%
Estimate Property Tax Bill
$3,714
Ownwell’s Lords Valley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lords Valley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lords Valley 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 Lords Valley, Pennsylvania
Property taxes in Lords Valley, Pennsylvania, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lords Valley is 2.70%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Lords Valley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lords Valley 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 Lords Valley's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 18428 zip code has both the highest and lowest median property tax rate of 2.70%. Understanding how these areas compare with Lords Valley 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 Lords Valley Tax Rate
2.70%
Average Pike County Tax Rate
3.72%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lords Valley, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18428 | 2.70% | 2.70% | 2.70% | 2.70% | 2.70% |
Source: Ownwell
Property Tax Assessment Values Across Lords Valley, Pennsylvania
In Lords Valley, 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 Lords Valley, 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. For instance, the median home price in Lords Valley is $137,560, with property tax bills ranging significantly. The 25th percentile tax bill is $2,813, while the 75th percentile reaches $4,627, and the 90th percentile hits $5,649. 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 Lords Valley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Lords Valley, Pennsylvania
Source: Ownwell
$71,900
$130,413
$188,925
Average Lords Valley Assessed Value
$137,560
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 Lords Valley, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18428 | $80,810 | $104,004 | $137,560 | $169,828 | $198,214 |
Source: Ownwell
Property Tax Bills Across Lords Valley, Pennsylvania
In Lords Valley, Pike County, PA, property tax bills are calculated based on the assessed value of the home and the local tax rate. The assessed value is determined by the county assessor and is generally a percentage of the market value of the property. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual property tax bill. Several factors influence the assessed value, including the property's size, location, and condition. For homeowners in Lords Valley, the median home price is around $137,560. Property tax bills can vary significantly, with the 25th percentile bill at approximately $2,813, the 75th percentile at about $4,627, and the 90th percentile reaching up to $5,649. These variations reflect differences in property values and specific assessments. Compared to the national median property tax rate of 0.99%, residents in Lords Valley may find their property tax bills to be relatively higher, impacting their annual financial planning and homeownership costs.
Average Lords Valley Tax Bill
$3,823
Average Pike County Tax Bill
$3,676
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Lords Valley, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18428 | $2,179 | $2,813 | $3,823 | $4,627 | $5,649 |
Source: Ownwell