Lopez, Pennsylvania Property Taxes
The median property tax rate in Lopez, PA is 1.25%, which is higher than the national median of 0.99% but significantly lower than the Pennsylvania state median of 2.81%. With the median home value in Lopez at $64,344, the typical annual property tax bill amounts to $805, which is well below the national median of $2,690. Property taxes in Lopez are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Lopez'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 Lopez or another part of Sullivan County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lopez, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.25%
Estimate Property Tax Bill
$804
Ownwell’s Lopez Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Lopez with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Lopez to provide an estimate of your property tax bill. This valuable 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 Lopez, Pennsylvania
Property taxes in Lopez, Pennsylvania, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Lopez is 1.25%, significantly higher than the U.S. national median of 0.99%. Local government entities within Lopez set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lopez 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 Lopez's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the zip code 18628 has both the highest and lowest median property tax rate of 1.25%. Understanding how these cities compare with Lopez provides valuable insights into the varying tax landscape across Sullivan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lopez Tax Rate
1.25%
Average Sullivan County Tax Rate
1.19%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lopez, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18628 | 1.25% | 1.25% | 1.25% | 1.25% | 1.25% |
Source: Ownwell
Property Tax Assessment Values Across Lopez, Pennsylvania
In Lopez, 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 Sullivan 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 Lopez, 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 Lopez helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Lopez is $64,344, with tax bills ranging from $536 at the 25th percentile to $2,259 at the 90th percentile. The zip code 18628 has the highest median tax bill at $805.
Average Lopez Assessed Value
$64,344
Average Sullivan County Assessed Value
$127,680
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lopez, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18628 | $24,024 | $42,882 | $64,344 | $107,730 | $180,650 |
Source: Ownwell
Property Tax Bills Across Lopez, Pennsylvania
In Lopez, located in Sullivan County, PA, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Lopez stands at $64,344. To determine the tax bill, this assessed value is multiplied by the local tax rate. Factors such as property size, location, and improvements can influence the assessed value. For homeowners in Lopez, the 25th percentile tax bill is $536, while the 75th percentile tax bill is $1,347. Those in the 90th percentile face a tax bill of $2,259. With the highest and lowest median tax bills both at $805 in the zip code 18628, Lopez's property tax rates are relatively consistent. Comparing this to the national median property tax rate of 0.99%, homeowners in Lopez experience a varied range of tax bills, affecting overall affordability and budgeting for residents. Understanding these factors helps homeowners anticipate their annual property tax obligations.
Average Lopez Tax Bill
$805
Average Sullivan County Tax Bill
$1,552
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Lopez, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18628 | $300 | $536 | $805 | $1,347 | $2,259 |
Source: Ownwell