Honesdale, Pennsylvania Property Taxes
The median property tax rate in Honesdale, PA is 2.26%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Honesdale at $182,100, the typical annual property tax bill reaches $4,409, exceeding the national median of $2,690. Property taxes in Honesdale 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 Honesdale'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 Honesdale 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
Honesdale, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.26%
Estimate Property Tax Bill
$4,115
Ownwell’s Honesdale Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Honesdale with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Honesdale 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 Honesdale, Pennsylvania
Property taxes in Honesdale, PA, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Honesdale is 2.26%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Honesdale set these rates annually, and they can vary significantly across different neighborhoods. Each year, Honesdale 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 Honesdale's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 18431 zip code has the highest median property tax rate of 2.26%, while the same zip code also has the lowest median tax rate of 2.26%. Understanding how these cities compare with Honesdale provides valuable insights into the varying tax landscape across Wayne County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Honesdale Tax Rate
2.26%
Average Wayne County Tax Rate
2.19%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Honesdale, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18431 | 2.23% | 2.24% | 2.26% | 2.75% | 2.75% |
Source: Ownwell
Property Tax Assessment Values Across Honesdale, Pennsylvania
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Honesdale, Pennsylvania. 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 Wayne 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 Honesdale, 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 Honesdale helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 18431 has both the highest and lowest median tax bills, each at $4,409.
Average Honesdale Assessed Value
$182,100
Average Wayne County Assessed Value
$179,900
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Honesdale, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18431 | $49,240 | $125,600 | $182,100 | $259,000 | $359,380 |
Source: Ownwell
Property Tax Bills Across Honesdale, Pennsylvania
In Honesdale, property tax bills are calculated by multiplying the assessed value of a property by the local tax rate. The assessed value is determined by the county assessor and is based on the market value of the home. For example, with a median home price of $182,100, the tax bill for homeowners can vary significantly. Factors such as the property's location, size, and condition are considered in the assessment process. Homeowners in Honesdale experience a range of property tax bills. The 25th percentile tax bill is $3,132, while the 75th percentile tax bill reaches $6,076. For those at the higher end, the 90th percentile tax bill is $8,258. The highest and lowest median tax bills in the area both stand at $4,409, indicating a relatively consistent tax burden across different properties. Compared to the national median property tax rate of 0.99%, Honesdale's property taxes may seem higher, impacting homeowners by increasing their annual housing costs. This can influence decisions on buying or selling property, as well as long-term financial planning.
Average Honesdale Tax Bill
$4,409
Average Wayne County Tax Bill
$4,013
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Honesdale, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18431 | $1,249 | $3,132 | $4,409 | $6,076 | $8,258 |
Source: Ownwell