Lake Ariel, Pennsylvania Property Taxes
The median property tax rate in Lake Ariel, PA is 2.17%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Lake Ariel at $193,200, the typical annual property tax bill reaches $4,140, exceeding the national median of $2,690. Property taxes in Lake Ariel 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 Lake Ariel'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 Lake Ariel or another part of Wayne County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lake Ariel, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.17%
Estimate Property Tax Bill
$4,192
Ownwell’s Lake Ariel Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lake Ariel with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lake Ariel 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 Lake Ariel, Pennsylvania
Property taxes in Lake Ariel, Pennsylvania, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lake Ariel is 2.17%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Lake Ariel set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lake Ariel 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 Lake Ariel's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 18436 zip code has the highest median property tax rate of 2.17%, while the same 18436 zip code also has the lowest median tax rate of 2.17%. Understanding how these cities compare with Lake Ariel 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 Lake Ariel Tax Rate
2.17%
Average Wayne County Tax Rate
2.19%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lake Ariel, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18436 | 1.95% | 2.17% | 2.17% | 2.18% | 2.18% |
Source: Ownwell
Property Tax Assessment Values Across Lake Ariel, Pennsylvania
In Lake Ariel, 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 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 Lake Ariel, 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 Lake Ariel helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Lake Ariel is $193,200, with the highest median tax bill being $4,140 in the 18436 zip code. The 25th percentile tax bill is $3,213, while the 75th percentile tax bill is $5,546 and the 90th percentile tax bill reaches $8,151.
Average Lake Ariel Assessed Value
$193,200
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 Lake Ariel, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18436 | $103,400 | $148,600 | $193,200 | $258,100 | $378,800 |
Source: Ownwell
Property Tax Bills Across Lake Ariel, Pennsylvania
In Lake Ariel, property tax bills are calculated based on the assessed value of a home and the local tax rate set by Wayne County. The assessed value is determined by the county's appraisal district, reflecting a percentage of the property's market value. Homeowners in Lake Ariel face varying tax bills depending on their property's assessed value. The median home price in this area is $193,200, and tax bills can range significantly. For instance, the 25th percentile tax bill is $3,213, while the 75th percentile tax bill rises to $5,546. At the higher end, the 90th percentile tax bill reaches $8,151. These property taxes fund essential local services such as schools, infrastructure, and public safety, directly impacting the community's quality of life. With a median tax bill of $4,140, homeowners in Lake Ariel experience a property tax rate higher than the national median of 0.99%, underscoring the importance of understanding and managing property tax liabilities effectively.
Average Lake Ariel Tax Bill
$4,140
Average Wayne County Tax Bill
$4,013
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Lake Ariel, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18436 | $2,383 | $3,213 | $4,140 | $5,546 | $8,151 |
Source: Ownwell