South Canaan, Pennsylvania Property Taxes
The median property tax rate in South Canaan, PA is 2.30%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in South Canaan, the typical annual property tax bill reaches $3,055, exceeding the national median of $2,690. Property taxes in South Canaan 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 South Canaan'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 South Canaan 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
South Canaan, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.3%
Estimate Property Tax Bill
$3,061
Ownwell’s SOUTH CANAAN Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in SOUTH CANAAN with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in SOUTH CANAAN 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 South Canaan, Pennsylvania
Property taxes in South Canaan, Pennsylvania, are essential for funding crucial local services, including public schools, road maintenance, and emergency services. The median tax rate in South Canaan is 2.30%, significantly higher than the U.S. national median of 0.99%. Local government entities within South Canaan set these rates annually, and they can vary across different neighborhoods. Each year, South Canaan 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 South Canaan's effective property tax rate to other areas in Pennsylvania and the national median. For comparison, the zip code 18459 has the highest median property tax rate of 2.30%, while the same zip code also has the lowest median tax rate of 2.30%. Understanding how these areas compare with South Canaan 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 South Canaan Tax Rate
2.30%
Average Wayne County Tax Rate
2.19%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across South Canaan, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18459 | 2.30% | 2.30% | 2.30% | 2.30% | 2.30% |
Source: Ownwell
Property Tax Assessment Values Across South Canaan, Pennsylvania
In South Canaan, 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 local appraisal district 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 South Canaan, 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 South Canaan helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 18459, with a median tax bill of $3055, while the lowest median tax bill also falls in the same zip code.
Property Tax Assessment Values Across South Canaan, Pennsylvania
Source: Ownwell
$7,000
$250,600
$494,200
Average South Canaan Assessed Value
$133,100
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 South Canaan, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18459 | $38,740 | $49,500 | $133,100 | $209,700 | $291,900 |
Source: Ownwell
Property Tax Bills Across South Canaan, Pennsylvania
In South Canaan, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in the area is $133,100. Homeowners can expect their property tax bills to vary significantly, with the 25th percentile at $1,136 and the 75th percentile reaching $4,813. For those at the 90th percentile, the bill can be as high as $6,699. The assessed value of a property is determined by local assessors who evaluate various factors such as the size, location, and condition of the home. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. Compared to the national median property tax rate of 0.99%, South Canaan's tax rates can lead to higher or lower bills depending on the home's assessed value. Homeowners in the zip code 18459, for instance, face the highest median tax bill in the county at $3,055. This variability in property tax bills can significantly impact homeowners' financial planning and overall affordability of living in the area.
Average South Canaan Tax Bill
$3,055
Average Wayne County Tax Bill
$4,013
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across South Canaan, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18459 | $889 | $1,136 | $3,055 | $4,813 | $6,699 |
Source: Ownwell