New Park, Pennsylvania Property Taxes
The median property tax rate in New Park, PA is 2.99%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in New Park, the typical annual property tax bill reaches $5,156, exceeding the national median of $2,690. Property taxes in New Park 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 New Park'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 New Park 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
New Park, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.99%
Estimate Property Tax Bill
$5,147
Ownwell’s NEW PARK Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in NEW PARK with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in NEW PARK 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 New Park, Pennsylvania
Property taxes in New Park, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in New Park is 2.99%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within New Park set these rates annually, and they can vary significantly across different neighborhoods. Each year, New Park 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 New Park's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the zip code 17352 has both the highest and lowest median property tax rate of 2.99%. Understanding how these cities compare with New Park provides valuable insights into the varying tax landscape across York County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average New Park Tax Rate
2.99%
Average York County Tax Rate
3.29%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across New Park, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17352 | 2.99% | 2.99% | 2.99% | 2.99% | 3.00% |
Source: Ownwell
Property Tax Assessment Values Across New Park, Pennsylvania
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in New Park, 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 York 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 New Park, 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 New Park helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 17352 has the highest median tax bill of $5156.
Average New Park Assessed Value
$172,145
Average York County Assessed Value
$130,990
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across New Park, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17352 | $105,248 | $138,570 | $172,145 | $207,518 | $250,433 |
Source: Ownwell
Property Tax Bills Across New Park, Pennsylvania
In New Park, PA, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in New Park, the median home price is $172,145, and tax bills can vary significantly. For instance, the 25th percentile tax bill is $4,129, while the 75th percentile tax bill is $6,205, and those in the 90th percentile can see bills as high as $7,489. These figures are notably higher compared to the national median property tax rate of 0.99%. Factors influencing these tax bills include the home's assessed value, local tax rates, and any applicable exemptions or deductions. High property taxes can significantly impact homeowners by increasing the cost of homeownership, affecting monthly budgets, and potentially influencing decisions on whether to buy or sell property in the area.
Average New Park Tax Bill
$5,156
Average York County Tax Bill
$4,203
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across New Park, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17352 | $3,147 | $4,129 | $5,156 | $6,205 | $7,489 |
Source: Ownwell