Newmanstown, Pennsylvania Property Taxes
The median property tax rate in Newmanstown, PA is 2.50%, significantly higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With a median home value of $225,700 in Newmanstown, the typical annual property tax bill reaches $5,709, far exceeding the national median of $2,690. Property taxes in Newmanstown are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Newmanstown's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Newmanstown or another part of Berks County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Newmanstown, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.5%
Estimate Property Tax Bill
$5,643
Ownwell’s Newmanstown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Newmanstown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Newmanstown 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 Newmanstown, Pennsylvania
Property taxes in Newmanstown, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Newmanstown is 2.50%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Newmanstown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Newmanstown 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 Newmanstown's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the zip code 17073 has the highest median property tax rate of 2.50%, while the same zip code also holds the lowest median tax rate of 2.50%. Understanding how these cities compare with Newmanstown provides valuable insights into the varying tax landscape across Berks County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Newmanstown Tax Rate
2.50%
Average Berks County Tax Rate
4.37%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Newmanstown, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17073 | 2.42% | 2.45% | 2.50% | 3.39% | 3.92% |
Source: Ownwell
Property Tax Assessment Values Across Newmanstown, Pennsylvania
In Newmanstown, 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 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 Newmanstown, 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. For instance, the median home price in Newmanstown is $225,700, with tax bills ranging from $5,564 at the 25th percentile to $8,286 at the 90th percentile. 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 Newmanstown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Newmanstown, Pennsylvania
Source: Ownwell
$21,200
$200,375
$379,550
Average Newmanstown Assessed Value
$225,700
Average Berks County Assessed Value
$97,000
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Newmanstown, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17073 | $151,940 | $179,600 | $225,700 | $291,150 | $330,420 |
Source: Ownwell
Property Tax Bills Across Newmanstown, Pennsylvania
In Newmanstown, located in Berks County, PA, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and represents a percentage of the property's market value. Homeowners in this area experience a range of tax bills, influenced by the specific characteristics and value of their property. For instance, the median home price in Newmanstown is $225,700. Property tax bills can vary significantly, with the 25th percentile at $5,564, the 75th percentile at $7,320, and the 90th percentile reaching up to $8,286. These figures indicate that tax bills in Newmanstown can be quite substantial compared to the national median property tax rate of 0.99%. The highest and lowest median tax bills in Newmanstown are both recorded at $5,709, highlighting a level of consistency in the tax assessments within the area. These property taxes play a crucial role in funding local services, such as schools and public safety, directly impacting the quality of life for homeowners.
Average Newmanstown Tax Bill
$5,709
Average Berks County Tax Bill
$4,153
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Newmanstown, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17073 | $5,477 | $5,564 | $5,709 | $7,320 | $8,286 |
Source: Ownwell