Oley, Pennsylvania Property Taxes
The median property tax rate in Oley, PA is 4.17%, significantly higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Oley at $124,900, the typical annual property tax bill reaches $4,880, far exceeding the national median of $2,690. Property taxes in Oley are calculated based on the assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Oley'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 Oley 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
Oley, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
4.17%
Estimate Property Tax Bill
$5,208
Ownwell’s Oley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Oley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Oley 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 Oley, Pennsylvania
Property taxes in Oley, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Oley is 4.17%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Oley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Oley 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 Oley's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the zip code 19547 has the highest median property tax rate of 4.17%, while the same zip code also has the lowest median tax rate of 4.17%. Understanding how these cities compare with Oley 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 Oley Tax Rate
4.17%
Average Berks County Tax Rate
4.37%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Oley, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19547 | 3.25% | 3.87% | 4.17% | 4.17% | 4.17% |
Source: Ownwell
Property Tax Assessment Values Across Oley, Pennsylvania
In Oley, 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 Berks 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 Oley, 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 Oley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Oley are both $4,880, found in the 19547 zip code.
Average Oley Assessed Value
$124,900
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 Oley, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19547 | $76,130 | $96,525 | $124,900 | $185,800 | $245,797 |
Source: Ownwell
Property Tax Bills Across Oley, Pennsylvania
In Oley, located in Berks County, PA, property tax bills are calculated based on the assessed value of a home, which is determined by the county's tax assessor. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Various factors influence the assessed value, including the property's size, location, and market value. For homeowners in Oley, the property tax burden can vary significantly. The median home price in the area is $124,900. Property tax bills range widely, with the 25th percentile at $3,853 and the 75th percentile at $6,836. At the 90th percentile, homeowners might see bills as high as $8,860. Compared to the national median property tax rate of 0.99%, Oley’s tax rates can be relatively high, impacting homeowners' annual expenses considerably. Understanding these factors is crucial for homeowners as property taxes can significantly affect the overall cost of owning a home in Oley.
Average Oley Tax Bill
$4,880
Average Berks County Tax Bill
$4,153
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Oley, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19547 | $3,000 | $3,853 | $4,880 | $6,836 | $8,860 |
Source: Ownwell