Lykens, Pennsylvania Property Taxes
The median property tax rate in Lykens, PA is 3.14%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Lykens at $50,650, the typical annual property tax bill reaches $1,566, which is below the national median of $2,690. Property taxes in Lykens 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 Lykens' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Lykens 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
Lykens, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.14%
Estimate Property Tax Bill
$1,590
Ownwell’s Lykens Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lykens with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lykens 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 Lykens, Pennsylvania
Property taxes in Lykens, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lykens is 3.14%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Lykens set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lykens 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 Lykens' effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 17048 zip code has both the highest and lowest median property tax rate of 3.14%. Understanding how these cities compare with Lykens provides valuable insights into the varying tax landscape across Dauphin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lykens Tax Rate
3.14%
Average Dauphin County Tax Rate
2.88%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lykens, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17048 | 2.72% | 2.84% | 3.14% | 3.18% | 3.18% |
Source: Ownwell
Property Tax Assessment Values Across Lykens, Pennsylvania
In Lykens, Pennsylvania, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value represents 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 Dauphin 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 Lykens, 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 Lykens helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the median home price here is $50,650, with the 25th percentile tax bill at $1,126 and the 75th percentile at $2,390. The highest and lowest median tax bills, both at $1,566, are found in the 17048 zip code.
Average Lykens Assessed Value
$50,650
Average Dauphin County Assessed Value
$99,700
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lykens, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17048 | $24,000 | $36,000 | $50,650 | $82,025 | $148,710 |
Source: Ownwell
Property Tax Bills Across Lykens, Pennsylvania
In Lykens, located in Dauphin County, 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 property tax rate to determine the annual tax bill. The median home price in Lykens is $50,650, and the property tax rate in Dauphin County significantly impacts homeowners. For instance, the tax bill at the 25th percentile is $1,126, while at the 75th percentile, it rises to $2,390. Those at the 90th percentile see a tax bill of $4,194. This range shows the variability in tax bills due to differences in property values and assessments. Compared to the national median property tax rate of 0.99%, Dauphin County's rates can be quite substantial for some homeowners, affecting their overall financial planning and housing affordability. The highest and lowest median tax bills in the area both stand at $1,566 in the 17048 zip code, highlighting the consistency in tax assessments within this specific region.
Average Lykens Tax Bill
$1,566
Average Dauphin County Tax Bill
$3,037
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Lykens, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17048 | $750 | $1,126 | $1,566 | $2,390 | $4,194 |
Source: Ownwell