Akron, Pennsylvania Property Taxes
The median property tax rate in Akron, PA is 2.36%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Akron, the typical annual property tax bill reaches $3,810, exceeding the national median of $2,690. Property taxes in Akron 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 Akron'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 Akron 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
Akron, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.36%
Estimate Property Tax Bill
$3,892
-$40,784
Ownwell’s Akron Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Akron with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Akron 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 Akron, Pennsylvania
Property taxes in Akron, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Akron is 2.36%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Akron set these rates annually, and they can vary significantly across different neighborhoods. Each year, Akron 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 Akron's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the zip code 17501 has both the highest and lowest median property tax rate of 2.36%. Understanding how these cities compare with Akron provides valuable insights into the varying tax landscape across Lancaster County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Akron Tax Rate
2.36%
Average Lancaster County Tax Rate
2.13%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Akron, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17501 | 1.87% | 2.36% | 2.36% | 2.36% | 2.36% |
Source: Ownwell
Property Tax Assessment Values Across Akron, Pennsylvania
In Akron, 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 Lancaster 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 Akron, 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 Akron helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Akron are both $3810, found in the 17501 zip code.
Average Akron Assessed Value
$164,900
Average Lancaster County Assessed Value
$177,300
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Akron, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17501 | $99,980 | $141,250 | $164,900 | $195,625 | $230,960 |
Source: Ownwell
Property Tax Bills Across Akron, Pennsylvania
In Akron, Lancaster County, PA, property tax bills are determined by assessing the market value of a home and applying the local tax rate to this value. The median home price in Akron is $164,900, and the property tax rate is a key factor in calculating the final bill. Homeowners in Akron can expect their property tax bills to vary significantly depending on the assessed value of their property and the specific tax rate applied by the county. For example, the 25th percentile tax bill is $3,190, while the 75th percentile tax bill reaches $4,528, and the 90th percentile tax bill can go up to $5,355. These figures illustrate the range of property tax obligations that homeowners might face. Compared to the national median property tax rate of 0.99%, Akron’s property tax rates can be relatively high, which impacts the overall affordability and cost of homeownership in the area. This variability in tax bills underscores the importance of understanding local tax assessments and their implications for homeowners.
Average Akron Tax Bill
$3,810
Average Lancaster County Tax Bill
$3,883
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Akron, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17501 | $2,251 | $3,190 | $3,810 | $4,528 | $5,355 |
Source: Ownwell