Bausman, Pennsylvania Property Taxes
The median property tax rate in Bausman, PA is 2.65%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Bausman at $125,300, the typical annual property tax bill reaches $3,340, exceeding the national median of $2,690. Property taxes in Bausman are calculated based on the assessed value, which typically falls below the market value due to various exemptions, including primary residence and agricultural exemptions. Understanding Bausman'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 Bausman 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
Bausman, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.65%
Estimate Property Tax Bill
$3,320
-$34,798
Ownwell’s Bausman Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bausman with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bausman 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 Bausman, Pennsylvania
Property taxes in Bausman, Pennsylvania, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Bausman is 2.65%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Bausman set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bausman 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 Bausman's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 17504 zip code has the highest median property tax rate of 2.65%, while the same zip code also has the lowest median tax rate of 2.65%. Understanding how these cities compare with Bausman 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 Bausman Tax Rate
2.65%
Average Lancaster County Tax Rate
2.13%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bausman, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17504 | 2.65% | 2.65% | 2.65% | 2.65% | 2.65% |
Source: Ownwell
Property Tax Assessment Values Across Bausman, Pennsylvania
In Bausman, 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 Bausman, 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 Bausman helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $3,340, found in zip code 17504.
Average Bausman Assessed Value
$125,300
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 Bausman, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17504 | $103,080 | $111,550 | $125,300 | $137,325 | $155,050 |
Source: Ownwell
Property Tax Bills Across Bausman, Pennsylvania
In Bausman, Lancaster County, PA, property tax bills are determined based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to calculate the annual tax bill. For homeowners in Bausman, the median home price is $125,300, and property tax bills can vary significantly. At the 25th percentile, tax bills are around $2,989, while at the 75th percentile, they rise to $3,638. For those in the 90th percentile, tax bills can reach up to $4,108. These property taxes fund essential community services such as public schools, infrastructure, and emergency services. Homeowners in Lancaster County face a median tax bill of $3,340, which is considerably higher than the national median property tax rate of 0.99%. This higher tax rate can impact affordability and the overall cost of homeownership, making it crucial for homeowners to understand how their property taxes are calculated and managed.
Average Bausman Tax Bill
$3,340
Average Lancaster County Tax Bill
$3,883
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Bausman, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17504 | $2,870 | $2,989 | $3,340 | $3,638 | $4,108 |
Source: Ownwell