Gun Barrel City, Pennsylvania Property Taxes
The median property tax rate in Gun Barrel City, PA is 2.47%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Gun Barrel City at $153,500, the typical annual property tax bill reaches $3,788, exceeding the national median of $2,690. Property taxes in Gun Barrel City 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 Gun Barrel City'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 Gun Barrel City 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
Gun Barrel City, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.47%
Estimate Property Tax Bill
$3,791
-$39,734
Ownwell’s Gun Barrel City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gun Barrel City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gun Barrel City 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 Gun Barrel City, Pennsylvania
Property taxes in Gun Barrel City, Pennsylvania, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gun Barrel City is 2.47%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Gun Barrel City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gun Barrel City 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 Gun Barrel City's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the zip code 75156 has the highest median property tax rate of 2.47%, while the same zip code also has the lowest median tax rate of 2.47%. Understanding how these cities compare with Gun Barrel City 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 Gun Barrel City Tax Rate
2.47%
Average Lancaster County Tax Rate
2.13%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gun Barrel City, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75156 | 2.47% | 2.47% | 2.47% | 2.47% | 2.47% |
Source: Ownwell
Property Tax Assessment Values Across Gun Barrel City, Pennsylvania
In Gun Barrel City, 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 local appraisal district 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 Gun Barrel City, 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 Gun Barrel City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Gun Barrel City are both $3,788, found in the 75156 zip code.
Property Tax Assessment Values Across Gun Barrel City, Pennsylvania
Source: Ownwell
$50,000
$197,950
$345,900
Average Gun Barrel City Assessed Value
$153,500
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 Gun Barrel City, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75156 | $153,500 | $153,500 | $153,500 | $153,500 | $153,500 |
Source: Ownwell
Property Tax Bills Across Gun Barrel City, Pennsylvania
In Gun Barrel City, located in Lancaster County, PA, property tax bills are determined based on the assessed value of a home. The median home price in this area is $153,500. To calculate the property tax, the local tax rate is applied to the assessed value of the property. This tax rate can vary depending on local government budgets and needs. For homeowners in Gun Barrel City, the property tax bill typically falls around $3,788, which is significantly higher than the national median property tax rate of 0.99%. This consistent tax bill, regardless of the home's value percentile, suggests a relatively uniform tax rate application across properties. Factors such as local school funding, infrastructure, and public services heavily influence these tax rates. Consequently, homeowners need to budget for these taxes as part of their annual expenses, which can impact their overall financial planning and home affordability. Understanding these factors can help homeowners anticipate and manage their property tax obligations more effectively.
Average Gun Barrel City Tax Bill
$3,788
Average Lancaster County Tax Bill
$3,883
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Gun Barrel City, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75156 | $3,788 | $3,788 | $3,788 | $3,788 | $3,788 |
Source: Ownwell