Holtwood, Pennsylvania Property Taxes
The median property tax rate in Holtwood, PA is 2.09%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Holtwood, the typical annual property tax bill reaches $3,816, exceeding the national median of $2,690. Property taxes in Holtwood 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 Holtwood'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 Holtwood or another part of Lancaster County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Holtwood, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.09%
Estimate Property Tax Bill
$3,946
-$41,353
Ownwell’s Holtwood Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Holtwood with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Holtwood 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 Holtwood, Pennsylvania
Property taxes in Holtwood, PA, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Holtwood is 1.49%, which is higher than both the Pennsylvania state median of 1.39% and the U.S. national median of 0.99%. Local government entities within Holtwood set these rates annually, and they can vary significantly across different neighborhoods. Each year, Holtwood 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 Holtwood's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 17532 zip code has the highest median property tax rate of 1.49%, while the same zip code also has the lowest median tax rate of 1.49%. Understanding how these cities compare with Holtwood 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 Holtwood Tax Rate
2.09%
Average Lancaster County Tax Rate
2.13%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Holtwood, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17532 | 1.51% | 2.09% | 2.09% | 2.09% | 2.09% |
Source: Ownwell
Property Tax Assessment Values Across Holtwood, Pennsylvania
In Holtwood, 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 Holtwood, 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 Holtwood helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Holtwood is $188,800, with tax bills ranging from $2,945 at the 25th percentile to $6,232 at the 90th percentile.
Average Holtwood Assessed Value
$188,800
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 Holtwood, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17532 | $73,210 | $151,025 | $188,800 | $240,175 | $310,740 |
Source: Ownwell
Property Tax Bills Across Holtwood, Pennsylvania
In Holtwood, located in Lancaster County, PA, property tax bills are determined based on the assessed value of a home. The assessed value is a percentage of the market value, which is set by the county's assessment office. Homeowners in Holtwood face a range of property tax bills, with the 25th percentile at $2,945 and the 75th percentile at $4,859, indicating significant variability based on property value and location. The highest median tax bill in the area is $3,816, found in the 17532 zip code. Several factors influence the final tax bill, including the property's assessed value, local tax rates, and any applicable exemptions or abatements. These taxes fund essential public services, such as schools, infrastructure, and emergency services, directly affecting homeowners by contributing to community quality and property value stability. Compared to the national median property tax rate of 0.99%, Holtwood's property tax rates can be seen as relatively moderate, though individual bills can vary widely based on the specific assessed value and applicable tax rates.
Average Holtwood Tax Bill
$3,816
Average Lancaster County Tax Bill
$3,883
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Holtwood, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17532 | $1,427 | $2,945 | $3,816 | $4,859 | $6,232 |
Source: Ownwell