Honey Brook, Pennsylvania Property Taxes
The median property tax rate in Honey Brook, PA is 1.82%, significantly higher than both the national median of 0.99% and Pennsylvania's state median of 2.81%. With the median home value in Honey Brook at $187,350, the typical annual property tax bill reaches $3,396, exceeding the national median of $2,690. Property taxes in Honey Brook 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 Honey Brook'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 Honey Brook 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
Honey Brook, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.82%
Estimate Property Tax Bill
$3,410
-$35,734
Ownwell’s Honey Brook Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Honey Brook with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Honey Brook 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 Honey Brook, Pennsylvania
Property taxes in Honey Brook, Pennsylvania, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Honey Brook is 1.82%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Honey Brook set these rates annually, and they can vary significantly across different neighborhoods. Each year, Honey Brook 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 Honey Brook's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the zip code 19344 has both the highest and lowest median property tax rate of 1.82%. Understanding how these areas compare with Honey Brook 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 Honey Brook Tax Rate
1.82%
Average Lancaster County Tax Rate
2.13%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Honey Brook, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19344 | 1.58% | 1.82% | 1.82% | 1.82% | 1.82% |
Source: Ownwell
Property Tax Assessment Values Across Honey Brook, Pennsylvania
In Honey Brook, 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 Honey Brook, 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. For instance, the median home price in Honey Brook is $187,350, with the 25th percentile tax bill at $2,654 and the 75th percentile tax bill at $4,323. 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 Honey Brook helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Honey Brook, Pennsylvania
Source: Ownwell
$50,000
$197,950
$345,900
Average Honey Brook Assessed Value
$187,350
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 Honey Brook, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19344 | $102,400 | $143,925 | $187,350 | $253,525 | $292,500 |
Source: Ownwell
Property Tax Bills Across Honey Brook, Pennsylvania
In Honey Brook, Lancaster County, PA, property tax bills are calculated based on the assessed value of a home, which is determined by the county's assessment office. This assessed value is then multiplied by the local tax rate to generate the annual property tax bill. For instance, with a median home price of $187,350, homeowners can expect their tax bills to vary significantly. At the 25th percentile, the tax bill is around $2,654, while at the 75th percentile, it rises to $4,323. The top 10% of tax bills can reach up to $5,053. Several factors influence these calculations, including property size, location, and any improvements made to the property. Compared to the national median property tax rate of 0.99%, Honey Brook's tax rates can be relatively high, especially when considering the highest median tax bill in the area, which is $3,396 in the 19344 zip code. This can have a substantial impact on homeowners, affecting their annual budgets and long-term financial planning.
Average Honey Brook Tax Bill
$3,396
Average Lancaster County Tax Bill
$3,883
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Honey Brook, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19344 | $1,864 | $2,654 | $3,396 | $4,323 | $5,053 |
Source: Ownwell