Hopeland, Pennsylvania Property Taxes
The median property tax rate in Hopeland, PA is 2.18%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Hopeland, the typical annual property tax bill reaches $3,112, exceeding the national median of $2,690. Property taxes in Hopeland 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 Hopeland'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 Hopeland 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
Hopeland, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.18%
Estimate Property Tax Bill
$3,112
-$32,613
Ownwell’s Hopeland Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hopeland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hopeland 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 Hopeland, Pennsylvania
Property taxes in Hopeland, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hopeland is 1.46%, higher than both the Pennsylvania state median of 1.35% and the U.S. national median of 0.99%. Local government entities within Hopeland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hopeland 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 Hopeland's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 17533 zip code has the highest median property tax rate of 1.46%, while the 17533 zip code has the lowest median tax rate of 1.46%. Understanding how these cities compare with Hopeland 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 Hopeland Tax Rate
2.18%
Average Lancaster County Tax Rate
2.13%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hopeland, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17533 | 2.18% | 2.18% | 2.18% | 2.18% | 2.18% |
Source: Ownwell
Property Tax Assessment Values Across Hopeland, Pennsylvania
In Hopeland, 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 Hopeland, 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. The highest median tax bill in Hopeland is $3,112 in zip code 17533, while the lowest is also $3,112 in the same zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Hopeland Assessed Value
$142,750
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 Hopeland, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17533 | $130,200 | $135,375 | $142,750 | $187,400 | $202,350 |
Source: Ownwell
Property Tax Bills Across Hopeland, Pennsylvania
In Hopeland, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For example, with a median home price of $142,750, homeowners in Hopeland can expect varying tax bills depending on their property’s assessed value and specific tax rate. The 25th percentile tax bill is around $2,951, while those in the 75th percentile pay approximately $4,086. At the 90th percentile, the tax bill can reach up to $4,411. These figures illustrate the range of property tax bills homeowners might encounter. Compared to the national median property tax rate of 0.99%, Hopeland’s rates can be quite impactful on household budgets. The highest and lowest median tax bills in the county are both $3,112, indicating a consistent tax burden across different areas. Understanding these factors helps homeowners anticipate their financial responsibilities and plan accordingly.
Average Hopeland Tax Bill
$3,112
Average Lancaster County Tax Bill
$3,883
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Hopeland, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17533 | $2,838 | $2,951 | $3,112 | $4,086 | $4,411 |
Source: Ownwell