Lampeter, Pennsylvania Property Taxes
The median property tax rate in Lampeter, PA is 2.13%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Lampeter, the typical annual property tax bill reaches $4,228, exceeding the national median of $2,690. Property taxes in Lampeter 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 Lampeter'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 Lampeter 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
Lampeter, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.13%
Estimate Property Tax Bill
$4,226
-$44,288
Ownwell’s Lampeter Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lampeter with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lampeter 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 Lampeter, Pennsylvania
Property taxes in Lampeter, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lampeter is 2.13%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Lampeter set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lampeter 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 Lampeter's effective property tax rate to other areas in Pennsylvania and the national median. For comparison, the zip code 17537 has the highest median property tax rate of 2.13%, while the same zip code also has the lowest median tax rate of 2.13%. Understanding how these areas compare with Lampeter 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 Lampeter Tax Rate
2.13%
Average Lancaster County Tax Rate
2.13%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lampeter, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17537 | 2.13% | 2.13% | 2.13% | 2.13% | 2.13% |
Source: Ownwell
Property Tax Assessment Values Across Lampeter, Pennsylvania
In Lampeter, 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 Lancaster County 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 Lampeter, 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 median home price in Lampeter is $198,400, with tax bills ranging widely. For instance, the 25th percentile tax bill is $3,386, while the 75th percentile reaches $5,129, and the 90th percentile hits $5,810. The zip code 17537 has both the highest and lowest median tax bill at $4,228. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Lampeter Assessed Value
$198,400
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 Lampeter, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17537 | $144,680 | $158,900 | $198,400 | $240,700 | $272,660 |
Source: Ownwell
Property Tax Bills Across Lampeter, Pennsylvania
In Lampeter, Lancaster County, PA, property tax bills are determined by assessing the market value of a home and applying the local tax rate to this value. The assessed value is a percentage of the market value, which is then multiplied by the local tax rate to calculate the annual tax bill. For instance, with a median home price of $198,400, homeowners can expect varying tax bills depending on their property's assessed value. Factors such as property improvements, neighborhood developments, and changes in the local tax rate can influence the assessed value and thus the tax bill. The 25th percentile tax bill is around $3,386, while the 75th percentile reaches $5,129, and the 90th percentile can go up to $5,810. These figures indicate a range of tax burdens that homeowners may face, potentially impacting their financial planning and overall cost of homeownership. Compared to the national median property tax rate of 0.99%, Lampeter's tax bills reflect the unique economic landscape of Lancaster County.
Average Lampeter Tax Bill
$4,228
Average Lancaster County Tax Bill
$3,883
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Lampeter, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17537 | $3,083 | $3,386 | $4,228 | $5,129 | $5,810 |
Source: Ownwell