Lancaster, Pennsylvania Property Taxes
The median property tax rate in Lancaster, PA is 2.14%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Lancaster, the typical annual property tax bill reaches $3,911, exceeding the national median of $2,690. Property taxes in Lancaster 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 Lancaster'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 Lancaster 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
Lancaster, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.14%
Estimate Property Tax Bill
$3,486
-$36,534
Ownwell’s Lancaster Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lancaster with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lancaster 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 Lancaster, Pennsylvania
Property taxes in Lancaster, PA, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lancaster is 2.14%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Lancaster set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lancaster 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 Lancaster's effective property tax rate to other areas in Pennsylvania and the national median. For comparison, the 17602 zip code has the highest median property tax rate of 2.65%, while the 17601 zip code has the lowest median tax rate of 2.07%. Understanding how these areas compare with Lancaster 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 Lancaster Tax Rate
2.14%
Average Lancaster County Tax Rate
2.13%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lancaster, Pennsylvania
Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
17551 | 2.62% | 2.62% | 2.62% | 2.62% | 2.62% |
17601 | 2.06% | 2.06% | 2.07% | 2.07% | 2.07% |
17602 | 1.93% | 2.13% | 2.65% | 3.73% | 3.73% |
17603 | 2.14% | 2.14% | 2.65% | 3.73% | 3.73% |
Source: Ownwell
Property Tax Assessment Values Across Lancaster, Pennsylvania
In Lancaster, 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 Lancaster, 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 Lancaster helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest median tax bill is found in zip code 17551 at $7,004, while the lowest is in zip code 17602 at $3,708.
Average Lancaster Assessed Value
$162,900
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 Lancaster, Pennsylvania
Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
17551 | $267,000 | $267,000 | $267,000 | $267,000 | $267,000 |
17601 | $133,010 | $165,700 | $204,700 | $280,600 | $367,690 |
17602 | $60,800 | $88,800 | $135,100 | $206,300 | $282,800 |
17603 | $55,900 | $90,850 | $135,600 | $185,700 | $266,960 |
Source: Ownwell
Property Tax Bills Across Lancaster, Pennsylvania
In Lancaster, PA, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as the property's location within the county, its size, and its market value influence the assessed value. For instance, homes in zip code 17551 have the highest median tax bill at $7,004, while those in zip code 17602 have the lowest at $3,708. Homeowners in Lancaster can expect their property tax bills to vary widely. The 25th percentile tax bill is $2,996, while the 75th percentile is $5,245, and the 90th percentile reaches $7,170. Compared to the national median property tax rate of 0.99%, Lancaster's property tax rates can be considerably high, especially for homes with higher assessed values. This variation significantly impacts homeowners, influencing their overall cost of living and financial planning.
Average Lancaster Tax Bill
$3,911
Average Lancaster County Tax Bill
$3,883
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Lancaster, Pennsylvania
Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
17551 | $7,004 | $7,004 | $7,004 | $7,004 | $7,004 |
17601 | $2,751 | $3,439 | $4,274 | $5,781 | $7,585 |
17602 | $2,127 | $2,718 | $3,708 | $4,981 | $6,536 |
17603 | $2,020 | $2,841 | $3,725 | $4,955 | $6,932 |
Source: Ownwell