Peach Bottom, Lancaster County, Pennsylvania Property Taxes
The median property tax rate in Peach Bottom, PA is 1.45%, considerably higher than the national median of 0.99%, yet lower than the Pennsylvania state median of 2.81%. With the median home value in Peach Bottom at $179,700, the typical annual property tax bill reaches $2,631, just below the national median of $2,690. Property taxes in Peach Bottom are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Peach Bottom'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 Peach Bottom 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
Peach Bottom, Lancaster County, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.45%
Estimate Property Tax Bill
$2,606
$2,418
Ownwell’s Peach Bottom Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Peach Bottom with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Peach Bottom 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 Peach Bottom, Lancaster County, Pennsylvania
Property taxes in Peach Bottom, PA, are essential for funding critical local services, including public schools, road maintenance, and emergency services. The median tax rate in Peach Bottom is 1.45%, which is significantly higher than the Pennsylvania state median of 1.35% and the U.S. national median of 0.99%. Local government entities within Peach Bottom set these rates annually, and they can vary across different neighborhoods. Each year, Peach Bottom estimates its required budget to maintain services for the upcoming fiscal year. This budget is then divided by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While laws and voter input influence tax rates and budgets, this calculation forms the foundation for setting property tax rates. The data below compares Peach Bottom's effective property tax rate to other areas in Lancaster County and the national median. For comparison, the zip code 17563 has the highest median property tax rate of 1.45%, while the same zip code also has the lowest median tax rate of 1.45%. Understanding how these figures compare with Peach Bottom 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.
Property Tax Rates Across Peach Bottom, Lancaster County, Pennsylvania
Source: Ownwell
1.45%
2.59%
3.74%
Average Peach Bottom Tax Rate
1.45%
Average Lancaster County Tax Rate
2.13%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Peach Bottom, Lancaster County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17563 | 1.45% | 1.45% | 1.45% | 1.45% | 1.51% |
Source: Ownwell
Property Tax Assessment Values Across Peach Bottom, Lancaster County, Pennsylvania
In Peach Bottom, 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 Peach Bottom, 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 Peach Bottom helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the highest median tax bill in the area is $2,631 in the 17563 zip code, which is also the lowest median tax bill. The 25th percentile tax bill is $1,914, while the 75th percentile tax bill is $3,414, and the 90th percentile tax bill reaches $4,369.
Property Tax Assessment Values Across Peach Bottom, Lancaster County, Pennsylvania
Source: Ownwell
$118,800
$189,350
$259,900
Average Peach Bottom Assessed Value
$179,700
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 Peach Bottom, Lancaster County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17563 | $59,540 | $131,300 | $179,700 | $235,500 | $301,940 |
Source: Ownwell
Property Tax Bills Across Peach Bottom, Lancaster County, Pennsylvania
In Peach Bottom, Lancaster County, PA, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Peach Bottom is $179,700. Local authorities determine the assessed value, which is then multiplied by the tax rate to calculate the annual property tax bill. For example, the median property tax bill in Peach Bottom is $2,631, which is significantly higher than the national median property tax rate of 0.99%. Homeowners in the 25th percentile pay around $1,914, while those in the 75th percentile face bills of approximately $3,414. The top 10% of homeowners encounter even steeper taxes, with bills reaching up to $4,369. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the quality of life in the community. Understanding these factors can help homeowners better anticipate their annual expenses and plan accordingly.
Property Tax Bills Across Peach Bottom, Lancaster County, Pennsylvania
Source: Ownwell
$2,365
$4,201
$6,036
Average Peach Bottom Tax Bill
$2,631
Average Lancaster County Tax Bill
$3,883
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Peach Bottom, Lancaster County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17563 | $893 | $1,914 | $2,631 | $3,414 | $4,369 |
Source: Ownwell