Rheems, Lancaster County, Pennsylvania Property Taxes
The median property tax rate in Rheems, PA is 2.28%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Rheems, the typical annual property tax bill reaches $3,294, exceeding the national median of $2,690. Property taxes in Rheems 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 Rheems' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Rheems 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
Rheems, Lancaster County, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.28%
Estimate Property Tax Bill
$3,156
$2,928
Ownwell’s Rheems Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rheems with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rheems 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 Rheems, Lancaster County, Pennsylvania
Property taxes in Rheems, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Rheems is 2.28%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Rheems set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rheems 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 Rheems' effective property tax rate to other areas in Pennsylvania and the national median. For comparison, the zip code 17570 has the highest median property tax rate of 2.28%, while also having the lowest median tax rate of 2.28%. Understanding how these figures compare with Rheems 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 Rheems Tax Rate
2.28%
Average Lancaster County Tax Rate
2.13%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rheems, Lancaster County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17570 | 2.28% | 2.28% | 2.28% | 2.28% | 2.37% |
Source: Ownwell
Property Tax Assessment Values Across Rheems, Lancaster County, Pennsylvania
In Rheems, 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 Rheems, 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 Rheems helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 17570, for example, has the highest and lowest median tax bill at $3,294.
Property Tax Assessment Values Across Rheems, Lancaster County, Pennsylvania
Source: Ownwell
$118,800
$189,350
$259,900
Average Rheems Assessed Value
$138,400
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 Rheems, Lancaster County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17570 | $44,680 | $84,950 | $138,400 | $162,250 | $183,360 |
Source: Ownwell
Property Tax Bills Across Rheems, Lancaster County, Pennsylvania
In Rheems, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local tax assessor and is meant to reflect the market value of the property. Homeowners in Rheems, located in Lancaster County, typically see tax bills that vary based on several factors, including the assessed value and applicable tax rates. For instance, the median home price in Rheems is $138,400, and property tax bills range from $2,815 at the 25th percentile to $4,321 at the 90th percentile. The highest median tax bill in the area is $3,294, with the same value also being the lowest median tax bill, both in the 17570 zip code. These tax bills impact homeowners by contributing to their annual financial obligations, which can influence decisions on home purchases and ownership. Comparing this to the national median property tax rate of 0.99%, Rheems residents experience higher tax rates, reflecting the specific fiscal policies and public service funding needs of Lancaster County.
Average Rheems Tax Bill
$3,294
Average Lancaster County Tax Bill
$3,883
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Rheems, Lancaster County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17570 | $995 | $2,815 | $3,294 | $3,708 | $4,321 |
Source: Ownwell