Talmage, Pennsylvania Property Taxes
The median property tax rate in Talmage, PA is 1.87%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Talmage at $157,800, the typical annual property tax bill reaches $2,943, exceeding the national median of $2,690. Property taxes in Talmage 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 Talmage'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 Talmage 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
Talmage, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.87%
Estimate Property Tax Bill
$2,951
-$30,925
Ownwell’s Talmage Property Tax Bill Calculator enables homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Talmage with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Talmage to provide an estimated property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in more localized trends, additional neighborhood-level information is available below. Your property’s assessed value is determined by Lancaster County for tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Talmage, Pennsylvania
Property taxes in Talmage, Pennsylvania, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Talmage is 1.87%, significantly higher than the U.S. national median of 0.99%. Local government entities within Talmage set these rates annually, and they can vary significantly across different neighborhoods. Each year, Talmage 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 Talmage's effective property tax rate to other areas in Pennsylvania and the national median. For comparison, the 17580 zip code has the highest median property tax rate of 1.87%, while the same zip code also has the lowest median tax rate of 1.87%. Understanding how these areas compare with Talmage 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 Talmage Tax Rate
1.87%
Average Lancaster County Tax Rate
2.13%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Talmage, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17580 | 1.87% | 1.87% | 1.87% | 1.87% | 1.87% |
Source: Ownwell
Property Tax Assessment Values Across Talmage, Pennsylvania
In Talmage, 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 Talmage, 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 Talmage helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 17580, with a median tax bill of $2,943.
Average Talmage Assessed Value
$157,800
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 Talmage, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17580 | $55,260 | $125,700 | $157,800 | $187,600 | $262,080 |
Source: Ownwell
Property Tax Bills Across Talmage, Pennsylvania
In Talmage, Lancaster County, PA, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. Homeowners in Talmage face varying tax bills depending on their property's assessed value and the specific tax rate applied. The median home price in Talmage is $157,800, and property tax bills can range significantly. At the 25th percentile, homeowners might pay around $2,344 annually, while those at the 75th percentile could see bills as high as $3,499. For the top 10% of properties, tax bills can reach up to $4,888. These figures illustrate the variability in property tax burdens within the area. Compared to the national median property tax rate of 0.99%, Talmage's tax rates can be considered relatively high, impacting homeowners' annual expenses. The highest and lowest median tax bills in the area both stand at $2,943, indicating some consistency in tax assessments within certain neighborhoods.
Average Talmage Tax Bill
$2,943
Average Lancaster County Tax Bill
$3,883
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Talmage, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17580 | $1,031 | $2,344 | $2,943 | $3,499 | $4,888 |
Source: Ownwell