Myerstown, Lebanon County, Pennsylvania Property Taxes
The median property tax rate in Myerstown, PA is 2.03%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Myerstown, the typical annual property tax bill reaches $3,532, exceeding the national median of $2,690. Property taxes in Myerstown 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 Myerstown'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 Myerstown 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
Myerstown, Lebanon County, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.03%
Estimate Property Tax Bill
$3,433
$3,185
Ownwell’s Myerstown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Myerstown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Myerstown 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 Myerstown, Lebanon County, Pennsylvania
Property taxes in Myerstown, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Myerstown is 2.03%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Myerstown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Myerstown 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 Myerstown's effective property tax rate to other areas in Pennsylvania and the national median. For comparison, the zip code 17067 has the highest median property tax rate of 2.03%, while the same zip code also has the lowest median tax rate of 2.03%. Understanding how these cities compare with Myerstown provides valuable insights into the varying tax landscape across Lebanon County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Myerstown Tax Rate
2.03%
Average Lebanon County Tax Rate
2.19%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Myerstown, Lebanon County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17067 | 2.03% | 2.03% | 2.03% | 2.08% | 2.34% |
Source: Ownwell
Property Tax Assessment Values Across Myerstown, Lebanon County, Pennsylvania
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Myerstown, Pennsylvania. 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 Lebanon 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 Myerstown, 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. For instance, the highest and lowest median tax bills in Myerstown are both $3,532, found in the 17067 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Myerstown, Lebanon County, Pennsylvania
Source: Ownwell
$81,364
$241,606
$401,847
Average Myerstown Assessed Value
$169,096
Average Lebanon County Assessed Value
$159,855
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Myerstown, Lebanon County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17067 | $112,628 | $137,628 | $169,096 | $226,436 | $347,946 |
Source: Ownwell
Property Tax Bills Across Myerstown, Lebanon County, Pennsylvania
In Myerstown, PA, property tax bills are calculated based on the assessed value of a home, which is determined by local government assessors. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For homeowners in Myerstown, the median home price is $169,096. The tax bills can vary significantly, with the 25th percentile at $2,895 and the 75th percentile at $4,620. At the higher end, the 90th percentile tax bill reaches $7,020. Factors influencing these variations include property size, location, and any improvements made to the property. In comparison to the national median property tax rate of 0.99%, homeowners in Myerstown may experience different financial impacts based on these assessments. Understanding how these factors play into the overall tax bill can help homeowners better anticipate their annual expenses and budget accordingly. The highest and lowest median tax bills in the area are both $3,532, which indicates a relatively stable tax environment within the specific zip code of 17067.
Average Myerstown Tax Bill
$3,532
Average Lebanon County Tax Bill
$3,511
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Myerstown, Lebanon County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17067 | $2,413 | $2,895 | $3,532 | $4,620 | $7,020 |
Source: Ownwell