Palmerton, Pennsylvania Property Taxes
The median property tax rate in Palmerton, PA is 0.38%, significantly lower than both the national median of 0.99% and Pennsylvania's state median of 2.81%. With a median home value of $201,570 in Palmerton, the typical annual property tax bill amounts to $797, which is well below the national median of $2,690. Property taxes in Palmerton are calculated based on the tax assessed value, which is often less than the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Palmerton's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Palmerton or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Palmerton, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.38%
Estimate Property Tax Bill
$766
Ownwell’s Palmerton Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Palmerton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Palmerton 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 Palmerton, Pennsylvania
Property taxes in Palmerton, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Palmerton is 0.38%, which is significantly lower than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Palmerton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Palmerton 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 Palmerton's effective property tax rate to other counties in Pennsylvania and the national median. Understanding how Palmerton's tax rates compare with other areas provides valuable insights into the varying tax landscape across Monroe County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring regions.
Average Palmerton Tax Rate
0.38%
Average Monroe County Tax Rate
0.59%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Palmerton, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18071 | 0.38% | 0.38% | 0.38% | 0.54% | 0.54% |
Source: Ownwell
Property Tax Assessment Values Across Palmerton, Pennsylvania
In Palmerton, 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 Monroe County Appraisal District 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 Palmerton, 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 Palmerton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Palmerton is $797 in the 18071 zip code, which is also the lowest median tax bill.
Property Tax Assessment Values Across Palmerton, Pennsylvania
Source: Ownwell
$70,390
$620,630
$1,170,870
Average Palmerton Assessed Value
$201,570
Average Monroe County Assessed Value
$134,550
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Palmerton, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18071 | $115,856 | $143,855 | $201,570 | $242,805 | $293,338 |
Source: Ownwell
Property Tax Bills Across Palmerton, Pennsylvania
In Palmerton, Monroe County, PA, property tax bills are determined based on the assessed value of a property, which is a percentage of its market value. The tax rate is applied to this assessed value to calculate the tax bill. Factors such as the property's location, size, and any improvements can influence the assessed value. For example, a median home price in Palmerton is $201,570. Homeowners in the area can expect tax bills to vary significantly. The 25th percentile tax bill is around $585, while the 75th percentile tax bill reaches $1,256, and the 90th percentile tax bill can be as high as $1,759. Comparatively, the national median property tax rate stands at 0.99%, making it crucial for homeowners to understand how their local rates and assessed values influence their tax obligations. Understanding these factors helps homeowners anticipate their annual tax responsibilities and plan their finances accordingly.
Average Palmerton Tax Bill
$797
Average Monroe County Tax Bill
$814
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Palmerton, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18071 | $470 | $585 | $797 | $1,256 | $1,759 |
Source: Ownwell