Pocono Summit, Pennsylvania Property Taxes
The median property tax rate in Pocono Summit, PA is 0.73%, which is lower than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Pocono Summit, the typical annual property tax bill reaches $781, significantly below the national median of $2,690. Property taxes in Pocono Summit are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Pocono Summit'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 Pocono Summit or another part of Monroe County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Pocono Summit, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.73%
Estimate Property Tax Bill
$794
-$8,318
Ownwell’s Pocono Summit Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pocono Summit with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pocono Summit 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 Pocono Summit, Pennsylvania
Property taxes in Pocono Summit, Pennsylvania, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pocono Summit is 0.73%, lower than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Pocono Summit set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pocono Summit 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 Pocono Summit's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 18346 zip code has the highest median property tax rate of 0.73%, while the 18346 zip code also has the lowest median tax rate of 0.73%. Understanding how these cities compare with Pocono Summit 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 areas.
Average Pocono Summit Tax Rate
0.73%
Average Monroe County Tax Rate
0.59%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pocono Summit, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18346 | 0.52% | 0.52% | 0.73% | 0.73% | 2.55% |
Source: Ownwell
Property Tax Assessment Values Across Pocono Summit, Pennsylvania
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Pocono Summit, Monroe County, PA. 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 county 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 Pocono Summit, 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. For example, the median home price in Pocono Summit is $108,725, with property tax bills ranging from $569 at the 25th percentile to $2,081 at the 90th percentile. The zip code 18346 has both the highest and lowest median tax bill, which is $781. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Pocono Summit, Pennsylvania
Source: Ownwell
$70,390
$620,630
$1,170,870
Average Pocono Summit Assessed Value
$108,725
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 Pocono Summit, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18346 | $68,962 | $84,290 | $108,725 | $139,465 | $174,559 |
Source: Ownwell
Property Tax Bills Across Pocono Summit, Pennsylvania
In Pocono Summit, Monroe County, PA, property tax bills are calculated based on the assessed value of a home, which is determined by local government assessors. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For a median home price of $108,725, homeowners can expect their property tax bill to vary significantly. The 25th percentile tax bill is around $569, while the 75th percentile tax bill reaches approximately $1102, and the 90th percentile can go up to $2081. Factors such as the property's location, size, and condition, as well as any applicable exemptions or abatements, can influence the assessed value. Compared to the national median property tax rate of 0.99%, the tax rates in Pocono Summit can be relatively moderate but still vary widely. These property taxes fund essential local services, including schools, public safety, and infrastructure, directly impacting homeowners by contributing to community development and overall quality of life.
Average Pocono Summit Tax Bill
$781
Average Monroe County Tax Bill
$814
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Pocono Summit, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18346 | $444 | $569 | $781 | $1,102 | $2,081 |
Source: Ownwell