Line Lexington, Pennsylvania Property Taxes
The median property tax rate in Line Lexington, PA is 4.33%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Line Lexington at $89,885, the typical annual property tax bill reaches $3,862, exceeding the national median of $2,690. Property taxes in Line Lexington 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 Line Lexington'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 Line Lexington 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
Line Lexington, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
4.33%
Estimate Property Tax Bill
$3,892
Ownwell’s Line Lexington Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Line Lexington with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Line Lexington 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 Line Lexington, Pennsylvania
Property taxes in Line Lexington, Pennsylvania, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Line Lexington is 4.33%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Line Lexington set these rates annually, and they can vary significantly across different neighborhoods. Each year, Line Lexington 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 Line Lexington's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 18932 zip code has the highest median property tax rate of 4.33%, while the 18932 zip code also has the lowest median tax rate of 4.33%. Understanding how these cities compare with Line Lexington provides valuable insights into the varying tax landscape across Montgomery County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Line Lexington Tax Rate
4.33%
Average Montgomery County Tax Rate
3.94%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Line Lexington, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18932 | 3.93% | 4.08% | 4.33% | 4.58% | 4.73% |
Source: Ownwell
Property Tax Assessment Values Across Line Lexington, Pennsylvania
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Line Lexington, 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 Montgomery 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 Line Lexington, 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. The median home price in the area is $89,885, with the highest median tax bill being $3,862 in zip code 18932. 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 Line Lexington, Pennsylvania
Source: Ownwell
$33,380
$293,475
$553,570
Average Line Lexington Assessed Value
$89,885
Average Montgomery County Assessed Value
$143,105
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Line Lexington, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18932 | $84,857 | $86,742 | $89,885 | $93,028 | $94,913 |
Source: Ownwell
Property Tax Bills Across Line Lexington, Pennsylvania
In Line Lexington, Montgomery County, PA, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county and represents a percentage of the market value of the property. Homeowners in this area face a median property tax rate of 0.99%, which is on par with the national median. Several factors influence the final tax bill, including property size, location, and any applicable exemptions or deductions. The median home price in Line Lexington is $89,885, leading to a significant tax burden for homeowners. For instance, the tax bill at the 25th percentile is $3,773, while it climbs to $3,950 at the 75th percentile and $4,003 at the 90th percentile. This tax structure affects homeowners by directly impacting their annual expenses, making it crucial to understand the assessed value and available exemptions to potentially lower the tax burden. The highest and lowest median tax bills in the area both stand at $3,862, reflecting the uniformity in property tax assessments within the zip code 18932.
Average Line Lexington Tax Bill
$3,862
Average Montgomery County Tax Bill
$5,764
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Line Lexington, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18932 | $3,720 | $3,773 | $3,862 | $3,950 | $4,003 |
Source: Ownwell