Tamiment, Pennsylvania Property Taxes
The median property tax rate in Tamiment, PA is 3.98%, significantly higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With a median home value of $135,379 in Tamiment, the typical annual property tax bill reaches $5,383, far exceeding the national median of $2,690. Property taxes in Tamiment are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Tamiment'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 Tamiment or another part of Pike County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Tamiment, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.98%
Estimate Property Tax Bill
$5,388
Ownwell’s Tamiment Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tamiment with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tamiment 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 Tamiment, Pennsylvania
Property taxes in Tamiment, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Tamiment is 3.98%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Tamiment set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tamiment 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 Tamiment's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 18371 zip code has the highest median property tax rate of 3.98%, while the same zip code also has the lowest median tax rate of 3.98%. Understanding how these cities compare with Tamiment provides valuable insights into the varying tax landscape across Pike County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Tamiment Tax Rate
3.98%
Average Pike County Tax Rate
3.72%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tamiment, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18371 | 3.98% | 3.98% | 3.98% | 3.98% | 3.98% |
Source: Ownwell
Property Tax Assessment Values Across Tamiment, Pennsylvania
In Tamiment, 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 Pike 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 Tamiment, 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 zip code with the highest median tax bill in Tamiment is 18371, with a median bill of $5,383. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Tamiment Assessed Value
$135,379
Average Pike County Assessed Value
$106,483
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Tamiment, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18371 | $90,680 | $114,015 | $135,379 | $157,246 | $183,840 |
Source: Ownwell
Property Tax Bills Across Tamiment, Pennsylvania
Property tax bills in Tamiment, located in Pike County, PA, are determined based on the assessed value of a property and the local tax rate. The assessed value is a percentage of the property's market value, which is calculated by local assessors. This value is then multiplied by the local property tax rate to determine the annual tax bill. In Tamiment, the median home price is $135,379. Homeowners in this area can expect to pay a median property tax bill of approximately $5,383. However, tax bills can vary significantly, with the 25th percentile at $4,534 and the 75th percentile at $6,253. For those at the higher end, the 90th percentile tax bill reaches $7,300. These property taxes fund essential local services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, homeowners in Tamiment may find their tax rates to be on the higher side, impacting their overall cost of living.
Average Tamiment Tax Bill
$5,383
Average Pike County Tax Bill
$3,676
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Tamiment, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18371 | $3,606 | $4,534 | $5,383 | $6,253 | $7,300 |
Source: Ownwell