Hop Bottom, Pennsylvania Property Taxes
The median property tax rate in Hop Bottom, PA is 2.89%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Hop Bottom at $35,200, the typical annual property tax bill reaches $1,018, exceeding the national median of $2,690. Property taxes in Hop Bottom 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 Hop Bottom'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 Hop Bottom or another part of Susquehanna County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hop Bottom, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.89%
Estimate Property Tax Bill
$1,017
Ownwell’s HOP BOTTOM Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in HOP BOTTOM with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in HOP BOTTOM 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 Hop Bottom, Pennsylvania
Property taxes in Hop Bottom, Pennsylvania, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hop Bottom is 2.89%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Hop Bottom set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hop Bottom 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 Hop Bottom's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 18824 zip code has the highest median property tax rate of 2.89%, while the 18824 zip code also has the lowest median tax rate of 2.89%. Understanding how these cities compare with Hop Bottom provides valuable insights into the varying tax landscape across Susquehanna County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hop Bottom Tax Rate
2.89%
Average Susquehanna County Tax Rate
3.31%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hop Bottom, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18824 | 2.88% | 2.88% | 2.89% | 2.89% | 3.21% |
Source: Ownwell
Property Tax Assessment Values Across Hop Bottom, Pennsylvania
In Hop Bottom, 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 Susquehanna 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 Hop Bottom, 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 Hop Bottom helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bill in the region is $1018, found in the 18824 zip code.
Average Hop Bottom Assessed Value
$35,200
Average Susquehanna County Assessed Value
$40,400
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hop Bottom, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18824 | $10,000 | $18,100 | $35,200 | $53,400 | $91,680 |
Source: Ownwell
Property Tax Bills Across Hop Bottom, Pennsylvania
In HOP BOTTOM, located in Susquehanna County, PA, property tax bills are calculated based on the assessed value of a property and the applicable tax rate. The assessed value is determined by local assessors who evaluate the property's market value. Homeowners in this region experience property tax bills that vary significantly, reflecting the diverse property values. For instance, the median home price in HOP BOTTOM is $35,200. The tax bill for homeowners in the 25th percentile is approximately $554, while those in the 75th percentile pay around $1,556. At the 90th percentile, property tax bills can reach up to $2,646. Comparatively, the median property tax bill in the area stands at $1,018, which is higher than the national median property tax rate of 0.99%. These factors collectively influence the financial obligations of homeowners, impacting their annual budgets and long-term financial planning. Understanding these components is crucial for homeowners to manage their expenses effectively.
Average Hop Bottom Tax Bill
$1,018
Average Susquehanna County Tax Bill
$1,338
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Hop Bottom, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18824 | $315 | $554 | $1,018 | $1,556 | $2,646 |
Source: Ownwell