Bethany, Wayne County, Pennsylvania Property Taxes
The median property tax rate in Bethany, PA is 2.32%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Bethany at $192,600, the typical annual property tax bill reaches $4,450, exceeding the national median of $2,690. Property taxes in Bethany 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 Bethany'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 Bethany or another part of Wayne County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bethany, Wayne County, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.32%
Estimate Property Tax Bill
$4,468
$4,146
Ownwell’s Bethany Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bethany with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bethany 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 Bethany, Wayne County, Pennsylvania
Property taxes in Bethany, Pennsylvania, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bethany is 2.32%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Bethany set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bethany 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 Bethany's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the zip code 18431 has the highest median property tax rate of 2.32%, while the same zip code also has the lowest median tax rate of 2.32%. Understanding how these cities compare with Bethany provides valuable insights into the varying tax landscape across Wayne County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bethany Tax Rate
2.32%
Average Wayne County Tax Rate
2.19%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bethany, Wayne County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18431 | 2.32% | 2.32% | 2.32% | 2.32% | 2.32% |
Source: Ownwell
Property Tax Assessment Values Across Bethany, Wayne County, Pennsylvania
In Bethany, 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 Wayne 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 Bethany, 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 Bethany helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with both the highest and lowest median tax bill is 18431, with a median tax bill of $4,450.
Property Tax Assessment Values Across Bethany, Wayne County, Pennsylvania
Source: Ownwell
$7,000
$158,875
$310,750
Average Bethany Assessed Value
$192,600
Average Wayne County Assessed Value
$179,900
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bethany, Wayne County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18431 | $96,440 | $155,300 | $192,600 | $237,500 | $305,080 |
Source: Ownwell
Property Tax Bills Across Bethany, Wayne County, Pennsylvania
In Bethany, Wayne County, PA, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by local tax assessors who evaluate the property’s market value and apply an assessment ratio. The tax rate, or millage rate, is then applied to the assessed value to calculate the tax bill. Several factors influence the assessed value, including the property's location, size, and condition, as well as recent sales of comparable homes in the area. Homeowners in Bethany experience varying tax bills depending on their property’s assessed value and the specific millage rate set by local authorities. For instance, the median home price in Bethany is $192,600, resulting in a median tax bill of around $4,450, which is significantly higher than the national median property tax rate of 0.99%. This higher tax rate can impact homeowners by increasing their annual financial obligations, making it crucial for them to understand how their property is assessed and to explore potential exemptions or appeals if they believe their assessment is inaccurate.
Average Bethany Tax Bill
$4,450
Average Wayne County Tax Bill
$4,013
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Bethany, Wayne County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18431 | $2,233 | $3,596 | $4,450 | $5,485 | $6,969 |
Source: Ownwell