Harveys Lake, Pennsylvania Property Taxes
The median property tax rate in Harveys Lake, PA is 5.54%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Harveys Lake at $58,905, the typical annual property tax bill reaches $3,275, exceeding the national median of $2,690. Property taxes in Harveys Lake 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 Harveys Lake'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 Harveys Lake 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
Harveys Lake, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
5.54%
Estimate Property Tax Bill
$3,263
-$34,200
Ownwell’s Harveys Lake Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Harveys Lake with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Harveys Lake 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 Harveys Lake, Pennsylvania
Property taxes in Harveys Lake, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Harveys Lake is 5.54%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Harveys Lake set these rates annually, and they can vary significantly across different neighborhoods. Each year, Harveys Lake 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 Harveys Lake's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 18618 zip code has the highest median property tax rate of 5.54%, while the same zip code also has the lowest median tax rate of 5.54%. Understanding how these cities compare with Harveys Lake provides valuable insights into the varying tax landscape across Wyoming County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Harveys Lake Tax Rate
5.54%
Average Wyoming County Tax Rate
5.74%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Harveys Lake, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18618 | 5.54% | 5.54% | 5.54% | 5.54% | 5.54% |
Source: Ownwell
Property Tax Assessment Values Across Harveys Lake, Pennsylvania
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Harveys Lake, 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 Wyoming 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 Harveys Lake, 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 highest median tax bill in Harveys Lake is $3,275 in the 18618 zip code. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Harveys Lake, Pennsylvania
Source: Ownwell
$25,290
$48,695
$72,100
Average Harveys Lake Assessed Value
$58,905
Average Wyoming County Assessed Value
$49,130
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Harveys Lake, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18618 | $26,107 | $42,565 | $58,905 | $83,745 | $99,752 |
Source: Ownwell
Property Tax Bills Across Harveys Lake, Pennsylvania
In Harveys Lake, property tax bills are calculated based on the assessed value of a home, which is determined by local authorities. This assessed value is then multiplied by the property tax rate set by the county. Homeowners in Wyoming County, PA, where Harveys Lake is located, experience varying tax bills depending on their property's assessed value. For instance, the median home price in Harveys Lake is $58,905. Tax bills can range significantly, with the 25th percentile at $2,362 and the 75th percentile reaching $4,552. The highest median tax bill in the area is $3,275, found in the 18618 zip code. Factors such as property size, location, and market conditions play a crucial role in determining the assessed value, which in turn affects the tax bill. Compared to the national median property tax rate of 0.99%, Harveys Lake homeowners may find their tax bills relatively high. Understanding these factors can help homeowners better anticipate their annual property tax obligations and plan their finances accordingly.
Average Harveys Lake Tax Bill
$3,275
Average Wyoming County Tax Bill
$2,930
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Harveys Lake, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18618 | $1,650 | $2,362 | $3,275 | $4,552 | $5,536 |
Source: Ownwell