Laceyville, Pennsylvania Property Taxes
The median property tax rate in Laceyville, PA is 5.16%, significantly higher than both the national median of 0.99% and Pennsylvania's state median of 2.81%. With the median home value in Laceyville at $38,985, the typical annual property tax bill reaches $2,310, which is close to the national median of $2,690. Property taxes in Laceyville 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 Laceyville'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 Laceyville 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
Laceyville, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
5.16%
Estimate Property Tax Bill
$2,012
-$21,082
Ownwell’s Laceyville Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Laceyville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Laceyville 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 Laceyville, Pennsylvania
Property taxes in Laceyville, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Laceyville is 5.16%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Laceyville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Laceyville 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 Laceyville's effective property tax rate to other regions in Pennsylvania and the national median. For comparison, the zip code 18623 has the highest median property tax rate of 5.16%, while the same zip code also has the lowest median tax rate of 5.16%. Understanding how these areas compare with Laceyville 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 Laceyville Tax Rate
5.16%
Average Wyoming County Tax Rate
5.74%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Laceyville, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18623 | 5.09% | 5.09% | 5.16% | 5.56% | 6.12% |
Source: Ownwell
Property Tax Assessment Values Across Laceyville, Pennsylvania
In Laceyville, 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 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 Laceyville, 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 Laceyville is $38,985, with tax bills ranging from $1,408 at the 25th percentile to $5,019 at the 90th percentile. The highest and lowest median tax bills are both $2,310 in zip code 18623. Being aware of these valuation processes in Laceyville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Laceyville Assessed Value
$38,985
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 Laceyville, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18623 | $5,366 | $21,910 | $38,985 | $61,060 | $93,261 |
Source: Ownwell
Property Tax Bills Across Laceyville, Pennsylvania
In Laceyville, Pennsylvania, property tax bills are calculated based on the assessed value of a property, which is determined by the local tax assessor. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Laceyville, the median home price is $38,985. The property tax rate in Pennsylvania varies by county, but the median property tax rate nationally is 0.99%. Several factors affect the tax bill, including property size, location, and any improvements made to the property. For instance, in Wyoming County, where Laceyville is located, the tax bill for the 25th percentile is $1,408, while the 75th percentile reaches $3,462. At the 90th percentile, homeowners face a tax bill of $5,019. The highest and lowest median tax bills in the area are both recorded at $2,310 in the zip code 18623. These property taxes significantly impact homeowners by influencing their overall housing costs and potentially affecting their ability to finance other expenses.
Average Laceyville Tax Bill
$2,310
Average Wyoming County Tax Bill
$2,930
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Laceyville, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18623 | $801 | $1,408 | $2,310 | $3,462 | $5,019 |
Source: Ownwell