Monroe Township, Pennsylvania Property Taxes
The median property tax rate in Monroe Township, PA is 5.74%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Monroe Township, the typical annual property tax bill reaches $2,809, exceeding the national median of $2,690. Property taxes in Monroe Township 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 Monroe Township'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 Monroe Township 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
Monroe Township, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
5.74%
Estimate Property Tax Bill
$2,801
-$29,350
Ownwell’s Monroe Township Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Monroe Township with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Monroe Township 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 Monroe Township, Pennsylvania
Property taxes in Monroe Township, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Monroe Township is 5.74%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Monroe Township set these rates annually, and they can vary across different neighborhoods. Each year, Monroe Township 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 Monroe Township's effective property tax rate to other areas in Pennsylvania and the national median. For comparison, the zip code 18657 has the highest median property tax rate of 5.74%, while the zip code 18618 has the lowest median tax rate of 5.74%. Understanding how these areas compare with Monroe Township 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 Monroe Township Tax Rate
5.74%
Average Wyoming County Tax Rate
5.74%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Monroe Township, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18612 | 5.74% | 5.74% | 5.74% | 5.74% | 5.74% |
| 18618 | 5.74% | 5.74% | 5.74% | 5.74% | 5.74% |
| 18636 | 5.74% | 5.74% | 5.74% | 5.74% | 5.74% |
| 18657 | 5.74% | 5.74% | 5.74% | 5.74% | 5.74% |
Source: Ownwell
Property Tax Assessment Values Across Monroe Township, Pennsylvania
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Monroe Township, Pennsylvania. 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 local 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 Monroe Township, 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. The highest median tax bill in Monroe Township is $3,153 in the 18636 zip code, while the lowest median tax bill is $2,007 in the 18612 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 Monroe Township, Pennsylvania
Source: Ownwell
$25,290
$48,695
$72,100
Average Monroe Township Assessed Value
$48,790
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 Monroe Township, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18612 | $4,620 | $12,290 | $34,950 | $57,835 | $79,105 |
| 18618 | $27,074 | $38,278 | $51,560 | $66,600 | $90,757 |
| 18636 | $28,500 | $40,600 | $54,500 | $70,180 | $87,202 |
| 18657 | $10,252 | $29,505 | $48,280 | $66,320 | $85,348 |
Source: Ownwell
Property Tax Bills Across Monroe Township, Pennsylvania
In Monroe Township, Wyoming County, PA, property tax bills are calculated based on the assessed value of a property, which is determined by local tax assessors. The assessed value is a percentage of the property's market value, reflecting its worth in the current real estate market. Homeowners in Monroe Township typically see tax bills that vary widely, with the 25th percentile tax bill at $1,826 and the 75th percentile reaching $3,810. The median home price in the area stands at $48,790, which influences these tax rates significantly. Several factors contribute to the final tax bill, including property size, location, and any improvements made to the property. Additionally, local tax rates and any applicable exemptions or deductions play a crucial role. Compared to the national median property tax rate of 0.99%, Monroe Township's tax rates can be relatively high or low depending on specific circumstances. This variability in tax bills affects homeowners by impacting their annual financial obligations and potentially influencing property values in the long term.
Average Monroe Township Tax Bill
$2,809
Average Wyoming County Tax Bill
$2,930
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Monroe Township, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18612 | $265 | $706 | $2,007 | $3,321 | $4,543 |
| 18618 | $1,555 | $2,198 | $2,961 | $3,824 | $5,212 |
| 18636 | $1,674 | $2,355 | $3,153 | $4,051 | $5,038 |
| 18657 | $601 | $1,708 | $2,773 | $3,809 | $4,903 |
Source: Ownwell