East Prospect, Pennsylvania Property Taxes
The median property tax rate in East Prospect, PA is 3.44%, substantially higher than both the national median of 0.99% and Pennsylvania's state median of 2.81%. With the median home value in East Prospect at $100,440, the typical annual property tax bill reaches $3,450, significantly exceeding the national median of $2,690. Property taxes in East Prospect are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding East Prospect'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 East Prospect or another part of York County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
East Prospect, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.44%
Estimate Property Tax Bill
$3,455
Ownwell’s East Prospect Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, or potential buyers to estimate their annual property taxes in East Prospect with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in East Prospect 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 East Prospect, Pennsylvania
Property taxes in East Prospect, Pennsylvania, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in East Prospect is 3.44%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within East Prospect set these rates annually, and they can vary significantly across different neighborhoods. Each year, East Prospect 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. Understanding how these cities compare with East Prospect provides valuable insights into the varying tax landscape across York County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average East Prospect Tax Rate
3.44%
Average York County Tax Rate
3.29%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across East Prospect, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17317 | 3.43% | 3.43% | 3.44% | 3.44% | 3.44% |
Source: Ownwell
Property Tax Assessment Values Across East Prospect, Pennsylvania
In East Prospect, 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 York 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 East Prospect, 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 East Prospect helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median property tax bill in East Prospect is $3,450, with the highest and lowest tax bills also recorded at $3,450 in zip code 17317. This contrasts with the national median property tax rate of 0.99%.
Property Tax Assessment Values Across East Prospect, Pennsylvania
Source: Ownwell
$38,185
$150,108
$262,030
Average East Prospect Assessed Value
$100,440
Average York County Assessed Value
$130,990
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across East Prospect, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17317 | $77,898 | $90,840 | $100,440 | $118,420 | $127,554 |
Source: Ownwell
Property Tax Bills Across East Prospect, Pennsylvania
In East Prospect, PA, located in York County, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local tax assessor and is a percentage of the market value of the property. For instance, with a median home price of $100,440, homeowners can expect their tax bill to fall within a range depending on various factors including property location and specific assessment practices. The property tax rate in East Prospect significantly impacts homeowners. For example, the tax bill for the 25th percentile is $3,120, while it rises to $4,068 for the 75th percentile and reaches $4,381 for the 90th percentile. These figures indicate that property taxes can vary widely even within the same area. Compared to the national median property tax rate of 0.99%, the tax bills in East Prospect highlight a substantial financial commitment for homeowners, influencing both monthly budgets and long-term financial planning. Understanding these factors is crucial for homeowners aiming to manage their expenses effectively.
Average East Prospect Tax Bill
$3,450
Average York County Tax Bill
$4,203
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across East Prospect, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17317 | $2,676 | $3,120 | $3,450 | $4,068 | $4,381 |
Source: Ownwell