Hanover, Pennsylvania Property Taxes
The median property tax rate in Hanover, PA is 3.31%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Hanover, the typical annual property tax bill reaches $4,660, exceeding the national median of $2,690. Property taxes in Hanover 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 Hanover'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 Hanover 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
Hanover, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.31%
Estimate Property Tax Bill
$4,549
Ownwell’s Hanover Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Hanover with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Hanover to provide an accurate estimate of your property tax bill. This user-friendly tool offers a clear understanding of potential tax liabilities, helping you make informed decisions. For those interested in more granular insights, you can explore neighborhood-level trends further down the page. Your property’s assessed value, determined by the county, is crucial for these calculations and takes into account any applicable exemptions.
Property Tax Rates Across Hanover, Pennsylvania
Property taxes in Hanover, Pennsylvania, are essential for funding crucial local services, including public schools, road maintenance, and emergency services. The median tax rate in Hanover is 3.31%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Hanover set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hanover 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 Hanover's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 17331 zip code has the highest median property tax rate of 3.31%, while the same zip code also has the lowest median tax rate of 3.31%. Understanding how these areas compare with Hanover 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 Hanover Tax Rate
3.31%
Average York County Tax Rate
3.29%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hanover, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17331 | 3.28% | 3.31% | 3.31% | 3.60% | 3.61% |
Source: Ownwell
Property Tax Assessment Values Across Hanover, Pennsylvania
In Hanover, 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 Hanover, 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. Hanover has a median home price of $137,425, with tax bills ranging from $3,618 at the 25th percentile to $8,403 at the 90th percentile. The highest and lowest median tax bills are both $4,660, found in the 17331 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 in Hanover helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Hanover Assessed Value
$137,425
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 Hanover, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17331 | $83,637 | $105,090 | $137,425 | $177,425 | $252,952 |
Source: Ownwell
Property Tax Bills Across Hanover, Pennsylvania
Property tax bills in Hanover, York County, PA, are determined by assessing the value of a property and applying the local tax rate. The median home price in Hanover is $137,425, which is used as a basis for calculating property taxes. The local tax rate is applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including property size, location, and any applicable exemptions or deductions. In Hanover, the 25th percentile tax bill is $3,618, while the 75th percentile tax bill is $5,982, indicating a range based on property values and other factors. The 90th percentile tax bill can go as high as $8,403, reflecting higher-end properties. The median tax bill in Hanover is $4,660, aligning closely with the national median property tax rate of 0.99%. For homeowners, these taxes fund essential public services like schools, emergency services, and infrastructure, directly impacting community quality and property values.
Average Hanover Tax Bill
$4,660
Average York County Tax Bill
$4,203
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Hanover, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17331 | $2,890 | $3,618 | $4,660 | $5,982 | $8,403 |
Source: Ownwell