New Salem Borough, Pennsylvania Property Taxes
The median property tax rate in New Salem Borough, PA is 3.25%, significantly higher than both the national median of 0.99% and Pennsylvania's state median of 2.81%. With a median home value of $121,200 in New Salem Borough, the typical annual property tax bill reaches $3,938, far exceeding the national median of $2,690. Property taxes here are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding New Salem Borough'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 New Salem Borough 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
New Salem Borough, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.25%
Estimate Property Tax Bill
$3,939
Ownwell’s New Salem Borough Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in New Salem Borough with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in New Salem Borough 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 New Salem Borough, Pennsylvania
Property taxes in New Salem Borough, Pennsylvania, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in New Salem Borough is 2.89%, significantly higher than both the Pennsylvania state median of 1.58% and the U.S. national median of 0.99%. Local government entities within New Salem Borough set these rates annually, and they can vary significantly across different neighborhoods. Each year, New Salem Borough 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 New Salem Borough's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 42133 zip code has the highest median property tax rate of 2.89%, while the same 42133 zip code has the lowest median tax rate of 2.89%. Understanding how these cities compare with New Salem Borough 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 New Salem Borough Tax Rate
3.25%
Average York County Tax Rate
3.29%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across New Salem Borough, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17408 | 3.25% | 3.25% | 3.25% | 3.25% | 3.25% |
Source: Ownwell
Property Tax Assessment Values Across New Salem Borough, Pennsylvania
In New Salem Borough, 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 New Salem Borough, 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 New Salem Borough helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in New Salem Borough is $3,938 in the 17408 zip code, while the lowest median tax bill is also $3,938 in the same zip code.
Property Tax Assessment Values Across New Salem Borough, Pennsylvania
Source: Ownwell
$38,185
$150,108
$262,030
Average New Salem Borough Assessed Value
$121,200
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 New Salem Borough, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17408 | $108,344 | $113,165 | $121,200 | $126,940 | $130,384 |
Source: Ownwell
Property Tax Bills Across New Salem Borough, Pennsylvania
In New Salem Borough, York County, PA, property tax bills are determined based on the assessed value of a home. The assessed value is a percentage of the market value, which is then multiplied by the local tax rate to calculate the tax bill. Several factors influence this calculation, including property size, location, and improvements made to the property. For homeowners in New Salem Borough, the median home price is $121,200. The property tax bill can vary significantly, with the 25th percentile paying around $3,677, while those in the 75th and 90th percentiles pay approximately $4,125 and $4,236, respectively. This variance can impact homeowners' financial planning and budgeting, as property taxes are a significant annual expense. Comparatively, the national median property tax rate is 0.99%, which can help homeowners gauge how their local taxes stack up against the broader national landscape. Understanding these factors can help homeowners better anticipate their property tax obligations and manage their finances accordingly.
Average New Salem Borough Tax Bill
$3,938
Average York County Tax Bill
$4,203
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across New Salem Borough, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17408 | $3,520 | $3,677 | $3,938 | $4,125 | $4,236 |
Source: Ownwell