Lake Como, Wayne County, Pennsylvania Property Taxes
Median Lake Como, PA effective property tax rate: 2.31%, significantly higher than the national median of 1.02%, but lower than the Pennsylvania state median of 2.81%.
Median Lake Como, PA home value: $181,000
Median annual Lake Como, PA tax bill: $4,183, $1,783 higher than the national median property tax bill of $2,400.
How are property taxes in Wayne County calculated?
Property taxes in Lake Como, PA are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Lake Como’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Lake Como, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Lake Como, Wayne County, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.72%
Estimate Property Tax Bill
$3,273
$3,037
Property Tax Rates Across Lake Como, Wayne County, Pennsylvania
Local government entities set property tax rates, which can vary significantly within a state. This is because each county annually estimates its budgetary needs to provide essential services and then divides that by the total value of all taxable property within its boundaries. This calculation establishes the property tax rate. While votes and laws play a role in setting these rates and budgets, this is the core of the annual process.
In Lake Como, located in Wayne County, Pennsylvania, the effective property tax rate is notably higher compared to the national median. This reflects the county's financial requirements and property values. In fact, Lake Como's rate is among the highest in the state, highlighting the variation in property tax rates even within Pennsylvania. Comparing Lake Como to other cities in the state and the national median offers insight into how local tax rates are influenced by regional economic conditions and the specific needs of the community. Understanding these dynamics can help property owners anticipate their tax obligations and explore potential savings through appeals or exemptions.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Lake Como Tax Rate
1.72%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Wayne County Tax Rate
1.63%
Median Effective Pennsylvania Tax Rate
2.75%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Lake Como, Wayne County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18437 | 1.72% | 1.72% | 1.72% | 1.73% | 1.73% |
Source: Ownwell
Property Tax Assessment Values Across Lake Como, Wayne County, Pennsylvania
When examining property taxes in Lake Como, PA, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Wayne County assessment office estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Wayne County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of March. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Lake Como. For example, the median home price in Lake Como is $181,000, with tax bills ranging significantly across the county. Zip code 18437 has the highest median home price at $181,000.
Property Tax Assessment Values Across Lake Como, Wayne County, Pennsylvania
Source: Ownwell
$6,400
$150,800
$295,200
Median Lake Como Market Value
$190,300
Median Wayne County Market Value
$182,100
Median Pennsylvania Market Value
$118,310
Median United States Market Value
$235,294
Property Tax Assessment Values Across Lake Como, Wayne County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18437 | $64,740 | $119,300 | $190,300 | $280,000 | $391,900 |
Source: Ownwell
Property Tax Bills Across Lake Como, Wayne County, Pennsylvania
Median Lake Como Tax Bill
$3,284
Median Wayne County Tax Bill
$3,056
Median Pennsylvania Tax Bill
$3,050
Median United States Tax Bill
$2,400
Property Tax Bills Across Lake Como, Wayne County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18437 | $1,148 | $2,059 | $3,284 | $4,829 | $6,759 |
Source: Ownwell