Taxes (real estate) Q: What can I expect to pay in annual real estate taxes on a home in Northeastern Pennsylvania?
The amount you pay in annual real estate taxes will of course vary depending on the size, condition and purchase price of the home, as well as, the municipality where the home is located. The following ranges will give you a rough idea of the amounts you can expect to pay: • $750 to $1,500 – older home, probably located on small lot in established neighborhood. • $1,500 to $2,500 – newer split-level, bi-level or large ranch, probably on decent-size lot (1/4 to 1/2 acre) • $2,500 to $4,000 – modern four-bedroom home (2,000 to 2,500 square feet) on 1/2 to 3/4 acre • $4,000+ – executive level, large home on large suburban lot, 4+ bedrooms Be advised that Lackawanna County has not undertaken a countywide reassessment since 1968. The County uses a “common-level ratio” formula to determine real estate tax assessments. Many area residents have appealed and been successful in lowering their initial real estate tax assessment after acquiring or building a new home.
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