Description of Indicator
This indicator depicts the tax rates (mills) for Lackawanna, Luzerne, and Wayne Counties. Millage rates are Pennsylvania’s property tax rates, and they are figured in mills. One mill is equal to 1/1,000 of a dollar. The millage is computed differently in each geography, so tax rates cannot be compared across counties.
Why is it important?
Property taxes form the foundation for local government. They represent a significant local revenue source for financing K–12 education, police and fire departments, parks, and other services. Property taxes can also shape local housing markets and influence the costs of buying, renting, or investing in homes and apartment buildings.
How is the region performing?
The three counties’ property tax rates vary significantly due to how and when properties in the counties were assessed. The ratios of assessed value for tax purposes to actual market value differ in each area. In Wayne County, a reassessment resulted in a higher assessed to actual value ratio. Furthermore, declining millage rates may not mean property tax bills will decrease. Additionally, tax rates in this report do not include school taxes, typically comprising the largest portions of all property owners’ tax bills.