Considering move to Lehigh Valley area: tax and insurance questions (Bethlehem: real estate, new home)

[bale002]

Dear All,

Great forum!

I am thinking of moving to the Lehigh Valley area, Bethlehem, Easton, etc. Price range for 3-bedroom housing up to $200,000.
I have some questions on taxes and insurance.
1) What is the best on-line source for understanding how property taxes are calculated in Pennsylvania and this particular area? Are they set by the county, the town, a combination of authorities? Is there a general rule of thumb for a quick approximate calculation based on purchase price, or does it vary too widely based on school district or other factors?

2) Also, I know the Pennsylvania state income tax is 3.07%. I have also seen that some towns also impose an income tax (around 1%). Is this the case with all towns in the state, or just some of them?

3) Is there a rule of thumb for estimating typical home owner's insurance, say structure, fire, and theft? Does the Lehigh Valley area pose any particular weather-related or flood risks?

Thank you in advance for any helpful answers.

[mathjak107]

in lower mcungie we looked at a new home in a 55 plus gated community , they told us figure about 2-3% of the purchase price as your approx taxes

[William shivers]

older homes are based on the assessed value, where as new homes are assessed at 100% so the taxes on new homes are usually higher!
Every area has it's own tax rate millage as they call it and it varies greatly. In some townships different blocks have different taxe rates!! unbelievable but true. as for insurance most companies base insurance not on the price you pay but on the cost to rebuild a home in case it was destroyed. So a 3000 sq ft home that is 100 years old and much cheaper than a new home both would have similar ins rates. most companies not all but if you get cheap ins and need them remember you get what you pay for!!!\
Get a good realtor is your first step and the most important.

[Bob_in_Allentown]

Willliam is right, get yourself a good Realtor, they can answer all of your Real Estate questions. Also, most Realtors are piad by the sellers so thier services are available at no cost to you the buyer. I would suggest that you interview two or three different agents and see who you are most comfortable with. A good agent will save you time and money.