Amish Paradise? Lancaster #1 For Fastest-Growing Property Taxes

Thinking about trading in your Tesla for a buggy? Hold your horses for just a minute, Ezekiel. 🐴

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Recent figures on US metro areas with the fastest-growing property taxes put good ol' Lancaster, PA in the number one spot. Researchers say home values in the area are on rise due to a shortage of housing inventory plus an uptick in millennial homebuyers. Apparently farm-to-table avocado toast hits different. 🥑🧑‍🌾

Here’s Five Fast Facts on the Lancaster metro market:

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1. 🚀 Quite The Leap - Lancaster's average property taxes in 2021 were $5,507. That's a 29.2% increase from 2020's average of $4,260. 
2. 🦘 Jumpin' Jehoshaphat - Average home prices in Lancaster jumped from $250,000 in April 2020 to almost $290,000 in April 2022.
3. 🏫 Take A Hike - The pandemic halted tax hikes for most local areas. However, according to LancasterOnline, school districts are proposing tax hikes for the upcoming 2022-2023 budget.
4. 📈 Above Average - The average tax on single-family homes in the U.S. rose by 1.8% in 2021 compared to the year before, making the increase in Lancaster...quite YUGE.
5. 👀 You're The Only Ten I See - Rounding out the top three biggest property tax increases are Nashville, Tennessee (#2 with a 27.0% increase) and Knoxville, Tennessee (#3 with a 22.2% increase).

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🔥Bottom line: Lancaster county is a slice of Pennsylvania heaven. Peaceful land and a ton of activities make it a great place for growing families to settle down. Will there be any more tax hikes coming down the buggy path? If so, we'll blame those millennials. 😛

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