Wyomissing, Pennsylvania Property Taxes
The median property tax rate in Wyomissing, PA is 4.54%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Wyomissing at $76,050, the typical annual property tax bill reaches $3,448, exceeding the national median of $2,690. Property taxes in Wyomissing are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Wyomissing's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Wyomissing or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Wyomissing, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
4.54%
Estimate Property Tax Bill
$3,453
Ownwell’s Wyomissing Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wyomissing with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wyomissing to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Wyomissing, Pennsylvania
Property taxes in Wyomissing, Pennsylvania, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Wyomissing is 4.54%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Wyomissing set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wyomissing estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Wyomissing's effective property tax rate to other areas in Pennsylvania and the national median. For comparison, the 19610 zip code has the highest median property tax rate of 4.54%, while also having the lowest median tax rate of 4.54%. Understanding how these areas compare with Wyomissing provides valuable insights into the varying tax landscape across Berks County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wyomissing Tax Rate
4.54%
Average Berks County Tax Rate
4.37%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wyomissing, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19610 | 4.37% | 4.45% | 4.54% | 4.54% | 4.54% |
Source: Ownwell
Property Tax Assessment Values Across Wyomissing, Pennsylvania
In Wyomissing, Pennsylvania, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Berks County Assessment Office for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Wyomissing, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Wyomissing helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with both the highest and lowest median tax bill is 19610, with a median tax bill of $3,448.
Property Tax Assessment Values Across Wyomissing, Pennsylvania
Source: Ownwell
$21,200
$200,375
$379,550
Average Wyomissing Assessed Value
$76,050
Average Berks County Assessed Value
$97,000
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wyomissing, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19610 | $37,800 | $62,725 | $76,050 | $89,650 | $99,050 |
Source: Ownwell
Property Tax Bills Across Wyomissing, Pennsylvania
In Wyomissing, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the Berks County assessor's office, which evaluates the property's market value and applies an assessment ratio. Homeowners in Wyomissing face property tax bills that vary significantly depending on the value of their homes. For example, the median home price in Wyomissing is $76,050. Property tax bills range from the 25th percentile at $2,840 to the 75th percentile at $4,029, with the 90th percentile reaching up to $4,460. The highest and lowest median tax bills both stand at $3,448 in the 19610 zip code. These property taxes can have a considerable impact on homeowners, influencing their annual budgets and the overall affordability of their homes. With the national median property tax rate at 0.99%, Wyomissing's rates highlight the importance of understanding local tax obligations for financial planning.
Average Wyomissing Tax Bill
$3,448
Average Berks County Tax Bill
$4,153
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Wyomissing, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19610 | $1,652 | $2,840 | $3,448 | $4,029 | $4,460 |
Source: Ownwell