Lincoln University, Pennsylvania Property Taxes
The median property tax rate in Lincoln University, PA is 3.94%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Lincoln University, the typical annual property tax bill reaches $6,897, exceeding the national median of $2,690. Property taxes in Lincoln University 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 Lincoln University'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 Lincoln University or another part of Chester County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lincoln University, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.94%
Estimate Property Tax Bill
$7,058
Ownwell’s Lincoln University Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lincoln University with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lincoln University 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 Lincoln University, Pennsylvania
Property taxes in Lincoln University, Pennsylvania, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lincoln University is 3.94%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Lincoln University set these rates annually, and they can vary considerably across different neighborhoods. Each year, Lincoln University 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 Lincoln University's effective property tax rate to other areas in Pennsylvania and the national median. For comparison, the 19352 zip code has the highest median property tax rate of 3.94%, while the same zip code also has the lowest median tax rate of 3.94%. Understanding how these cities compare with Lincoln University provides valuable insights into the varying tax landscape across Chester County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lincoln University Tax Rate
3.94%
Average Chester County Tax Rate
3.50%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lincoln University, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19352 | 3.58% | 3.81% | 3.94% | 3.97% | 3.97% |
Source: Ownwell
Property Tax Assessment Values Across Lincoln University, Pennsylvania
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Lincoln University, PA. The market value represents the price a willing buyer would pay a willing seller in an open market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Chester 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 Lincoln University, 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. The median home price in Lincoln University is $179,140, with tax bills ranging from $5,748 at the 25th percentile to $9,850 at the 90th percentile. Notably, the zip code 19352 has both the highest and lowest median tax bill at $6,897. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Lincoln University, Pennsylvania
Source: Ownwell
$17,490
$208,860
$400,230
Average Lincoln University Assessed Value
$179,140
Average Chester County Assessed Value
$166,835
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lincoln University, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19352 | $116,150 | $148,455 | $179,140 | $219,320 | $256,650 |
Source: Ownwell
Property Tax Bills Across Lincoln University, Pennsylvania
In Lincoln University, Chester County, PA, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local tax assessor and is typically a percentage of the property's market value. Various factors such as the home's size, age, location, and any improvements made can influence this assessed value. Once the assessed value is established, it is multiplied by the local property tax rate to determine the annual tax bill. For homeowners in Lincoln University, the property tax can vary significantly. For instance, the tax bill at the 25th percentile is $5,748, while at the 75th percentile, it rises to $8,521. At the 90th percentile, it can reach up to $9,850. These figures highlight the impact of property taxes on homeowners, which can be a substantial part of their annual expenses. Compared to the national median property tax rate of 0.99%, the property tax bills in Lincoln University reflect the local economic conditions and property values, which can be higher than the national average.
Average Lincoln University Tax Bill
$6,897
Average Chester County Tax Bill
$6,037
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Lincoln University, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19352 | $4,476 | $5,748 | $6,897 | $8,521 | $9,850 |
Source: Ownwell