Wilmington, Pennsylvania Property Taxes
The median property tax rate in Wilmington, PA is 3.66%, significantly higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Wilmington at $302,260, the typical annual property tax bill reaches $11,032, far exceeding the national median of $2,690. Property taxes in Wilmington 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 Wilmington'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 Wilmington 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
Wilmington, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.66%
Estimate Property Tax Bill
$11,063
Ownwell’s Wilmington Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wilmington with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wilmington 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 Wilmington, Pennsylvania
Property taxes in Wilmington, Pennsylvania, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wilmington is 3.66%, significantly higher than the U.S. national median of 0.99%. Local government entities within Wilmington set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wilmington 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 Wilmington's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 19807 zip code has both the highest and lowest median property tax rate of 3.66%. Understanding how these cities compare with Wilmington 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 Wilmington Tax Rate
3.66%
Average Chester County Tax Rate
3.50%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wilmington, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19807 | 3.63% | 3.64% | 3.66% | 3.68% | 3.68% |
Source: Ownwell
Property Tax Assessment Values Across Wilmington, Pennsylvania
In Wilmington, 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 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 Wilmington, 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 Wilmington helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 19807 has both the highest and lowest median tax bill, recorded at $11,032.
Property Tax Assessment Values Across Wilmington, Pennsylvania
Source: Ownwell
$17,490
$208,860
$400,230
Average Wilmington Assessed Value
$302,260
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 Wilmington, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19807 | $242,715 | $276,938 | $302,260 | $445,702 | $692,541 |
Source: Ownwell
Property Tax Bills Across Wilmington, Pennsylvania
In Wilmington, property tax bills are calculated based on the assessed value of a property, which is determined by local assessors. This assessed value is then multiplied by the local tax rate, which varies within different areas of Chester County. Homeowners in Wilmington face a median property tax bill significantly higher than the national median rate of 0.99%. For instance, the tax bill at the 25th percentile is $10,183, while at the 75th percentile, it rises to $16,190. For those in the 90th percentile, tax bills can reach up to $25,204. Several factors influence these tax bills, including the property's assessed value, local tax rates, and any applicable exemptions or deductions. High property taxes can impact homeowners by increasing the overall cost of homeownership, potentially affecting affordability and the local real estate market. The highest and lowest median tax bills in Wilmington are both recorded at $11,032 in the 19807 zip code. This indicates a relatively consistent tax burden within this specific area, despite variations in property values.
Average Wilmington Tax Bill
$11,032
Average Chester County Tax Bill
$6,037
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Wilmington, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19807 | $8,925 | $10,183 | $11,032 | $16,190 | $25,204 |
Source: Ownwell