Wampum, Pennsylvania Property Taxes
The median property tax rate in Wampum, PA is 2.61%, notably higher than both the national median of 0.99% and Pennsylvania's state median of 2.81%. With the median home value in Wampum at $59,150, the typical annual property tax bill reaches $1,602, surpassing the national median of $2,690. Property taxes in Wampum are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Wampum'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 Wampum or another part of Lawrence County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Wampum, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.61%
Estimate Property Tax Bill
$1,544
Ownwell’s Wampum Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wampum with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wampum 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 Wampum, Pennsylvania
Property taxes in Wampum, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wampum is 2.61%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Wampum set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wampum 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 Wampum's effective property tax rate to other areas in Lawrence County and the national median. For comparison, the 16157 zip code has the highest median property tax rate of 2.61%, while the same zip code also has the lowest median tax rate of 2.61%. Understanding how these areas compare with Wampum provides valuable insights into the varying tax landscape across Lawrence County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wampum Tax Rate
2.61%
Average Lawrence County Tax Rate
2.91%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wampum, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16157 | 2.47% | 2.47% | 2.61% | 2.75% | 3.03% |
Source: Ownwell
Property Tax Assessment Values Across Wampum, Pennsylvania
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Wampum, PA. 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 Lawrence 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 Wampum, 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. For example, the highest median tax bill in Wampum is $1602 in the 16157 zip code, while the lowest is also $1602 in the same zip code. Median home prices in the area are around $59,150, with annual tax bills ranging from $1,101 at the 25th percentile to $3,734 at the 90th percentile. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Wampum Assessed Value
$59,150
Average Lawrence County Assessed Value
$65,300
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wampum, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16157 | $17,340 | $39,900 | $59,150 | $97,575 | $144,020 |
Source: Ownwell
Property Tax Bills Across Wampum, Pennsylvania
In Wampum, located in Lawrence County, PA, property tax bills are calculated based on the assessed value of a home, which is determined by local government assessors. The assessed value is a percentage of the property's market value. Homeowners in Wampum can expect their property tax bills to vary significantly depending on the assessed value of their homes. For instance, the median home price in Wampum is $59,150. For a more granular perspective, the 25th percentile tax bill is $1,101, while the 75th percentile tax bill reaches $2,557. At the 90th percentile, homeowners might see tax bills as high as $3,734. The highest and lowest median tax bills in the area are both $1,602, specifically in the 16157 zip code. These tax bills play a crucial role in the financial planning of homeowners, impacting their overall cost of living. Compared to the national median property tax rate of 0.99%, Wampum's property tax rates can be considered relatively moderate, providing a balanced approach to funding local services and infrastructure.
Average Wampum Tax Bill
$1,602
Average Lawrence County Tax Bill
$2,023
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Wampum, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16157 | $512 | $1,101 | $1,602 | $2,557 | $3,734 |
Source: Ownwell