Morgantown, Pennsylvania Property Taxes
The median property tax rate in Morgantown, PA is 3.92%, significantly higher than both the national median of 0.99% and Pennsylvania's state median of 2.81%. With a median home value of $151,700 in Morgantown, the typical annual property tax bill reaches $5,892, far exceeding the national median of $2,690. Property taxes in Morgantown are calculated based on the tax assessed value, which is often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Morgantown'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 Morgantown or another part of Berks County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Morgantown, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.92%
Estimate Property Tax Bill
$5,947
Ownwell’s Morgantown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Morgantown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Morgantown 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 Morgantown, Pennsylvania
Property taxes in Morgantown, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Morgantown is 3.92%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Morgantown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Morgantown 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 Morgantown's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 19543 zip code has the highest median property tax rate of 3.92%, while the same zip code also has the lowest median tax rate of 3.92%. Understanding how these cities compare with Morgantown 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 Morgantown Tax Rate
3.92%
Average Berks County Tax Rate
4.37%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Morgantown, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19543 | 3.92% | 3.92% | 3.92% | 3.99% | 3.99% |
Source: Ownwell
Property Tax Assessment Values Across Morgantown, Pennsylvania
In Morgantown, 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 Appraisal District 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 Morgantown, 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 Morgantown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Berks County, the zip code 19543 has the highest median tax bill at $5,892.
Property Tax Assessment Values Across Morgantown, Pennsylvania
Source: Ownwell
$21,200
$200,375
$379,550
Average Morgantown Assessed Value
$151,700
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 Morgantown, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19543 | $88,060 | $104,800 | $151,700 | $198,650 | $244,132 |
Source: Ownwell
Property Tax Bills Across Morgantown, Pennsylvania
In Morgantown, located in Berks County, PA, property tax bills are determined by assessing the market value of a home and applying the local tax rate. The median home price in Morgantown is $151,700. To calculate the tax bill, the assessed value of the property is multiplied by the local tax rate. For example, homeowners in the 25th percentile can expect a tax bill around $4,104, while those in the 75th percentile might see a bill closer to $7,719. Factors influencing the tax bill include the property's assessed value, which is influenced by market conditions and any improvements made to the property. Compared to the national median property tax rate of 0.99%, Morgantown's rates can be higher, impacting homeowners by increasing their annual financial obligations. The highest and lowest median tax bills in the region both stand at $5,892, indicating a consistent tax rate across different areas within Morgantown. This consistency helps homeowners anticipate their annual tax responsibilities.
Average Morgantown Tax Bill
$5,892
Average Berks County Tax Bill
$4,153
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Morgantown, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19543 | $3,459 | $4,104 | $5,892 | $7,719 | $9,562 |
Source: Ownwell