Wilmot Township, Pennsylvania Property Taxes
The median property tax rate in Wilmot Township, PA is 2.42%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Wilmot Township at $84,009, the typical annual property tax bill reaches $2,046, which is below the national median of $2,690. Property taxes in Wilmot Township 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 Wilmot Township'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 Wilmot Township 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
Wilmot Township, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.42%
Estimate Property Tax Bill
$2,033
Ownwell’s Wilmot Township Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wilmot Township with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wilmot Township 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 Wilmot Township, Pennsylvania
Property taxes in Wilmot Township, Pennsylvania, are essential in funding important local services such as public schools, road maintenance, and emergency services. The median tax rate in Wilmot Township is 2.42%, significantly higher than the U.S. national median of 0.99%. Local government entities within Wilmot Township set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wilmot Township 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 Wilmot Township's effective property tax rate to other areas and the national median. For comparison, the zip code 18614 has the same median property tax rate of 2.42%, highlighting a uniformity in tax rates within Bradford County. Understanding how these areas compare with Wilmot Township provides valuable insights into the varying tax landscape across Bradford County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wilmot Township Tax Rate
2.42%
Average Bradford County Tax Rate
3.22%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wilmot Township, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18614 | 0.84% | 1.82% | 2.42% | 2.77% | 3.30% |
Source: Ownwell
Property Tax Assessment Values Across Wilmot Township, Pennsylvania
In Wilmot Township, 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 local 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 Wilmot Township, 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 Wilmot Township helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in the area is $84,009, with tax bills ranging from $1,163 at the 25th percentile to $4,512 at the 90th percentile. Notably, the highest and lowest median tax bills are both $2,046 in zip code 18614.
Property Tax Assessment Values Across Wilmot Township, Pennsylvania
Source: Ownwell
$16,000
$54,241
$92,481
Average Wilmot Township Assessed Value
$84,009
Average Bradford County Assessed Value
$61,590
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wilmot Township, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18614 | $34,435 | $63,062 | $84,009 | $139,128 | $230,011 |
Source: Ownwell
Property Tax Bills Across Wilmot Township, Pennsylvania
In Wilmot Township, PA, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Homeowners in Wilmot Township experience a range of tax bills, with the 25th percentile paying around $1,163 and the 75th percentile facing bills up to $3,967. The highest tax bills reach approximately $4,512, indicating significant variability depending on property values. Factors influencing these tax bills include the market value of the home, the local tax rate, and any applicable exemptions or deductions. For instance, the median home price in Wilmot Township is $84,009, which directly impacts the calculation of the tax bill. Compared to the national median property tax rate of 0.99%, Wilmot Township's rates can result in varying financial impacts on homeowners, influencing their overall cost of living and potentially affecting decisions related to property investments and homeownership.
Average Wilmot Township Tax Bill
$2,046
Average Bradford County Tax Bill
$1,935
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Wilmot Township, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18614 | $562 | $1,163 | $2,046 | $3,967 | $4,512 |
Source: Ownwell