Wycombe, Pennsylvania Property Taxes
The median property tax rate in Wycombe, PA is 1.59%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Wycombe at $426,383, the typical annual property tax bill reaches $6,779, exceeding the national median of $2,690. Property taxes in Wycombe 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 Wycombe'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 Wycombe 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
Wycombe, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.59%
Estimate Property Tax Bill
$6,779
Ownwell’s Wycombe Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wycombe with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wycombe 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 Wycombe, Pennsylvania
Property taxes in Wycombe, Pennsylvania are crucial for funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Wycombe is 1.59%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Wycombe set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wycombe 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 Wycombe's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the zip code 18980 has the highest median property tax rate of 1.59%, while the same zip code also has the lowest median tax rate of 1.59%. Understanding how these cities compare with Wycombe provides valuable insights into the varying tax landscape across Bucks County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wycombe Tax Rate
1.59%
Average Bucks County Tax Rate
1.91%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wycombe, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18980 | 1.48% | 1.59% | 1.59% | 1.59% | 1.59% |
Source: Ownwell
Property Tax Assessment Values Across Wycombe, Pennsylvania
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Wycombe, 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 Bucks 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 Wycombe, 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. The median home price in Wycombe is $426,383, with tax bills ranging from $5,244 at the 25th percentile to $12,122 at the 90th percentile. The zip code 18980 has the highest and lowest median tax bill at $6,779. By understanding these valuation concepts, property owners can navigate their tax responsibilities better and identify opportunities for protesting assessments or applying for exemptions to manage their tax burden effectively.
Average Wycombe Assessed Value
$426,383
Average Bucks County Assessed Value
$300,000
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wycombe, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18980 | $201,362 | $329,787 | $426,383 | $555,319 | $762,383 |
Source: Ownwell
Property Tax Bills Across Wycombe, Pennsylvania
In Wycombe, located in Bucks County, PA, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For example, with a median home price of $426,383, homeowners can expect varying tax bills depending on specific assessments and rates. Several factors influence the tax bill, including the property's location, size, and condition. In Wycombe, the tax bill for the 25th percentile is $5,244, while those in the 75th percentile can expect to pay around $8,829. At the 90th percentile, tax bills can reach $12,122. The highest and lowest median tax bills in the area are both $6,779, indicating a relatively consistent tax environment within the zip code 18980. These property tax bills significantly impact homeowners, as they represent a substantial annual expense. Comparing this to the national median property tax rate of 0.99%, Wycombe's rates reflect the local economic conditions and public service funding requirements.
Average Wycombe Tax Bill
$6,779
Average Bucks County Tax Bill
$5,548
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Wycombe, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18980 | $2,977 | $5,244 | $6,779 | $8,829 | $12,122 |
Source: Ownwell