Brandamore, Pennsylvania Property Taxes
The median property tax rate in Brandamore, PA is 4.82%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Brandamore, the typical annual property tax bill reaches $5,942, exceeding the national median of $2,690. Property taxes in Brandamore 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 Brandamore'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 Brandamore or another part of Chester County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Brandamore, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
4.82%
Estimate Property Tax Bill
$6,054
Ownwell’s Brandamore Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Brandamore with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Brandamore 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 Brandamore, Pennsylvania
Property taxes in Brandamore, Pennsylvania, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Brandamore is 4.82%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Brandamore set these rates annually, and they can vary significantly across different neighborhoods. Each year, Brandamore 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 Brandamore's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the zip code 19316 has both the highest and lowest median property tax rate of 4.82%. Understanding how these areas compare with Brandamore 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 Brandamore Tax Rate
4.82%
Average Chester County Tax Rate
3.50%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Brandamore, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19316 | 3.67% | 4.15% | 4.82% | 4.90% | 4.95% |
Source: Ownwell
Property Tax Assessment Values Across Brandamore, Pennsylvania
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Brandamore, 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 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 Brandamore, 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. For example, the median home price in Brandamore is $125,600, with tax bills ranging from $5,440 at the 25th percentile to $7,316 at the 90th percentile. The zip code 19316 has both the highest and lowest median tax bill at $5,942. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Brandamore, Pennsylvania
Source: Ownwell
$17,490
$208,860
$400,230
Average Brandamore Assessed Value
$125,600
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 Brandamore, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19316 | $99,712 | $115,070 | $125,600 | $144,480 | $160,604 |
Source: Ownwell
Property Tax Bills Across Brandamore, Pennsylvania
In Brandamore, Chester County, PA, property tax bills are a significant financial consideration for homeowners. The tax bill is primarily determined by the assessed value of the property, which is established by the local tax assessor. This assessed value is then multiplied by the local tax rate to calculate the annual tax bill. For example, with a median home price of $125,600 in Brandamore, homeowners can expect varying tax bills based on their property's assessed value. At the 25th percentile, the tax bill is around $5,440, while at the 75th percentile, it rises to approximately $6,284. Those at the 90th percentile might see tax bills as high as $7,316. Compared to the national median property tax rate of 0.99%, Brandamore's property taxes are notably higher, reflecting the local rates and assessed values. This can significantly impact homeowners, influencing decisions on buying, selling, or investing in property within the area. Understanding these factors is crucial for managing financial expectations and planning accordingly.
Average Brandamore Tax Bill
$5,942
Average Chester County Tax Bill
$6,037
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Brandamore, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19316 | $4,041 | $5,440 | $5,942 | $6,284 | $7,316 |
Source: Ownwell