Morgantown, Chester County, Pennsylvania Property Taxes
The median property tax rate in Morgantown, PA is 3.75%, significantly higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Morgantown at $185,890, the typical annual property tax bill reaches $6,974, far exceeding the national median of $2,690. Property taxes in Morgantown are calculated based on the tax assessed value, which often falls below the market value due to various 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 Chester County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Morgantown, Chester County, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.75%
Estimate Property Tax Bill
$6,971
$6,469
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, Chester County, Pennsylvania
Property taxes in Morgantown, Pennsylvania, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Morgantown is 3.75%, 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 3.75%, while the same zip code also has the lowest median tax rate of 3.75%. Understanding how these cities compare with Morgantown 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 Morgantown Tax Rate
3.75%
Average Chester County Tax Rate
3.50%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Morgantown, Chester County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19543 | 3.62% | 3.75% | 3.75% | 3.75% | 3.75% |
Source: Ownwell
Property Tax Assessment Values Across Morgantown, Chester County, 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 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 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. The zip code with the highest and lowest median tax bill is 19543, with a median tax bill of $6,974.
Property Tax Assessment Values Across Morgantown, Chester County, Pennsylvania
Source: Ownwell
$74,035
$221,953
$369,870
Average Morgantown Assessed Value
$185,890
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 Morgantown, Chester County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19543 | $150,066 | $169,180 | $185,890 | $210,030 | $233,992 |
Source: Ownwell
Property Tax Bills Across Morgantown, Chester County, Pennsylvania
In Morgantown, located in Chester County, PA, property tax bills are calculated based on the assessed value of a home. The local tax authority determines this assessed value, which is often a percentage of the property's market value. For homeowners in Morgantown, the median home price stands at $185,890. Property tax rates are applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including the property's location within Chester County and the specific tax rate set by local government entities. Homeowners in Morgantown can expect their property tax bills to vary significantly. The 25th percentile tax bill is $6,347, while the 75th percentile tax bill reaches $7,758. For those at the higher end, the 90th percentile tax bill is $8,578. These property taxes significantly impact homeowners by contributing to local services such as schools, infrastructure, and emergency services, ensuring that the community remains well-maintained and supported.
Property Tax Bills Across Morgantown, Chester County, Pennsylvania
Source: Ownwell
$3,552
$6,951
$10,350
Average Morgantown Tax Bill
$6,974
Average Chester County Tax Bill
$6,037
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Morgantown, Chester County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19543 | $5,521 | $6,347 | $6,974 | $7,758 | $8,578 |
Source: Ownwell