Toughkenamon, Pennsylvania Property Taxes
The median property tax rate in Toughkenamon, PA is 3.81%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Toughkenamon, the typical annual property tax bill reaches $4,186, exceeding the national median of $2,690. Property taxes in Toughkenamon 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 Toughkenamon'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 Toughkenamon 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
Toughkenamon, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.81%
Estimate Property Tax Bill
$4,516
Ownwell’s Toughkenamon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Toughkenamon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Toughkenamon 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 Toughkenamon, Pennsylvania
Property taxes in Toughkenamon, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Toughkenamon is 3.81%, significantly higher than the U.S. national median of 0.99%. Local government entities within Toughkenamon set these rates annually, and they can vary across different neighborhoods. Each year, Toughkenamon 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 Toughkenamon's effective property tax rate to other areas and the national median. For comparison, Toughkenamon, with a zip code of 19374, has both the highest and lowest median property tax rate of 3.81%. Understanding how these rates compare with Toughkenamon 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 Toughkenamon Tax Rate
3.81%
Average Chester County Tax Rate
3.50%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Toughkenamon, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19374 | 2.43% | 3.58% | 3.81% | 3.87% | 3.87% |
Source: Ownwell
Property Tax Assessment Values Across Toughkenamon, Pennsylvania
In Toughkenamon, 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 Toughkenamon, 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 instance, the median home price in Toughkenamon is $118,540, with tax bills ranging from $2,921 at the 25th percentile to $6,684 at the 90th percentile. The highest and lowest median tax bills are both $4,186 in the 19374 zip code. 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 Toughkenamon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Toughkenamon, Pennsylvania
Source: Ownwell
$17,490
$208,860
$400,230
Average Toughkenamon Assessed Value
$118,540
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 Toughkenamon, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19374 | $52,437 | $85,068 | $118,540 | $146,522 | $178,517 |
Source: Ownwell
Property Tax Bills Across Toughkenamon, Pennsylvania
In Toughkenamon, Chester 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 property tax rate to calculate the annual tax bill. For example, with a median home price of $118,540, homeowners in Toughkenamon can expect varying tax bills depending on their property's assessed value and the specific tax rate applied. Several factors influence the final tax bill, including property size, location, and any applicable exemptions or deductions. The tax bill can significantly impact homeowners, as it represents a recurring cost that must be budgeted for annually. In Toughkenamon, tax bills at the 25th percentile are around $2,921, while those at the 75th percentile reach approximately $5,600, and the 90th percentile can be as high as $6,684. These figures highlight the range of property tax burdens that homeowners might face, emphasizing the importance of understanding and managing these costs effectively.
Average Toughkenamon Tax Bill
$4,186
Average Chester County Tax Bill
$6,037
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Toughkenamon, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19374 | $1,734 | $2,921 | $4,186 | $5,600 | $6,684 |
Source: Ownwell