New Wilmington, Pennsylvania Property Taxes
The median property tax rate in New Wilmington, PA is 2.53%, significantly higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With a median home value of $114,900 in New Wilmington, the typical annual property tax bill reaches $2,825, surpassing the national median of $2,690. Property taxes in New Wilmington 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 New Wilmington'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 New Wilmington or another part of Lawrence County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
New Wilmington, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.53%
Estimate Property Tax Bill
$2,907
Ownwell’s New Wilmington Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in New Wilmington with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in New Wilmington 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 New Wilmington, Pennsylvania
Property taxes in New Wilmington, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in New Wilmington is 2.53%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within New Wilmington set these rates annually, and they can vary significantly across different neighborhoods. Each year, New Wilmington 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 New Wilmington's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 16142 zip code has the highest median property tax rate of 2.53%, while the same zip code also has the lowest median tax rate of 2.53%. Understanding how these cities compare with New Wilmington provides valuable insights into the varying tax landscape across Lawrence County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average New Wilmington Tax Rate
2.53%
Average Lawrence County Tax Rate
2.91%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across New Wilmington, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16142 | 2.41% | 2.41% | 2.53% | 2.53% | 2.59% |
Source: Ownwell
Property Tax Assessment Values Across New Wilmington, Pennsylvania
In New Wilmington, 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 Lawrence 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 New Wilmington, 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 stands at $114,900, with tax bills ranging from $2,144 at the 25th percentile to $5,701 at the 90th percentile. The highest and lowest median tax bills are both $2,825 in the 16142 zip code. By understanding 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 New Wilmington helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across New Wilmington, Pennsylvania
Source: Ownwell
$43,200
$80,550
$117,900
Average New Wilmington Assessed Value
$114,900
Average Lawrence County Assessed Value
$65,300
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across New Wilmington, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16142 | $68,740 | $86,450 | $114,900 | $154,250 | $227,420 |
Source: Ownwell
Property Tax Bills Across New Wilmington, Pennsylvania
In New Wilmington, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county's property assessor and typically reflects a percentage of the market value. For homeowners in New Wilmington, the median home price is $114,900. Tax bills can vary significantly, with the 25th percentile at $2,144 and the 75th percentile reaching $3,852. At the higher end, the 90th percentile tax bill can be as much as $5,701. These figures indicate a broad range of property tax burdens depending on the home's assessed value and specific location within the city. Homeowners in New Wilmington face a median property tax bill of $2,825, which is notably higher than the national median property tax rate of 0.99%. This can impact homeowners by increasing their annual housing costs, potentially influencing their financial planning and long-term investment decisions.
Average New Wilmington Tax Bill
$2,825
Average Lawrence County Tax Bill
$2,023
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across New Wilmington, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16142 | $1,709 | $2,144 | $2,825 | $3,852 | $5,701 |
Source: Ownwell