Lima, Delaware County, Pennsylvania Property Taxes

Local government entities set tax rates, which can vary widely within a state. This variation occurs because each county annually estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. While votes and laws play a role in setting these rates and budgets, this is essentially the annual process.

In Lima, Delaware County, PA, the property tax rate is notably lower than the national median of 1.02%. This can be advantageous for property owners, as it means a lower tax burden compared to other regions. However, it is essential to consider that a lower tax rate may also reflect the level of services provided by local governments. Comparing Lima's effective property tax rate to other cities in Pennsylvania and the median property tax rates in the state and the U.S. can provide valuable insights for property owners. Understanding these differences can help property owners make informed decisions about purchasing or investing in real estate in Lima and the surrounding areas.

In Lima, Delaware County, PA, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The tax rate, known as the millage rate, is then applied to this assessed value to calculate the annual tax bill. Despite the median home price in Lima being $349,400, the property tax bills are notably low, with the 25th, 75th, and 90th percentiles all at $458. This is significantly below the national median property tax bill of $2,400, providing a financial advantage to homeowners in the area.

However, even with these lower tax bills, homeowners may still face financial challenges. That's where Ownwell comes in. By offering professional property tax appeal and exemption services, Ownwell helps homeowners ensure their properties are fairly assessed. This can lead to potential savings by reducing the assessed value and, consequently, the tax bill. With expert guidance, homeowners can navigate the complexities of property tax assessments and secure the lowest possible tax obligation.