A popular misconception is that wealthier areas of suburban Philadelphia cost more to live in because taxes are higher. This can hold true in some cases, but a well-managed township or borough in a “well to do area” can and usually does have a more manageable tax burden.
EXAMPLE: Norwood, Delaware County – median income of $59,223.
A new town home in the $135,000 range will have a tax bill over $4,000.
A $90,000 – 720 square foot house built in 1942 has an annual property tax of $3,568!
Let us now compare that with a Chester County location.
Chester brook, Chester County (Tredyffrin Township) – median income of $146,529.
A new town home in the $239,000 range will have a tax bill of $3,120.
A $150,000 – 910 square foot house built in the 1960’s has an annual property tax of $2,439
What we can learn from this is looking for quality townships with good management will help ease your tax burden. It is not always location or median income, but instead it is the local government that has managed the area.