Devon, Pennsylvania Property Taxes
The median property tax rate in Devon, PA is 3.31%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Devon at $221,005, the typical annual property tax bill reaches $7,519, far exceeding the national median of $2,690. Property taxes in Devon 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 Devon'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 Devon or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Devon, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.31%
Estimate Property Tax Bill
$7,315
Ownwell’s Devon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Devon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Devon 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 Devon, Pennsylvania
Property taxes in Devon, Pennsylvania, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Devon is 3.31%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Devon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Devon 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 Devon's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 19333 zip code has the highest median property tax rate of 3.31%, while the same zip code also has the lowest median tax rate of 3.31%. Understanding how these cities compare with Devon 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 Devon Tax Rate
3.31%
Average Chester County Tax Rate
3.50%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Devon, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19333 | 3.31% | 3.31% | 3.31% | 3.49% | 3.49% |
Source: Ownwell
Property Tax Assessment Values Across Devon, Pennsylvania
In Devon, 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 Devon, 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 Devon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Devon is $221,005, with annual tax bills ranging from $3,914 at the 25th percentile to $17,984 at the 90th percentile. The highest median tax bill in the area is $7,519 in zip code 19333.
Average Devon Assessed Value
$221,005
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 Devon, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19333 | $76,770 | $119,108 | $221,005 | $356,622 | $527,575 |
Source: Ownwell
Property Tax Bills Across Devon, Pennsylvania
In Devon, Chester County, PA, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county assessor and is often a percentage of the property's market value. Factors such as the property's location, size, and condition are considered during assessment. Once the assessed value is established, the local tax rate is applied to calculate the annual property tax bill. Homeowners in Devon face varying tax bills depending on their property's assessed value. For example, the tax bill at the 25th percentile is $3,914, while at the 75th percentile, it is $11,987. The 90th percentile tax bill can reach up to $17,984. The highest median tax bill in the area is $7,519, which is significantly higher than the national median property tax rate of 0.99%. These property taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the community's quality of life. Homeowners must budget for these taxes, as they are a substantial component of homeownership costs in Devon.
Average Devon Tax Bill
$7,519
Average Chester County Tax Bill
$6,037
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Devon, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19333 | $2,540 | $3,914 | $7,519 | $11,987 | $17,984 |
Source: Ownwell