Elverson, Pennsylvania Property Taxes
The median property tax rate in Elverson, PA is 3.62%, significantly higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Elverson, the typical annual property tax bill reaches $5,624, far exceeding the national median of $2,690. Property taxes in Elverson 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 Elverson'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 Elverson 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
Elverson, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.62%
Estimate Property Tax Bill
$5,626
Ownwell’s Elverson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Elverson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Elverson 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 Elverson, Pennsylvania
Property taxes in Elverson, Pennsylvania, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Elverson is 3.62%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Elverson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Elverson 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 Elverson's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 19520 zip code has both the highest and lowest median property tax rate of 3.62%. Understanding how these cities compare with Elverson 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 Elverson Tax Rate
3.62%
Average Chester County Tax Rate
3.50%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Elverson, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19520 | 3.35% | 3.58% | 3.62% | 3.71% | 3.85% |
Source: Ownwell
Property Tax Assessment Values Across Elverson, Pennsylvania
In Elverson, 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. Assessment notices in Elverson 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 Elverson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in the area is $155,420, with the highest and lowest median tax bills both recorded at $5,624 in the 19520 zip code.
Average Elverson Assessed Value
$155,420
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 Elverson, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19520 | $92,472 | $121,880 | $155,420 | $190,460 | $237,194 |
Source: Ownwell
Property Tax Bills Across Elverson, Pennsylvania
In Elverson, located in Chester County, PA, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Homeowners in Elverson experience a range of property tax bills, with the 25th percentile at $4,405 and the 75th percentile reaching $6,872. At the 90th percentile, the tax bill can be as high as $8,642, indicating significant variability based on property value and location. The median home price in Elverson is $155,420, and the median property tax bill is $5,624, which is notably higher than the national median property tax rate of 0.99%. These taxes fund essential local services such as schools, public safety, and infrastructure. Higher property taxes can impact homeowners by increasing the overall cost of homeownership, but they also contribute to maintaining and improving community amenities and services.
Average Elverson Tax Bill
$5,624
Average Chester County Tax Bill
$6,037
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Elverson, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19520 | $3,277 | $4,405 | $5,624 | $6,872 | $8,642 |
Source: Ownwell