Folcroft, Pennsylvania Property Taxes
The median property tax rate in Folcroft, PA is 4.03%, significantly higher than both the national median of 0.99% and Pennsylvania's state median of 2.81%. With a median home value of $103,210 in Folcroft, the typical annual property tax bill reaches $4,156, far exceeding the national median of $2,690. Property taxes in Folcroft are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like those for primary residences and agricultural properties. Understanding Folcroft's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Folcroft 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
Folcroft, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
4.03%
Estimate Property Tax Bill
$4,159
Ownwell’s Folcroft Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Folcroft with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Folcroft 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 Folcroft, Pennsylvania
Property taxes in Folcroft, Pennsylvania, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Folcroft is 4.03%, significantly higher than the U.S. national median of 0.99%. Local government entities within Folcroft set these rates annually, and they can vary significantly across different neighborhoods. Each year, Folcroft 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 Folcroft's effective property tax rate to other areas in Delaware County and the national median. For comparison, the zip code 19032 has the highest median property tax rate of 4.03%, while the same zip code also has the lowest median tax rate of 4.03%. Understanding how these cities compare with Folcroft provides valuable insights into the varying tax landscape across Delaware County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Folcroft Tax Rate
4.03%
Average Delaware County Tax Rate
2.80%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Folcroft, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19032 | 4.03% | 4.03% | 4.03% | 4.03% | 4.03% |
Source: Ownwell
Property Tax Assessment Values Across Folcroft, Pennsylvania
In Folcroft, 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 Delaware 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 Folcroft, 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 Folcroft helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Folcroft are both $4,156 in the 19032 zip code.
Property Tax Assessment Values Across Folcroft, Pennsylvania
Source: Ownwell
$21,600
$706,300
$1,391,000
Average Folcroft Assessed Value
$103,210
Average Delaware County Assessed Value
$197,870
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Folcroft, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19032 | $88,746 | $97,115 | $103,210 | $109,885 | $125,530 |
Source: Ownwell
Property Tax Bills Across Folcroft, Pennsylvania
In Folcroft, located in Delaware County, PA, 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 and is used as a basis to compute the annual property tax. Homeowners in Folcroft experience varying tax bills, influenced by factors such as the home’s assessed value and any applicable exemptions or deductions. For instance, the median home price in Folcroft is $103,210. Property tax bills in this area range significantly, with the 25th percentile at $3,908 and the 75th percentile at $4,423. The 90th percentile tax bill can reach up to $5,051. This variation shows how different factors can influence the final tax amount, impacting homeowners differently based on their property’s assessed value. Comparatively, the median property tax rate in the area is higher than the national median of 0.99%, demonstrating a significant financial consideration for homeowners in Folcroft. Understanding these factors can help residents anticipate their property tax obligations and plan accordingly.
Average Folcroft Tax Bill
$4,156
Average Delaware County Tax Bill
$5,691
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Folcroft, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19032 | $3,551 | $3,908 | $4,156 | $4,423 | $5,051 |
Source: Ownwell