Newtown Square, Pennsylvania Property Taxes
The median property tax rate in Newtown Square, PA is 1.61%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Newtown Square at $433,270, the typical annual property tax bill reaches $7,068, exceeding the national median of $2,690. Property taxes in Newtown Square are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Newtown Square'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 Newtown Square 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
Newtown Square, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.61%
Estimate Property Tax Bill
$6,976
Ownwell’s Newtown Square Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Newtown Square with just two simple inputs. By entering your property's estimated assessed value, the calculator uses the median tax rate in Newtown Square to provide an estimated property tax bill. This valuable tool aids in understanding potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value, determined by Delaware County, is used for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Newtown Square, Pennsylvania
Property taxes in Newtown Square, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Newtown Square is 1.61%, significantly higher than the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Newtown Square set these rates annually, and they can vary significantly across different neighborhoods. Each year, Newtown Square 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 Newtown Square's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the zip code 19073 has the highest median property tax rate of 1.61%, while the same zip code also has the lowest median tax rate of 1.61%. Understanding how these cities compare with Newtown Square 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 Newtown Square Tax Rate
1.61%
Average Delaware County Tax Rate
2.80%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Newtown Square, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19073 | 1.61% | 1.61% | 1.61% | 1.61% | 1.82% |
Source: Ownwell
Property Tax Assessment Values Across Newtown Square, Pennsylvania
In Newtown Square, 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 Newtown Square, 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. With a median home price of $433,270, the tax bills can vary significantly. For instance, the 25th percentile tax bill is around $4,986, while the 75th percentile tax bill reaches $10,365. Notably, the highest and lowest median tax bills in the area are both $7,068, found in zip code 19073. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage their tax burden.
Property Tax Assessment Values Across Newtown Square, Pennsylvania
Source: Ownwell
$21,600
$706,300
$1,391,000
Average Newtown Square Assessed Value
$433,270
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 Newtown Square, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19073 | $204,728 | $308,075 | $433,270 | $619,040 | $858,646 |
Source: Ownwell
Property Tax Bills Across Newtown Square, Pennsylvania
In Newtown Square, Delaware County, PA, property tax bills are calculated based on the assessed value of a home. This assessed value is a percentage of the property's market value, determined by local assessors. The tax rate, or millage rate, is then applied to this assessed value to calculate the annual tax bill. Various factors influence the assessed value, including the property's size, location, and condition. Homeowners in Newtown Square experience a range of tax bills. For instance, the 25th percentile tax bill is around $4,986, while those in the 75th percentile pay approximately $10,365. At the 90th percentile, tax bills can reach up to $14,516. The median home price in this area is $433,270, leading to a median tax bill of $7,068, which is notably higher than the national median property tax rate of 0.99%. These property taxes significantly impact homeowners, affecting their annual budget and long-term financial planning.
Average Newtown Square Tax Bill
$7,068
Average Delaware County Tax Bill
$5,691
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Newtown Square, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19073 | $3,499 | $4,986 | $7,068 | $10,365 | $14,516 |
Source: Ownwell