Radnor, Pennsylvania Property Taxes
The median property tax rate in Radnor, PA is 2.97%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Radnor at $293,740, the typical annual property tax bill reaches $8,733, exceeding the national median of $2,690. Property taxes in Radnor 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 Radnor'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 Radnor 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
Radnor, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.97%
Estimate Property Tax Bill
$8,724
Ownwell’s Radnor Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Radnor with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Radnor 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 Radnor, Pennsylvania
Property taxes in Radnor, Pennsylvania, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Radnor is 2.97%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Radnor set these rates annually, and they can vary significantly across different neighborhoods. Each year, Radnor 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 Radnor's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the zip code 19087 has both the highest and lowest median property tax rate of 2.97%. Understanding how these cities compare with Radnor provides valuable insights into the varying tax landscape across Montgomery County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Radnor Tax Rate
2.97%
Average Montgomery County Tax Rate
3.94%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Radnor, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19087 | 2.97% | 2.97% | 2.97% | 2.97% | 2.97% |
Source: Ownwell
Property Tax Assessment Values Across Radnor, Pennsylvania
In Radnor, 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 Montgomery 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 Radnor, 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 Radnor helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Radnor is $8,733 in the 19087 zip code, which is also the lowest.
Average Radnor Assessed Value
$293,740
Average Montgomery County Assessed Value
$143,105
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Radnor, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19087 | $201,580 | $233,670 | $293,740 | $338,020 | $463,650 |
Source: Ownwell
Property Tax Bills Across Radnor, Pennsylvania
In Radnor, PA, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local property tax rate to generate the annual tax bill. Homeowners in Radnor face a property tax rate that can lead to significant annual costs. For example, the median home price in the area is $293,740, and the tax bill can range widely. At the 25th percentile, homeowners might pay around $6,947 annually, while those at the 75th percentile could see bills as high as $10,048. The 90th percentile tax bill can reach up to $13,783. This variability in tax bills underscores the importance of understanding how local assessments and property values impact overall costs. Compared to the national median property tax rate of 0.99%, Radnor's property taxes can be significantly higher, affecting the financial planning and budgeting for homeowners in the area.
Average Radnor Tax Bill
$8,733
Average Montgomery County Tax Bill
$5,764
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Radnor, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19087 | $5,992 | $6,947 | $8,733 | $10,048 | $13,783 |
Source: Ownwell