Folsom, Pennsylvania Property Taxes
The median property tax rate in Folsom, PA is 3.32%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Folsom, the typical annual property tax bill reaches $6,112, exceeding the national median of $2,690. Property taxes in Folsom 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 Folsom'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 Folsom 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
Folsom, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.32%
Estimate Property Tax Bill
$6,120
Ownwell’s Folsom Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Folsom with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Folsom 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 Delaware County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Folsom, Pennsylvania
Property taxes in Folsom, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Folsom is 3.32%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Folsom set these rates annually, and they can vary significantly across different neighborhoods. Each year, Folsom 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 Folsom's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 19033 zip code has the highest median property tax rate of 3.32%, while the same zip code also has the lowest median tax rate of 3.32%. Understanding how these cities compare with Folsom 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 Folsom Tax Rate
3.32%
Average Delaware County Tax Rate
2.80%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Folsom, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19033 | 3.32% | 3.32% | 3.32% | 3.32% | 3.32% |
Source: Ownwell
Property Tax Assessment Values Across Folsom, Pennsylvania
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Folsom, Pennsylvania. 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 Folsom, 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 Folsom helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Folsom, the median home price is $184,335, with the highest and lowest median tax bills both being $6,112 in the 19033 zip code.
Average Folsom Assessed Value
$184,335
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 Folsom, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19033 | $152,889 | $165,152 | $184,335 | $210,102 | $238,047 |
Source: Ownwell
Property Tax Bills Across Folsom, Pennsylvania
In Folsom, 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's assessment office and is a percentage of the property's market value. Homeowners in Folsom face a median property tax rate of 0.99%, which aligns with the national median. For instance, a property with a median home price of $184,335 would incur a tax bill calculated by applying the local tax rate to the assessed value. Factors like the property's condition, location, and improvements can influence the assessed value, thereby affecting the tax bill. Homeowners in the 25th percentile can expect tax bills around $5,476, while those in the 75th percentile might see bills near $6,961. The highest median tax bill recorded in the area is $6,112, which can significantly impact household budgets. Understanding these factors helps homeowners anticipate their property tax obligations and plan accordingly.
Average Folsom Tax Bill
$6,112
Average Delaware County Tax Bill
$5,691
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Folsom, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19033 | $5,076 | $5,476 | $6,112 | $6,961 | $7,872 |
Source: Ownwell