Media, Pennsylvania Property Taxes
The median property tax rate in Media, PA is 1.96%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Media at $367,925, the typical annual property tax bill reaches $7,189, exceeding the national median of $2,690. Property taxes in Media 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 Media'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 Media 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
Media, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.96%
Estimate Property Tax Bill
$7,211
Ownwell’s MEDIA Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in MEDIA with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in MEDIA 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 Media, Pennsylvania
Property taxes in Media, Pennsylvania, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Media is 1.96%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Media set these rates annually, and they can vary significantly across different neighborhoods. Each year, Media 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 Media's effective property tax rate to other areas in Pennsylvania and the national median. For comparison, the 19065 zip code has the highest median property tax rate of 3.21%, while the 19063 zip code has the lowest median tax rate of 1.96%. Understanding how these areas compare with Media 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 Media Tax Rate
1.96%
Average Delaware County Tax Rate
2.80%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Media, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19063 | 1.87% | 1.87% | 1.96% | 2.00% | 2.48% |
| 19065 | 3.21% | 3.21% | 3.21% | 3.21% | 3.21% |
Source: Ownwell
Property Tax Assessment Values Across Media, Pennsylvania
In Media, 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 Media, 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. For example, the highest median tax bill in the area is $17,240 in zip code 19065, while the lowest median tax bill is $7,189 in zip code 19063. 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 Media helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Media Assessed Value
$367,925
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 Media, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19063 | $234,398 | $289,570 | $367,910 | $480,205 | $617,892 |
| 19065 | $536,890 | $536,890 | $536,890 | $536,890 | $536,890 |
Source: Ownwell
Property Tax Bills Across Media, Pennsylvania
In MEDIA, 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 assessor and reflects a percentage of the property's market value. Homeowners in MEDIA face varying tax bills depending on their property's assessed value and the specific tax rate applied by local taxing authorities. For instance, the median home price in MEDIA is $367,925, leading to a range of property tax bills. The 25th percentile tax bill is $5,585, while the 75th percentile tax bill reaches $9,613. At the high end, the 90th percentile tax bill can climb to $13,162. This variation illustrates how higher property values result in proportionally higher tax bills. Homeowners in MEDIA experience tax bills that can significantly impact their annual expenses. Compared to the national median property tax rate of 0.99%, the tax rates in MEDIA can lead to substantial financial obligations, making it crucial for homeowners to understand and plan for these costs.
Average Media Tax Bill
$7,189
Average Delaware County Tax Bill
$5,691
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Media, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19063 | $4,406 | $5,585 | $7,189 | $9,610 | $13,159 |
| 19065 | $17,240 | $17,240 | $17,240 | $17,240 | $17,240 |
Source: Ownwell