Villanova, Pennsylvania Property Taxes
The median property tax rate in Villanova, PA is 4.00%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With a median home value of $463,230 in Villanova, the typical annual property tax bill reaches $18,540, far exceeding the national median of $2,690. Property taxes in Villanova 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 Villanova'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 Villanova or another part of Montgomery County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Villanova, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
4%
Estimate Property Tax Bill
$18,529
Ownwell’s Villanova Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Villanova with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Villanova 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 Villanova, Pennsylvania
Property taxes in Villanova, Pennsylvania, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Villanova is 4.00%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Villanova set these rates annually, and they can vary significantly across different neighborhoods. Each year, Villanova 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 Villanova's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 19085 zip code has the highest median property tax rate of 4.00%, while the same zip code also has the lowest median tax rate of 4.00%. Understanding how these cities compare with Villanova 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 Villanova Tax Rate
4.00%
Average Montgomery County Tax Rate
3.94%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Villanova, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19085 | 4.00% | 4.00% | 4.00% | 4.00% | 4.00% |
Source: Ownwell
Property Tax Assessment Values Across Villanova, Pennsylvania
In Villanova, 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 local appraisal district 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 Villanova, 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 Villanova helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 19085 has the same highest and lowest median tax bill at $18,540, reflecting the uniformity in tax assessments across the area.
Average Villanova Assessed Value
$463,230
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 Villanova, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19085 | $269,256 | $331,355 | $463,230 | $642,475 | $1,010,086 |
Source: Ownwell
Property Tax Bills Across Villanova, Pennsylvania
In Villanova, PA, property tax bills are calculated based on the assessed value of a property combined with the local tax rate. The assessed value is determined by the county's property assessor, who evaluates the market value of the home. Once the assessed value is established, it is multiplied by the local tax rate to calculate the annual tax bill. For homeowners in Villanova, the median home price stands at $463,230. The tax bills can vary significantly, with the 25th percentile at $13,262 and the 75th percentile at $25,713. At the higher end, the 90th percentile tax bill reaches $40,425. These figures illustrate the substantial impact property taxes can have on homeowners' finances, especially when compared to the national median property tax rate of 0.99%. The highest and lowest median tax bills in Villanova are both $18,540, indicating a consistent tax burden across different properties. Homeowners must consider these costs when budgeting for their annual expenses, as property taxes constitute a significant portion of homeownership costs.
Average Villanova Tax Bill
$18,540
Average Montgomery County Tax Bill
$5,764
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Villanova, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19085 | $10,776 | $13,262 | $18,540 | $25,713 | $40,425 |
Source: Ownwell