Malvern, Pennsylvania Property Taxes
The median property tax rate in Malvern, PA is 2.65%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Malvern, the typical annual property tax bill reaches $6,189, exceeding the national median of $2,690. Property taxes in Malvern 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 Malvern'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 Malvern 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
Malvern, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.65%
Estimate Property Tax Bill
$6,114
Ownwell’s Malvern Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Malvern using just two key data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Malvern to provide an estimate of your property tax bill. This valuable tool offers a clear understanding of potential tax liabilities. For those interested in more detailed trends at a neighborhood level, additional localized information is available further down the page. Your property’s assessed value is the figure assigned by Chester County for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Malvern, Pennsylvania
Property taxes in Malvern, Pennsylvania, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Malvern is 2.65%, significantly higher than the U.S. national median of 0.99%. Local government entities within Malvern set these rates annually, and they can vary significantly across different neighborhoods. Each year, Malvern 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 Malvern's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 19355 zip code has the highest median property tax rate of 2.65%, while the 19355 zip code has the lowest median tax rate of 2.65%. Understanding how these cities compare with Malvern provides valuable insights into the varying tax landscape across Chester County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Malvern Tax Rate
2.65%
Average Chester County Tax Rate
3.50%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Malvern, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19355 | 2.55% | 2.64% | 2.65% | 2.69% | 3.08% |
Source: Ownwell
Property Tax Assessment Values Across Malvern, Pennsylvania
In Malvern, 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 Chester 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 Malvern, 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 Malvern helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Malvern, both amounting to $6,189, are found in zip code 19355.
Average Malvern Assessed Value
$230,710
Average Chester County Assessed Value
$166,835
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Malvern, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19355 | $111,324 | $155,550 | $230,710 | $342,150 | $501,500 |
Source: Ownwell
Property Tax Bills Across Malvern, Pennsylvania
In Malvern, Chester 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 represents a percentage of the property's market value. Homeowners in Malvern can expect their property tax bills to vary significantly depending on their property's valuation and specific location within the county. For instance, the median home price in Malvern is $230,710, and property tax bills range widely. At the 25th percentile, homeowners might pay around $4,183, while those at the 75th percentile could face bills nearing $9,385. For properties in the 90th percentile, tax bills can reach up to $13,946. The highest median tax bill in the area is $6,189, found in the 19355 zip code. These variations highlight the impact of property values and local tax rates on homeowners. Compared to the national median property tax rate of 0.99%, Malvern's property taxes can be considerably higher, influencing financial planning and housing affordability for residents.
Average Malvern Tax Bill
$6,189
Average Chester County Tax Bill
$6,037
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Malvern, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19355 | $3,123 | $4,183 | $6,189 | $9,385 | $13,946 |
Source: Ownwell