Thornton, Pennsylvania Property Taxes
The median property tax rate in Thornton, PA is 2.80%, which is considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With a median home value of $369,870 in Thornton, the typical annual property tax bill reaches $10,350, significantly exceeding the national median of $2,690. Property taxes in Thornton 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 Thornton'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 Thornton or another part of Chester County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Thornton, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.8%
Estimate Property Tax Bill
$10,356
Ownwell’s Thornton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Thornton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Thornton 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 Thornton, Pennsylvania
Property taxes in Thornton, Pennsylvania, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Thornton is 2.80%, significantly higher than the U.S. national median of 0.99%. Local government entities within Thornton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Thornton 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 Thornton's effective property tax rate to other areas in Pennsylvania and the national median. For comparison, the 19373 zip code has the highest median property tax rate of 2.80%, while the same zip code also has the lowest median tax rate of 2.80%. Understanding how these areas compare with Thornton 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 Thornton Tax Rate
2.80%
Average Chester County Tax Rate
3.50%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Thornton, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19373 | 2.61% | 2.66% | 2.80% | 2.80% | 2.80% |
Source: Ownwell
Property Tax Assessment Values Across Thornton, Pennsylvania
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Thornton, 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 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 Thornton, 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 Thornton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 19373 has the highest median tax bill at $10,350.
Average Thornton Assessed Value
$369,870
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 Thornton, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19373 | $228,806 | $303,170 | $369,870 | $445,970 | $543,240 |
Source: Ownwell
Property Tax Bills Across Thornton, Pennsylvania
In Thornton, Chester County, PA, property tax bills are calculated based on the assessed value of the property, which is determined by local assessors. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value. For homeowners in Thornton, the median home price is $369,870. Property tax bills vary significantly, with the 25th percentile at $7,885 and the 75th percentile reaching $12,479. The 90th percentile sees tax bills as high as $14,470. These figures are notably higher than the national median property tax rate of 0.99%, reflecting the region's higher property values and tax rates. High property tax bills can impact homeowners by increasing the cost of homeownership, potentially affecting affordability and long-term financial planning. Conversely, the funds collected through property taxes support essential public services, including schools, infrastructure, and emergency services, contributing to the overall quality of life in the community.
Average Thornton Tax Bill
$10,350
Average Chester County Tax Bill
$6,037
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Thornton, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19373 | $6,263 | $7,885 | $10,350 | $12,479 | $14,470 |
Source: Ownwell