Devon, Delaware County, Pennsylvania Property Taxes
The median property tax rate in Devon, PA is 1.94%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Devon at $1,391,000, the typical annual property tax bill reaches $27,009, far exceeding the national median of $2,690. Property taxes in Devon 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 Devon'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 Devon or another part of Delaware County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Devon, Delaware County, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.94%
Estimate Property Tax Bill
$26,985
$25,042
Ownwell’s Devon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Devon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Devon 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 Devon, Delaware County, Pennsylvania
Property taxes in Devon, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Devon is 1.94%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Devon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Devon 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 Devon's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 19333 zip code has the highest median property tax rate of 1.94%, while the same zip code also has the lowest median tax rate of 1.94%. Understanding how these areas compare with Devon 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 Devon Tax Rate
1.94%
Average Delaware County Tax Rate
2.80%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Devon, Delaware County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19333 | 1.94% | 1.94% | 1.94% | 1.94% | 1.94% |
Source: Ownwell
Property Tax Assessment Values Across Devon, Delaware County, Pennsylvania
In Devon, 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 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 Devon, 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 Devon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 19333, with a median tax bill of $27,009.
Property Tax Assessment Values Across Devon, Delaware County, Pennsylvania
Source: Ownwell
$40,360
$715,680
$1,391,000
Average Devon Assessed Value
$1,391,000
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 Devon, Delaware County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19333 | $1,254,977 | $1,301,570 | $1,391,000 | $1,431,192 | $1,698,612 |
Source: Ownwell
Property Tax Bills Across Devon, Delaware County, Pennsylvania
In Devon, Delaware County, PA, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The tax rate is applied to this assessed value to determine the annual tax bill. Factors such as the property's location, size, and any improvements made can influence its assessed value. For homeowners in Devon, the tax burden can be substantial. With a median home price of $1,391,000, property tax bills can vary significantly. For instance, the 25th percentile tax bill is $25,272, while the 75th percentile reaches $27,789. At the 90th percentile, it escalates to $32,982, indicating a wide range of tax liabilities among residents. Comparatively, the national median property tax rate is 0.99%, making Devon's property taxes considerably higher. This significant tax obligation affects homeowners by increasing the overall cost of owning property in the area, potentially influencing decisions on home purchases and investments.
Average Devon Tax Bill
$27,009
Average Delaware County Tax Bill
$5,691
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Devon, Delaware County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19333 | $24,368 | $25,272 | $27,009 | $27,789 | $32,982 |
Source: Ownwell