Garnet Valley, Pennsylvania Property Taxes
The median property tax rate in Garnet Valley, PA is 2.29%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Garnet Valley, the typical annual property tax bill reaches $9,266, exceeding the national median of $2,690. Property taxes in Garnet Valley 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 Garnet Valley'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 Garnet Valley 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
Garnet Valley, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.29%
Estimate Property Tax Bill
$9,348
Ownwell’s Garnet Valley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Garnet Valley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Garnet Valley 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 Garnet Valley, Pennsylvania
Property taxes in Garnet Valley, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Garnet Valley is 2.29%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Garnet Valley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Garnet Valley 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 Garnet Valley's effective property tax rate to other regions in Pennsylvania and the national median. For comparison, the zip code 19060 has the highest median property tax rate of 2.29%, while the same zip code also has the lowest median tax rate of 2.29%. Understanding how these areas compare with Garnet Valley 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 Garnet Valley Tax Rate
2.29%
Average Delaware County Tax Rate
2.80%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Garnet Valley, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19060 | 2.22% | 2.26% | 2.29% | 2.29% | 2.29% |
Source: Ownwell
Property Tax Assessment Values Across Garnet Valley, Pennsylvania
In Garnet Valley, 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 Garnet Valley, 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 Garnet Valley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Garnet Valley, the highest median tax bill is $9,266 in the 19060 zip code, while the lowest median tax bill is also $9,266 in the same zip code, highlighting the uniformity in tax bills across the area.
Property Tax Assessment Values Across Garnet Valley, Pennsylvania
Source: Ownwell
$21,600
$706,300
$1,391,000
Average Garnet Valley Assessed Value
$408,190
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 Garnet Valley, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19060 | $248,735 | $303,342 | $408,190 | $498,845 | $619,035 |
Source: Ownwell
Property Tax Bills Across Garnet Valley, Pennsylvania
In Garnet Valley, 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's property assessor and is meant to reflect the market value of the property. Once the assessed value is established, it is multiplied by the local property tax rate to calculate the annual tax bill. For homeowners in Garnet Valley, the median home price stands at $408,190. Property tax bills can vary significantly, with the 25th percentile tax bill at $7,039 and the 75th percentile reaching $11,383. At the upper end, the 90th percentile tax bill can be as high as $13,983. These tax bills can significantly impact homeowners, affecting their annual budget and the overall cost of homeownership. Comparing to the national median property tax rate of 0.99%, Garnet Valley's property tax landscape shows a considerable range, reflecting the area's property values and local tax policies.
Average Garnet Valley Tax Bill
$9,266
Average Delaware County Tax Bill
$5,691
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Garnet Valley, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19060 | $5,812 | $7,039 | $9,266 | $11,383 | $13,983 |
Source: Ownwell