Radnor, Pennsylvania Property Taxes
The median property tax rate in Radnor, 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 Radnor at $632,340, the typical annual property tax bill reaches $12,245, exceeding the national median of $2,690. Property taxes in Radnor 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 Radnor'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 Radnor 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
Radnor, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.94%
Estimate Property Tax Bill
$12,267
Ownwell’s Radnor Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Radnor with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Radnor 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 Radnor, Pennsylvania
Property taxes in Radnor, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Radnor is 1.94%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Radnor set these rates annually, and they can vary significantly across different neighborhoods. Each year, Radnor 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 Radnor's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 19087 zip code has the highest median property tax rate of 1.94%, while the 19008 zip code has the lowest median tax rate of 1.94%. Understanding how these areas compare with Radnor 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 Radnor 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 Radnor, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19008 | 1.94% | 1.94% | 1.94% | 1.94% | 1.94% |
| 19087 | 1.94% | 1.94% | 1.94% | 1.94% | 1.94% |
Source: Ownwell
Property Tax Assessment Values Across Radnor, Pennsylvania
In Radnor, 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 Delaware County 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 Radnor, 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. The median home price in Radnor is $632,340, with the highest median tax bill of $12,776 in zip code 19087 and the lowest median tax bill of $11,776 in zip code 19008. 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 Radnor helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Radnor Assessed Value
$632,340
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 Radnor, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19008 | $546,094 | $564,330 | $606,500 | $660,010 | $726,220 |
| 19087 | $264,170 | $544,470 | $668,150 | $819,348 | $1,025,293 |
Source: Ownwell
Property Tax Bills Across Radnor, Pennsylvania
In Radnor, Delaware County, PA, property tax bills are calculated based on the assessed value of a home, which is derived from the market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. Homeowners in Radnor experience a range of tax bills, with the 25th percentile at $10,591 and the 75th percentile at $14,955. For those at the higher end, the 90th percentile tax bill is $18,706. The highest median tax bill in the area is $12,776 in the 19087 zip code, while the lowest is $11,776 in the 19008 zip code. These figures show that Radnor's property tax rates are significantly higher than the national median property tax rate of 0.99%. Such high property taxes can impact homeowners by increasing the cost of homeownership, potentially affecting housing affordability and household budgets.
Average Radnor Tax Bill
$12,245
Average Delaware County Tax Bill
$5,691
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Radnor, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19008 | $10,431 | $10,944 | $11,776 | $12,815 | $14,101 |
| 19087 | $5,129 | $10,399 | $12,776 | $15,909 | $19,908 |
Source: Ownwell