Villanova, Pennsylvania Property Taxes
The median property tax rate in Villanova, 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 Villanova, the typical annual property tax bill reaches $14,599, far exceeding the national median of $2,690. Property taxes in Villanova 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 Villanova'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 Villanova 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
Villanova, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.94%
Estimate Property Tax Bill
$14,615
Ownwell’s Villanova Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Villanova with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Villanova 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 Villanova, Pennsylvania
Property taxes in Villanova, PA, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Villanova is 1.94%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Villanova set these rates annually, and they can vary significantly across different neighborhoods. Each year, Villanova 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 Villanova's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 19085 zip code has the highest median property tax rate of 1.94%, while the 19085 zip code also has the lowest median tax rate of 1.94%. Understanding how these areas compare with Villanova 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 Villanova 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 Villanova, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19085 | 1.94% | 1.94% | 1.94% | 1.94% | 1.94% |
Source: Ownwell
Property Tax Assessment Values Across Villanova, Pennsylvania
In Villanova, 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 Villanova, 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 Villanova helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Villanova is $753,335, with the highest and lowest median tax bills both at $14,599 in zip code 19085.
Property Tax Assessment Values Across Villanova, Pennsylvania
Source: Ownwell
$21,600
$706,300
$1,391,000
Average Villanova Assessed Value
$753,335
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 Villanova, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19085 | $493,879 | $573,638 | $753,335 | $1,071,135 | $1,645,928 |
Source: Ownwell
Property Tax Bills Across Villanova, Pennsylvania
In Villanova, Delaware County, PA, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as the market value of the property, any improvements made, and comparable property values in the area are considered during the assessment process. The median home price in Villanova stands at $753,335, and the property tax rate in this region contributes to significant tax bills. For instance, homeowners at the 25th percentile can expect to pay around $11,061 annually, while those at the 75th percentile might see bills as high as $20,798. At the 90th percentile, the tax bill can reach up to $31,436. These figures are notably higher than the national median property tax rate of 0.99%, reflecting the higher property values and tax rates in Villanova. Consequently, property taxes can be a significant financial consideration for homeowners in this area.
Average Villanova Tax Bill
$14,599
Average Delaware County Tax Bill
$5,691
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Villanova, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19085 | $9,504 | $11,061 | $14,599 | $20,798 | $31,436 |
Source: Ownwell