As we head into 2025, changes to property tax rates in Chester, Delaware, Montgomery, and Bucks counties are making headlines. These adjustments could impact homeowners’ budgets and the overall real estate market in the region. Here’s a breakdown of the updates:

Bucks County: No Tax Increase

In a positive turn for homeowners, Bucks County property taxes will remain unchanged in 2025. The county commissioners approved a $500 million operating budget that keeps the property tax rate steady at 27.45 mills, maintaining affordability for residents.

Chester County: A 13.4% Tax Increase

Homeowners in Chester County will see a notable increase in their property taxes. The county commissioners approved a $730 million budget for 2025, raising the property tax rate to 5.164 mills, reflecting a 13.4% increase compared to 2024. This rise will contribute to county services and infrastructure but may also place additional financial pressure on property owners.

Delaware County: A Significant 23% Tax Hike

Delaware County Council approved a $396.5 million operating budget that includes a substantial 23% property tax increase. The new rate of 3.873 mills marks one of the largest increases in the region. Homeowners should plan accordingly for this significant adjustment.

Montgomery County: A 9% Tax Increase

Montgomery County commissioners approved a $610.9 million budget for 2025, implementing a 9% property tax increase. The new rate of 5.642 mills includes 5.252 mills allocated to the general fund and 0.39 mills designated for Montgomery County Community College. The increased revenue aims to support public services and education within the county.

Understanding Millage Rates

Property tax rates are measured in millage, with 1 mill equaling $1 for every $1,000 of assessed property value. For example:

  • A home assessed at $250,000 in a county with a millage rate of 5.164 mills (Chester County) would owe $1,291 in property taxes annually.

What This Means for Homeowners

Property tax increases can affect both homeownership affordability and real estate market trends. Homeowners should:

  • Review their budgets to account for any increases.

  • Appeal property assessments if they feel their home’s valuation is inaccurate.

  • Consult with real estate professionals to understand how tax changes might impact buying or selling decisions.

Stay Informed

As property tax rates evolve, it’s essential for homeowners and potential buyers to stay updated. If you have questions about how these changes could affect your property or plans to move, reach out for expert advice.

Sources:

  • Chester County Budget 2025

  • Delaware County Council Budget 2025

  • Montgomery County Budget 2025

  • Bucks County Commissioners Meeting, December 2024