I am trying to analyze deals using bigger pockets calculator. Looking into properties in Delaware county. What is a good way to get an approximately accurate property tax and insurance rates in PA? I have heard that Zillow or MLS are not very reliable sources. I have tried searching the county websites but each township/borrough/school district seems to have their own rates and most of them are not even accessible online. So is the easiest way to just call each and every township asking about their millage rates? That seems very time consuming for just an initial analysis. Or are there any other ways?
The reason that it is not readily available in Delco is that the entire county is being re-assessed, and the millage rates will be all new for 2021. Some townships/boroughs may not have even figured out their millage rates yet as the muni tax bills don't usually go out for another few months.
Thanks for your reply @Gregory Hiban , I guess for now I will just analyze deals with the numbers from MLS!
@Shahadat Reza , @Gregory Hiban is absolutely right. I am frustrated with a bunch of my properties because I am trying to figure out where my tax bills will fall given the reassessment and the info is not readily available. The county has tax bills posted online, if you go to this link you can search for specific properties. From there I would take muni and school bills from last year and add 10% to be safe. As the bills/millage rates are released you will have more accurate info. School bills won't come out until July and those are usually the largest of the 3 tax bills, so there is still a lot up in the air.
Another important piece that might be obvious is to make sure you are looking at the 2021 assessment value. If the assessment seems very low, it is likely the 2020 value, which is irrelevant at this point. You can also see the up to date assessment value at that link above. If you want to double check it, the county millage rate is 2.99, so work backwards using the millage rate and the county tax bill to get your assessment.
Awesome! Thank you! a 10% margin for school and municipalities should be a safe bet.