If you would like to know your property's real estate assessment, send us an email, and the Township will send your property's assessed value. Be sure to include your property's physical address (e.g., 123 E. Lancaster Avenue, Wayne) in the message.

 

Impact of the November 7th Open Space Bond Referendum on Your Real Estate Tax Bill

On Tuesday, November 7, 2006, Radnor Township voters were asked whether they want to authorize the Radnor Board of Commissioners to borrow up to $20 million to preserve open space in the Township.

Because a portion up to all of the principal and interest on the bonds that the Township would likely issue to fund open space preservation would have to be paid by additional real estate taxes, you might want to know how any such increase in real estate taxes would affect your individual tax bill.

For illustration purposes only, if any new debt incurred as a result of the proposed 2006 ballot question were to be repaid in full by additional real estate taxes, and assuming that any debt so incurred was through the issuance of general obligation bonds repaid in level amounts over 30 years and issued at current tax-exempt interest rates for highly-rated bonds like Radnor's, then a Radnor Township property owner would pay additional Township real estate taxes of approximately $40 per year for each $100,000 of assessed value on his/her property.

This equates to an increase of 0.4 mills, or 1.6% of the total real estate taxes currently paid by a Radnor Township property owner to Delaware County, Radnor Township School District, and Radnor Township.

A property owner can calculate the approximate maximum impact on his/her own property by multiplying the assessed value of his/her property by .0004. Thus, under this scenario, a residential property owner whose property is assessed at the Township average of $280,000 would pay an additional $112 in Township real estate taxes per year ($280,000 X .0004 = $112).