Bally, Pennsylvania Property Taxes
The median property tax rate in Bally, PA is 3.75%, considerably higher than both the national median of 0.99% and Pennsylvania's state median of 2.81%. With the median home value in Bally at $260,320, the typical annual property tax bill reaches $9,774, exceeding the national median of $2,690. Property taxes in Bally 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 Bally'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 Bally 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
Bally, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.75%
Estimate Property Tax Bill
$9,762
Ownwell’s Bally Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bally with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bally 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 Bally, Pennsylvania
Property taxes in Bally, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bally is 1.35%, significantly higher than both the Pennsylvania state median of 1.46% and the U.S. national median of 0.99%. Local government entities within Bally set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bally 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 Bally's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the zip code 19503 has both the highest and lowest median property tax rate of 1.35%. Understanding how these cities compare with Bally provides valuable insights into the varying tax landscape across Berks, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bally Tax Rate
3.75%
Average Montgomery County Tax Rate
3.94%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bally, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19503 | 3.75% | 3.75% | 3.75% | 3.75% | 3.75% |
Source: Ownwell
Property Tax Assessment Values Across Bally, Pennsylvania
In Bally, 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 Montgomery 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 Bally, 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. The median home price in Bally is $260,320, and the median tax bill is $9,774, which is significantly higher than the national median property tax rate of 0.99%. The zip code 19503 has both the highest and lowest median tax bills at $9,774. Being aware of these valuation processes in Bally helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Bally Assessed Value
$260,320
Average Montgomery County Assessed Value
$143,105
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bally, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19503 | $260,320 | $260,320 | $260,320 | $260,320 | $260,320 |
Source: Ownwell
Property Tax Bills Across Bally, Pennsylvania
Property tax bills in Bally, located in Montgomery County, PA, are calculated based on the assessed value of a property and the applicable tax rate. The assessed value is determined by the county assessor, who evaluates the property's worth. This assessed value is then multiplied by the local tax rate to calculate the annual property tax bill. For instance, the median home price in Bally stands at $260,320. Homeowners in Bally face a median property tax bill of $9,774, which is significantly higher than the national median property tax rate of 0.99%. This substantial tax bill can impact homeowners by increasing their annual housing costs, potentially affecting affordability and financial planning. Factors such as property improvements, neighborhood developments, and market trends can influence the assessed value, thereby affecting the property tax bill. Understanding these factors is crucial for homeowners to anticipate and manage their property tax obligations effectively.
Average Bally Tax Bill
$9,774
Average Montgomery County Tax Bill
$5,764
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Bally, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19503 | $9,774 | $9,774 | $9,774 | $9,774 | $9,774 |
Source: Ownwell