Belmont Hills, Pennsylvania Property Taxes
The median property tax rate in Belmont Hills, PA is 4.00%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With a median home value of $128,370 in Belmont Hills, the typical annual property tax bill reaches $5,138, far exceeding the national median of $2,690. Property taxes in Belmont Hills 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 Belmont Hills' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Belmont Hills 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
Belmont Hills, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
4%
Estimate Property Tax Bill
$5,135
Ownwell’s Belmont Hills Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Belmont Hills with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Belmont Hills 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 Belmont Hills, Pennsylvania
Property taxes in Belmont Hills, Pennsylvania, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Belmont Hills is 4.00%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Belmont Hills set these rates annually, and they can vary significantly across different neighborhoods. Each year, Belmont Hills 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 Belmont Hills' effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 19004 zip code has both the highest and lowest median property tax rate of 4.00%. Understanding how these cities compare with Belmont Hills provides valuable insights into the varying tax landscape across Montgomery County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Belmont Hills Tax Rate
4.00%
Average Montgomery County Tax Rate
3.94%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Belmont Hills, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19004 | 4.00% | 4.00% | 4.00% | 4.00% | 4.00% |
Source: Ownwell
Property Tax Assessment Values Across Belmont Hills, Pennsylvania
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Belmont Hills, PA. 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. Assessment notices in Belmont Hills 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Belmont Hills are both $5,138, with the zip code 19004.
Property Tax Assessment Values Across Belmont Hills, Pennsylvania
Source: Ownwell
$33,380
$293,475
$553,570
Average Belmont Hills Assessed Value
$128,370
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 Belmont Hills, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19004 | $96,442 | $111,722 | $128,370 | $140,115 | $157,160 |
Source: Ownwell
Property Tax Bills Across Belmont Hills, Pennsylvania
In Belmont Hills, Montgomery County, PA, property tax bills are determined by a combination of the property's assessed value and the local tax rate. The assessed value is based on the market value of the home, which in Belmont Hills has a median home price of $128,370. The tax rate is applied to this assessed value to calculate the annual tax bill. Homeowners in Belmont Hills can expect property tax bills that vary significantly. For instance, the 25th percentile tax bill is $4,472, while the 75th percentile tax bill reaches $5,608. At the 90th percentile, tax bills can go as high as $6,290. This variation is influenced by factors such as property value fluctuations and any applicable exemptions. Compared to the national median property tax rate of 0.99%, the property tax burden in Belmont Hills is relatively high. This can significantly impact homeowners, as higher property taxes can affect overall housing affordability and monthly budgeting. The highest median tax bill in the area is $5,138, observed in the 19004 zip code.
Average Belmont Hills Tax Bill
$5,138
Average Montgomery County Tax Bill
$5,764
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Belmont Hills, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19004 | $3,861 | $4,472 | $5,138 | $5,608 | $6,290 |
Source: Ownwell