Collegeville, Pennsylvania Property Taxes
The median property tax rate in Collegeville, PA is 3.92%, significantly higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Collegeville, the typical annual property tax bill reaches $7,245, far exceeding the national median of $2,690. Property taxes in Collegeville are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Collegeville'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 Collegeville 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
Collegeville, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.92%
Estimate Property Tax Bill
$7,104
Ownwell’s Collegeville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Collegeville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Collegeville 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 Collegeville, Pennsylvania
Property taxes in Collegeville, Pennsylvania, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Collegeville is 3.92%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Collegeville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Collegeville 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 Collegeville's effective property tax rate to other areas in Montgomery County and the national median. For comparison, the 19426 zip code has the highest median property tax rate of 3.92%, while the 19468 zip code has the lowest median tax rate of 1.93%. Understanding how these areas compare with Collegeville 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 Collegeville Tax Rate
3.92%
Average Montgomery County Tax Rate
3.94%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Collegeville, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19426 | 3.68% | 3.68% | 3.92% | 4.07% | 4.63% |
| 19456 | 3.68% | 3.68% | 3.68% | 3.68% | 3.68% |
| 19468 | 1.93% | 1.93% | 1.93% | 1.93% | 1.93% |
Source: Ownwell
Property Tax Assessment Values Across Collegeville, Pennsylvania
In Collegeville, 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 Collegeville, 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. Being aware of these valuation processes in Collegeville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest median tax bill in the area is $7,247 in the 19426 zip code, while the lowest is $3,574 in the 19456 zip code.
Property Tax Assessment Values Across Collegeville, Pennsylvania
Source: Ownwell
$33,380
$293,475
$553,570
Average Collegeville Assessed Value
$181,230
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 Collegeville, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19426 | $109,890 | $137,590 | $181,230 | $240,570 | $302,608 |
| 19456 | $97,120 | $97,120 | $97,120 | $97,120 | $97,120 |
| 19468 | $295,090 | $295,090 | $295,090 | $295,090 | $295,090 |
Source: Ownwell
Property Tax Bills Across Collegeville, Pennsylvania
In Collegeville, Montgomery County, PA, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is then multiplied by the local property tax rate to generate the annual tax bill. The median home price in Collegeville is $181,230, which serves as a reference point for understanding tax liabilities. Several factors influence the assessed value, including the property's market value, location, and any improvements or renovations made. For homeowners, this means that changes in the real estate market or upgrades to their property can significantly impact their tax bills. The tax bill can vary widely; for instance, the 25th percentile tax bill is $5,500, while the 75th percentile reaches $9,308, and the 90th percentile goes up to $11,622. In comparison to the national median property tax rate of 0.99%, Collegeville's tax bills reflect the local economic conditions and funding needs of the community, making it essential for homeowners to stay informed about their property assessments and any potential appeals.
Average Collegeville Tax Bill
$7,245
Average Montgomery County Tax Bill
$5,764
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Collegeville, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19426 | $4,289 | $5,500 | $7,247 | $9,308 | $11,623 |
| 19456 | $3,574 | $3,574 | $3,574 | $3,574 | $3,574 |
| 19468 | $5,709 | $5,709 | $5,709 | $5,709 | $5,709 |
Source: Ownwell