Merion Station, Pennsylvania Property Taxes
The median property tax rate in Merion Station, PA is 4.00%, significantly higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With a median home value of $277,040, the typical annual property tax bill in Merion Station reaches $11,088, far exceeding the national median of $2,690. Property taxes in Merion Station are calculated based on the assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Merion Station'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 Merion Station 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
Merion Station, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
4%
Estimate Property Tax Bill
$11,082
Ownwell’s Merion Station Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Merion Station with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Merion Station 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 Merion Station, Pennsylvania
Property taxes in Merion Station, Pennsylvania, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Merion Station is 4.00%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Merion Station set these rates annually, and they can vary significantly across different neighborhoods. Each year, Merion Station 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 Merion Station's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 19066 zip code has both the highest and lowest median property tax rates at 4.00%. Understanding how these cities compare with Merion Station 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 Merion Station 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 Merion Station, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19066 | 4.00% | 4.00% | 4.00% | 4.00% | 4.00% |
Source: Ownwell
Property Tax Assessment Values Across Merion Station, Pennsylvania
In Merion Station, 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 Merion Station, 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 Merion Station helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Merion Station is $277,040, with the median tax bill ranging from $7,864 at the 25th percentile to $18,363 at the 90th percentile. The zip code with both the highest and lowest median tax bill is 19066, at $11,088.
Property Tax Assessment Values Across Merion Station, Pennsylvania
Source: Ownwell
$33,380
$293,475
$553,570
Average Merion Station Assessed Value
$277,040
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 Merion Station, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19066 | $132,350 | $196,495 | $277,040 | $346,955 | $458,840 |
Source: Ownwell
Property Tax Bills Across Merion Station, Pennsylvania
Property tax bills in Merion Station, Montgomery County, PA, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county's assessment office and reflects the property's market value. Homeowners in Merion Station face property tax bills that vary significantly, with the 25th percentile tax bill at $7,864 and the 75th percentile tax bill reaching $13,886. For those in the 90th percentile, the tax bill can be as high as $18,363. The median home price in Merion Station is $277,040, and the property tax rate in this area is notably higher than the national median property tax rate of 0.99%. This means that homeowners in Merion Station often pay more in property taxes compared to other parts of the country. These higher tax bills can impact homeowners by increasing their annual housing costs, which may affect their overall financial planning and budgeting.
Average Merion Station Tax Bill
$11,088
Average Montgomery County Tax Bill
$5,764
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Merion Station, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19066 | $5,298 | $7,864 | $11,088 | $13,886 | $18,363 |
Source: Ownwell