Penn Valley, Pennsylvania Property Taxes
The median property tax rate in Penn Valley, PA is 4.00%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Penn Valley at $292,020, the typical annual property tax bill reaches $11,687, far exceeding the national median of $2,690. Property taxes in Penn Valley 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 Penn Valley'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 Penn Valley or another part of Montgomery County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Penn Valley, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
4%
Estimate Property Tax Bill
$11,681
Ownwell’s Penn Valley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Penn Valley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Penn Valley 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 Penn Valley, Pennsylvania
Property taxes in Penn Valley, Pennsylvania, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Penn Valley is 1.35%, significantly higher than both the Pennsylvania state median of 1.35% and the U.S. national median of 0.99%. Local government entities within Penn Valley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Penn Valley 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 Penn Valley's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 19406 zip code has the highest median property tax rate of 1.35%, while the 19406 zip code has the lowest median tax rate of 1.35%. Understanding how these cities compare with Penn Valley 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 Penn Valley 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 Penn Valley, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19072 | 4.00% | 4.00% | 4.00% | 4.00% | 4.00% |
Source: Ownwell
Property Tax Assessment Values Across Penn Valley, Pennsylvania
In Penn Valley, 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 local county 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 Penn Valley, 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 Penn Valley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $11,687 in zip code 19072, while the lowest median tax bill is also $11,687 in the same zip code.
Property Tax Assessment Values Across Penn Valley, Pennsylvania
Source: Ownwell
$33,380
$293,475
$553,570
Average Penn Valley Assessed Value
$292,020
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 Penn Valley, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19072 | $82,220 | $113,485 | $292,020 | $397,095 | $518,900 |
Source: Ownwell
Property Tax Bills Across Penn Valley, Pennsylvania
In Penn Valley, Montgomery County, PA, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the county's property tax rate to determine the annual tax bill. For example, with a median home price of $292,020, homeowners can expect varying tax bills depending on their property's value and the specific tax rate applied. Several factors influence the final tax bill, including the property's assessed value, local tax rates, and any applicable exemptions or deductions. In Penn Valley, tax bills can range significantly, with the 25th percentile at $4,541 and the 75th percentile reaching $15,892. The highest median tax bill in the area is $11,687, found in the 19072 zip code. These property taxes play a crucial role in funding local services such as schools, infrastructure, and emergency services, directly impacting the community's quality of life. Homeowners must factor these costs into their overall housing expenses, which can vary widely within the region.
Average Penn Valley Tax Bill
$11,687
Average Montgomery County Tax Bill
$5,764
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Penn Valley, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19072 | $3,291 | $4,541 | $11,687 | $15,892 | $20,767 |
Source: Ownwell