Penn Wynne, Pennsylvania Property Taxes
The median property tax rate in Penn Wynne, PA is 4.00%, significantly higher than both the national median of 0.99% and Pennsylvania's state median of 2.81%. With the median home value in Penn Wynne at $415,320, the typical annual property tax bill reaches $16,622, far exceeding the national median of $2,690. Property taxes in Penn Wynne are calculated based on the assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Penn Wynne's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Penn Wynne or another part of Montgomery County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Penn Wynne, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
4%
Estimate Property Tax Bill
$16,613
Ownwell’s PENN WYNNE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in PENN WYNNE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in PENN WYNNE 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 Wynne, Pennsylvania
Property taxes in Penn Wynne, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Penn Wynne is 4.00%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Penn Wynne set these rates annually, and they can vary significantly across different neighborhoods. Each year, Penn Wynne 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 Wynne's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the zip code 19096 has the highest median property tax rate of 4.00%, while the lowest median tax rate is also in zip code 19096 at 4.00%. Understanding how these areas compare with Penn Wynne 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 Wynne 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 Wynne, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19096 | 4.00% | 4.00% | 4.00% | 4.00% | 4.00% |
Source: Ownwell
Property Tax Assessment Values Across Penn Wynne, Pennsylvania
In Penn Wynne, 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 Penn Wynne, 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 Wynne helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in the area is $415,320, with the highest and lowest median tax bills both recorded at $16,622 in the 19096 zip code.
Property Tax Assessment Values Across Penn Wynne, Pennsylvania
Source: Ownwell
$33,380
$293,475
$553,570
Average Penn Wynne Assessed Value
$415,320
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 Penn Wynne, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19096 | $391,872 | $400,665 | $415,320 | $415,380 | $415,416 |
Source: Ownwell
Property Tax Bills Across Penn Wynne, Pennsylvania
In Penn Wynne, PA, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county's property assessor and is intended to reflect the market value of the property. Homeowners in Montgomery County, where Penn Wynne is located, experience property tax rates that are significantly higher than the national median of 0.99%. For example, the median home price in Penn Wynne is $415,320, resulting in a substantial tax bill for homeowners. Factors such as location, property size, and home improvements can influence the assessed value, thereby affecting the tax bill. In Penn Wynne, the tax bills range from the 25th percentile at $16,036 to the 75th percentile at $16,624, with even the 90th percentile reaching $16,626. This high tax burden can impact homeowners' financial planning and overall cost of living. Understanding these factors is crucial for homeowners to manage their expenses effectively and anticipate future tax obligations.
Average Penn Wynne Tax Bill
$16,622
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 Wynne, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19096 | $15,684 | $16,036 | $16,622 | $16,624 | $16,626 |
Source: Ownwell