Salford, Pennsylvania Property Taxes
The median property tax rate in Salford, PA is 3.76%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Salford, the typical annual property tax bill reaches $5,003, exceeding the national median of $2,690. Property taxes in Salford 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 Salford'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 Salford 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
Salford, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.76%
Estimate Property Tax Bill
$5,007
Ownwell’s Salford Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Salford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Salford 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 Salford, Pennsylvania
Property taxes in Salford, Pennsylvania, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Salford is 2.10%, significantly higher than both the Pennsylvania state median of 1.35% and the U.S. national median of 0.99%. Local government entities within Salford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Salford 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 Salford's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 18957 zip code has the highest median property tax rate of 2.10%, while the same zip code also has the lowest median tax rate of 2.10%. Understanding how these cities compare with Salford 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 Salford Tax Rate
3.76%
Average Montgomery County Tax Rate
3.94%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Salford, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18957 | 3.61% | 3.76% | 3.76% | 3.76% | 3.76% |
Source: Ownwell
Property Tax Assessment Values Across Salford, Pennsylvania
In Salford, 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 Salford, 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 Salford helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in Salford are both $5003, found in the zip code 18957.
Average Salford Assessed Value
$133,165
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 Salford, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18957 | $84,083 | $118,598 | $133,165 | $155,425 | $177,054 |
Source: Ownwell
Property Tax Bills Across Salford, Pennsylvania
In Salford, Montgomery County, 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 assessor's office and is meant to reflect the market value of the property. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For homeowners in Salford, the median home price is $133,165, and property tax bills can vary significantly. The tax bill at the 25th percentile is $4,456, while at the 75th percentile, it rises to $5,771. The top 10% of tax bills reach as high as $5,972. These figures highlight the substantial impact property taxes can have on homeowners, especially when compared to the national median property tax rate of 0.99%. Understanding these factors is crucial for homeowners as they navigate their financial planning and budgeting for annual property tax expenses.
Average Salford Tax Bill
$5,003
Average Montgomery County Tax Bill
$5,764
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Salford, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18957 | $3,155 | $4,456 | $5,003 | $5,771 | $5,972 |
Source: Ownwell