Madison Township, Pennsylvania Property Taxes
The median property tax rate in Madison Township, PA is 2.19%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Madison Township, the typical annual property tax bill reaches $5,586, exceeding the national median of $2,690. Property taxes in Madison Township 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 Madison Township'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 Madison Township 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
Madison Township, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.19%
Estimate Property Tax Bill
$5,576
Ownwell’s Madison Township Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Madison Township with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Madison Township 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 Madison Township, Pennsylvania
Property taxes in Madison Township, Pennsylvania, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Madison Township is 2.19%, significantly higher than both the Pennsylvania state median of 1.35% and the U.S. national median of 0.99%. Local government entities within Madison Township set these rates annually, and they can vary significantly across different neighborhoods. Each year, Madison Township 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 Madison Township's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 18444 zip code has the highest median property tax rate of 2.19%, while the lowest median tax rate is also 2.19%. Understanding how these cities compare with Madison Township provides valuable insights into the varying tax landscape across Wayne County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Madison Township Tax Rate
2.19%
Average Wayne County Tax Rate
2.19%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Madison Township, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18444 | 2.17% | 2.17% | 2.19% | 2.19% | 2.19% |
Source: Ownwell
Property Tax Assessment Values Across Madison Township, Pennsylvania
In Madison Township, 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 Wayne 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 Madison Township, 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. The median home price in the area is $254,600, with tax bills ranging from $1,424 at the 25th percentile to $6,156 at the 90th percentile. 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 Madison Township helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Madison Township, Pennsylvania
Source: Ownwell
$7,000
$250,600
$494,200
Average Madison Township Assessed Value
$254,600
Average Wayne County Assessed Value
$179,900
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Madison Township, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18444 | $20,300 | $65,650 | $254,600 | $272,550 | $280,600 |
Source: Ownwell
Property Tax Bills Across Madison Township, Pennsylvania
Property tax bills in Madison Township, Wayne County, PA, are determined by assessing the market value of a property and applying the local tax rate to this assessed value. The median home price in Madison Township is $254,600, and the property tax rate is applied to this value to calculate the annual tax bill. Factors such as property location, size, and improvements can influence the assessed value, thereby affecting the tax bill. Homeowners in Madison Township can expect property tax bills to vary significantly. For instance, the 25th percentile tax bill is $1,424, while the 75th percentile tax bill is $5,980, and the 90th percentile tax bill reaches up to $6,156. This variation shows the impact of differing property values and assessments within the township. Comparing these figures to the national median property tax rate of 0.99%, it is evident that homeowners in Madison Township may experience higher tax bills, reflecting the local property values and tax rates.
Average Madison Township Tax Bill
$5,586
Average Wayne County Tax Bill
$4,013
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Madison Township, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18444 | $440 | $1,424 | $5,586 | $5,980 | $6,156 |
Source: Ownwell