Bala Cynwyd, Pennsylvania Property Taxes
The median property tax rate in Bala Cynwyd, 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 Bala Cynwyd, the typical annual property tax bill reaches $7,708, far exceeding the national median of $2,690. Property taxes in Bala Cynwyd 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 Bala Cynwyd'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 Bala Cynwyd 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
Bala Cynwyd, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
4%
Estimate Property Tax Bill
$7,708
Ownwell’s Bala Cynwyd Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bala Cynwyd with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bala Cynwyd 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 Bala Cynwyd, Pennsylvania
Property taxes in Bala Cynwyd, Pennsylvania, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bala Cynwyd is 4.00%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Bala Cynwyd set these rates annually, and they can vary across different neighborhoods. Each year, Bala Cynwyd 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 Bala Cynwyd's effective property tax rate to other areas in Pennsylvania and the national median. For comparison, the 19004 zip code has both the highest and lowest median property tax rate of 4.00%. Understanding how these cities compare with Bala Cynwyd 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 Bala Cynwyd 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 Bala Cynwyd, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19004 | 4.00% | 4.00% | 4.00% | 4.00% | 4.00% |
Source: Ownwell
Property Tax Assessment Values Across Bala Cynwyd, Pennsylvania
In Bala Cynwyd, 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. Assessment notices in Bala Cynwyd 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 Bala Cynwyd helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 19004 has the highest and lowest median tax bill at $7,708.
Property Tax Assessment Values Across Bala Cynwyd, Pennsylvania
Source: Ownwell
$33,380
$293,475
$553,570
Average Bala Cynwyd Assessed Value
$192,690
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 Bala Cynwyd, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19004 | $70,680 | $120,610 | $192,690 | $262,030 | $326,796 |
Source: Ownwell
Property Tax Bills Across Bala Cynwyd, Pennsylvania
In Bala Cynwyd, Montgomery County, PA, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county's property assessment office and is meant to reflect the market value of the home. Once the assessed value is established, it is multiplied by the local tax rate to calculate the annual property tax bill. Several factors influence the assessed value, including the property's location, size, and condition. In Bala Cynwyd, homeowners can expect a median home price of approximately $192,690. The property tax bills can vary significantly, with the 25th percentile paying around $4,824 and the 75th percentile facing bills up to $10,487. Those at the 90th percentile may see tax bills as high as $13,078. These property tax bills can have a substantial impact on homeowners, affecting their monthly expenses and overall financial planning. With a median tax bill of $7,708, Bala Cynwyd's property taxes are considerably higher than the national median property tax rate of 0.99%, highlighting the importance of understanding local tax obligations.
Average Bala Cynwyd Tax Bill
$7,708
Average Montgomery County Tax Bill
$5,764
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Bala Cynwyd, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19004 | $2,829 | $4,824 | $7,708 | $10,487 | $13,078 |
Source: Ownwell