Colmar, Pennsylvania Property Taxes
The median property tax rate in Colmar, PA is 3.83%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Colmar, the typical annual property tax bill reaches $6,610, exceeding the national median of $2,690. Property taxes in Colmar 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 Colmar'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 Colmar 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
Colmar, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.83%
Estimate Property Tax Bill
$6,636
Ownwell’s Colmar Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Colmar with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Colmar 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 Colmar, Pennsylvania
Property taxes in Colmar, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Colmar is 3.83%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Colmar set these rates annually, and they can vary significantly across different neighborhoods. Each year, Colmar 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 Colmar's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 18915 zip code has the highest median property tax rate of 3.83%, while the same zip code also has the lowest median tax rate of 3.83%. Understanding how these areas compare with Colmar 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 Colmar Tax Rate
3.83%
Average Montgomery County Tax Rate
3.94%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Colmar, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18915 | 3.56% | 3.56% | 3.83% | 3.83% | 3.83% |
Source: Ownwell
Property Tax Assessment Values Across Colmar, Pennsylvania
In Colmar, 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 Colmar, 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. For instance, the median home price in Colmar is $173,260, with tax bills ranging significantly. The 25th percentile tax bill is $5,570, while the 75th percentile tax bill reaches $7,129. 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 Colmar helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Colmar Assessed Value
$173,260
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 Colmar, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18915 | $109,784 | $148,160 | $173,260 | $193,380 | $207,430 |
Source: Ownwell
Property Tax Bills Across Colmar, Pennsylvania
In Colmar, 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 assessment office and is meant to reflect the market value of the property. The local tax rate is then applied to this assessed value to calculate the annual tax bill. Several factors influence the assessed value, including the property's location, size, age, and condition. For homeowners in Colmar, the median home price is $173,260, which plays a significant role in determining their tax bill. Homeowners in the 25th percentile can expect a tax bill around $5,570, while those in the 75th percentile may see bills up to $7,129. At the 90th percentile, tax bills can reach approximately $7,653. Comparatively, the national median property tax rate is 0.99%, making Colmar's tax rates relatively high. This affects homeowners by adding a substantial annual expense, which can impact overall housing affordability and long-term financial planning.
Average Colmar Tax Bill
$6,610
Average Montgomery County Tax Bill
$5,764
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Colmar, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18915 | $4,206 | $5,570 | $6,610 | $7,129 | $7,653 |
Source: Ownwell