Gulph Mills, Pennsylvania Property Taxes
The median property tax rate in Gulph Mills, PA is 2.97%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Gulph Mills at $252,455, the typical annual property tax bill reaches $7,504, far exceeding the national median of $2,690. Property taxes in Gulph Mills 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 Gulph Mills' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Gulph Mills 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
Gulph Mills, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.97%
Estimate Property Tax Bill
$7,498
Ownwell’s Gulph Mills Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gulph Mills with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gulph Mills 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 Gulph Mills, Pennsylvania
Property taxes in Gulph Mills, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gulph Mills is 2.97%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Gulph Mills set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gulph Mills 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 Gulph Mills' effective property tax rate to other areas in Pennsylvania and the national median. For comparison, the 19428 zip code has the highest median property tax rate of 2.97%, while the same zip code also has the lowest median tax rate of 2.97%. Understanding how these areas compare with Gulph Mills 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 Gulph Mills Tax Rate
2.97%
Average Montgomery County Tax Rate
3.94%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gulph Mills, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19428 | 2.97% | 2.97% | 2.97% | 2.97% | 2.97% |
Source: Ownwell
Property Tax Assessment Values Across Gulph Mills, Pennsylvania
In Gulph Mills, 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 Gulph Mills, 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 Gulph Mills is $252,455, with tax bills ranging from $6,408 at the 25th percentile to $8,044 at the 75th percentile, and reaching up to $8,189 at the 90th percentile. The zip code 19428 has both the highest and lowest median tax bill at $7,504. By understanding 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Gulph Mills, Pennsylvania
Source: Ownwell
$33,380
$293,475
$553,570
Average Gulph Mills Assessed Value
$252,455
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 Gulph Mills, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19428 | $212,849 | $215,542 | $252,455 | $270,562 | $275,441 |
Source: Ownwell
Property Tax Bills Across Gulph Mills, Pennsylvania
In Gulph Mills, Montgomery County, PA, property tax bills are calculated based on the assessed value of a homeowner's property. This assessed value is determined by the county's assessment office and is not necessarily equivalent to the market value of the home. The property tax rate in this area is applied to the assessed value to determine the annual tax bill. Several factors influence the tax bill, including the property's location, size, and improvements. For instance, the median home price in Gulph Mills is $252,455, and tax bills can vary significantly. The 25th percentile tax bill stands at $6,408, while the 75th percentile reaches $8,044. At the 90th percentile, homeowners might see tax bills as high as $8,189. These property taxes are crucial for funding local services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, homeowners in Gulph Mills may find their tax bills to be relatively high, reflecting the area's property values and local tax rates.
Average Gulph Mills Tax Bill
$7,504
Average Montgomery County Tax Bill
$5,764
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Gulph Mills, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19428 | $6,327 | $6,408 | $7,504 | $8,044 | $8,189 |
Source: Ownwell