Hatboro, Pennsylvania Property Taxes
The median property tax rate in Hatboro, PA is 4.56%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Hatboro at $128,940, the typical annual property tax bill reaches $5,692, exceeding the national median of $2,690. Property taxes in Hatboro 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 Hatboro'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 Hatboro 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
Hatboro, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
4.56%
Estimate Property Tax Bill
$5,880
Ownwell’s Hatboro Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hatboro with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hatboro 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 Hatboro, Pennsylvania
Property taxes in Hatboro, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hatboro is 4.56%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Hatboro set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hatboro 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 Hatboro's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 19040 zip code has both the highest and lowest median property tax rate of 4.56%. Understanding how these cities compare with Hatboro 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 Hatboro Tax Rate
4.56%
Average Montgomery County Tax Rate
3.94%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hatboro, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19040 | 3.74% | 4.56% | 4.56% | 4.61% | 4.61% |
Source: Ownwell
Property Tax Assessment Values Across Hatboro, Pennsylvania
In Hatboro, 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 Hatboro, 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 Hatboro is $128,940, with tax bills ranging from $5,023 at the 25th percentile to $8,109 at the 90th percentile. The highest and lowest median tax bills both stand at $5,692 in the 19040 zip code. 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 Hatboro helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Hatboro Assessed Value
$128,940
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 Hatboro, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19040 | $96,540 | $113,370 | $128,940 | $156,425 | $188,335 |
Source: Ownwell
Property Tax Bills Across Hatboro, Pennsylvania
In Hatboro, located in Montgomery County, PA, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessment considers factors such as the property's market value, location, and any improvements made. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual tax bill. For example, the median home price in Hatboro is $128,940. Homeowners in the 25th percentile can expect a tax bill of around $5,023, while those in the 75th percentile might see bills closer to $6,734. The 90th percentile tax bill reaches up to $8,109. This variability shows how different factors, including property value and specific local rates, influence the final tax amount. With the national median property tax rate at 0.99%, Hatboro's tax rates can significantly impact homeowners, potentially making property taxes a substantial part of annual homeownership costs.
Average Hatboro Tax Bill
$5,692
Average Montgomery County Tax Bill
$5,764
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Hatboro, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19040 | $4,315 | $5,023 | $5,692 | $6,734 | $8,109 |
Source: Ownwell