Limerick, Pennsylvania Property Taxes
The median property tax rate in Limerick, PA is 3.69%, significantly higher than both the national median of 0.99% and Pennsylvania's state median of 2.81%. With a median home value of $138,600 in Limerick, the typical annual property tax bill amounts to $5,113, far exceeding the national median of $2,690. Property taxes in Limerick are calculated based on the assessed value, which often falls below the market value due to exemptions like primary residence and agricultural exemptions. Understanding Limerick's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Limerick 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
Limerick, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.69%
Estimate Property Tax Bill
$5,114
Ownwell’s Limerick Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Limerick with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Limerick 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 Limerick, Pennsylvania
Property taxes in Limerick, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Limerick is 1.55%, which is higher than both the Pennsylvania state median of 1.35% and the U.S. national median of 0.99%. Local government entities within Limerick set these rates annually, and they can vary significantly across different neighborhoods. Each year, Limerick 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 Limerick's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 19468 zip code has the highest median property tax rate of 1.55%, while the 19468 zip code also has the lowest median tax rate of 1.55%. Understanding how these cities compare with Limerick 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 Limerick Tax Rate
3.69%
Average Montgomery County Tax Rate
3.94%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Limerick, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19468 | 3.69% | 3.69% | 3.69% | 3.69% | 3.69% |
Source: Ownwell
Property Tax Assessment Values Across Limerick, Pennsylvania
Understanding the difference between "market value" and "assessed value" is essential for comprehending property taxes in Limerick, PA. 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 local appraisal district for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on state 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 Limerick, 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. 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 Limerick helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $5,113, found in zip code 19468.
Average Limerick Assessed Value
$138,600
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 Limerick, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19468 | $114,688 | $126,145 | $138,600 | $189,112 | $269,073 |
Source: Ownwell
Property Tax Bills Across Limerick, Pennsylvania
In Limerick, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the tax rate set by Montgomery County. The median home price in Limerick is $138,600, and homeowners can expect to pay a significant amount in property taxes, with the median tax bill in the highest and lowest ranges both being $5,113. Several factors influence the tax bill, including the home's market value, any applicable exemptions, and the specific tax rate for the area. For instance, the 25th percentile tax bill is $4,654, while the 75th percentile reaches $6,976, and the 90th percentile can go up to $9,926. These variations illustrate how differences in property values and exemptions can impact the overall tax burden. Compared to the national median property tax rate of 0.99%, Limerick's property tax rates can significantly affect homeowners, making it crucial for them to understand their tax assessments and explore potential exemptions.
Average Limerick Tax Bill
$5,113
Average Montgomery County Tax Bill
$5,764
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Limerick, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19468 | $4,232 | $4,654 | $5,113 | $6,976 | $9,926 |
Source: Ownwell