Philadelphia, Pennsylvania Property Taxes
The median property tax rate in Philadelphia, PA is 4.55%, significantly higher than both the national median of 0.99% and Pennsylvania's state median of 2.81%. With a median home value of $240,920 in Philadelphia, the typical annual property tax bill reaches $10,953, far exceeding the national median of $2,690. Property taxes in Philadelphia are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence exemption. Understanding Philadelphia'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 Philadelphia or another part of the city, gaining insights into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Philadelphia, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
4.55%
Estimate Property Tax Bill
$10,962
Ownwell’s Philadelphia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Philadelphia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Philadelphia 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 Philadelphia, Pennsylvania
Property taxes in Philadelphia, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Philadelphia is 4.55%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Philadelphia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Philadelphia 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 Philadelphia's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the zip code 19118 has the highest median property tax rate of 4.55%, while zip code 19244 has the lowest median tax rate of 3.03%. Understanding how these areas compare with Philadelphia 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 Philadelphia Tax Rate
4.55%
Average Montgomery County Tax Rate
3.94%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Philadelphia, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19106 | 3.35% | 3.35% | 3.35% | 3.35% | 3.35% |
| 19115 | 4.44% | 4.44% | 4.44% | 4.44% | 4.44% |
| 19118 | 4.55% | 4.55% | 4.55% | 4.55% | 4.55% |
| 19128 | 4.55% | 4.55% | 4.55% | 4.55% | 4.55% |
| 19130 | 4.44% | 4.44% | 4.44% | 4.44% | 4.44% |
| 19244 | 3.03% | 3.03% | 3.03% | 3.03% | 3.03% |
Source: Ownwell
Property Tax Assessment Values Across Philadelphia, Pennsylvania
Understanding the distinction between "market value" and "assessed value" is essential for comprehending property taxes in Philadelphia. 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 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 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 zip code with the highest median tax bill in Philadelphia is 19115, amounting to $22,744, while the lowest is 19244, with a median tax bill of $2,085. 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 Philadelphia, Pennsylvania
Source: Ownwell
$33,380
$293,475
$553,570
Average Philadelphia Assessed Value
$240,920
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 Philadelphia, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19106 | $75,000 | $75,000 | $75,000 | $75,000 | $75,000 |
| 19115 | $512,500 | $512,500 | $512,500 | $512,500 | $512,500 |
| 19118 | $145,192 | $170,110 | $224,515 | $311,075 | $509,293 |
| 19128 | $239,031 | $259,515 | $478,355 | $731,942 | $852,916 |
| 19130 | $80,190 | $80,190 | $80,190 | $80,190 | $80,190 |
| 19244 | $68,870 | $68,870 | $68,870 | $68,870 | $68,870 |
Source: Ownwell
Property Tax Bills Across Philadelphia, Pennsylvania
Property tax bills in Philadelphia, located in Montgomery County, PA, 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, which evaluates the property's market value. Homeowners in Philadelphia face a median property tax rate of 0.99%, aligning with the national average. The tax bill can vary significantly depending on the property's assessed value. For instance, the 25th percentile of tax bills stands at $7,734, while the 75th percentile reaches $20,787. The top 10% of property tax bills can soar to $33,955. Notably, the highest median tax bill in Philadelphia is $22,744 in the 19115 zip code, contrasting sharply with the lowest median tax bill of $2,085 in the 19244 zip code. These variations in property tax bills impact homeowners differently, influencing their overall financial planning and the affordability of homeownership. High property taxes can be a significant burden, while lower taxes may provide some financial relief.
Average Philadelphia Tax Bill
$10,953
Average Montgomery County Tax Bill
$5,764
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Philadelphia, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19106 | $2,515 | $2,515 | $2,515 | $2,515 | $2,515 |
| 19115 | $22,744 | $22,744 | $22,744 | $22,744 | $22,744 |
| 19118 | $6,601 | $7,734 | $10,207 | $14,143 | $23,154 |
| 19128 | $10,867 | $11,799 | $21,748 | $32,992 | $34,638 |
| 19130 | $3,559 | $3,559 | $3,559 | $3,559 | $3,559 |
| 19244 | $2,085 | $2,085 | $2,085 | $2,085 | $2,085 |
Source: Ownwell