Spring Mount, Pennsylvania Property Taxes
The median property tax rate in Spring Mount, PA is 4.29%, significantly higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Spring Mount, the typical annual property tax bill reaches $4,652, far exceeding the national median of $2,690. Property taxes in Spring Mount 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 Spring Mount'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 Spring Mount 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
Spring Mount, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
4.29%
Estimate Property Tax Bill
$4,832
Ownwell’s Spring Mount Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Spring Mount with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Spring Mount 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 Spring Mount, Pennsylvania
Property taxes in Spring Mount, Pennsylvania, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Spring Mount is 4.29%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Spring Mount set these rates annually, and they can vary significantly across different neighborhoods. Each year, Spring Mount 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 Spring Mount's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the zip code 19478 has the highest median property tax rate of 4.29%, while the same zip code also has the lowest median tax rate of 4.29%. Understanding how these cities compare with Spring Mount 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 Spring Mount Tax Rate
4.29%
Average Montgomery County Tax Rate
3.94%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Spring Mount, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19478 | 4.29% | 4.29% | 4.29% | 4.29% | 4.29% |
Source: Ownwell
Property Tax Assessment Values Across Spring Mount, Pennsylvania
In Spring Mount, 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 Spring Mount, 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 Spring Mount helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Spring Mount are both $4,652, found in the 19478 zip code.
Property Tax Assessment Values Across Spring Mount, Pennsylvania
Source: Ownwell
$33,380
$293,475
$553,570
Average Spring Mount Assessed Value
$112,645
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 Spring Mount, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19478 | $94,840 | $100,292 | $112,645 | $135,150 | $175,230 |
Source: Ownwell
Property Tax Bills Across Spring Mount, Pennsylvania
In Spring Mount, Montgomery County, PA, 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 local tax rate to determine the annual tax bill. The median home price in Spring Mount is $112,645, and the tax rate is applied to this value to calculate the tax bill. Factors considered in the assessment include the property's market value, location, and any improvements made to the property. Homeowners in Spring Mount can expect tax bills to vary significantly; for instance, the 25th percentile tax bill is $4,190, while the 75th percentile reaches $5,586. At the higher end, the 90th percentile tax bill can be as much as $7,499. These property taxes fund local services such as schools, public safety, and infrastructure, directly affecting homeowners by contributing to the quality of community services and amenities. Compared to the national median property tax rate of 0.99%, Spring Mount's rates are relatively high, reflecting the community's investment in local services.
Average Spring Mount Tax Bill
$4,652
Average Montgomery County Tax Bill
$5,764
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Spring Mount, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19478 | $3,960 | $4,190 | $4,652 | $5,586 | $7,499 |
Source: Ownwell