Silver Spring Township, Pennsylvania Property Taxes
The median property tax rate in Silver Spring Township, PA is 1.46%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Silver Spring Township, the typical annual property tax bill reaches $2,610, slightly below the national median of $2,690. Property taxes in Silver Spring Township 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 Silver Spring Township'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 Silver Spring Township 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
Silver Spring Township, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.46%
Estimate Property Tax Bill
$2,618
Ownwell’s Silver Spring Township Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Silver Spring Township with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Silver Spring Township 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 Silver Spring Township, Pennsylvania
Property taxes in Silver Spring Township, Pennsylvania, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Silver Spring Township is 1.46%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Silver Spring Township set these rates annually, and they can vary across different neighborhoods. Each year, Silver Spring Township 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 Silver Spring Township's effective property tax rate to other areas in Pennsylvania and the national median. For comparison, the zip code 17050 has the highest median property tax rate of 1.46%, while the zip code 17050 also has the lowest median tax rate of 1.46%. Understanding how these areas compare with Silver Spring Township provides valuable insights into the varying tax landscape across Cumberland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Silver Spring Township Tax Rate
1.46%
Average Cumberland County Tax Rate
1.84%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Silver Spring Township, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17050 | 1.46% | 1.46% | 1.46% | 1.46% | 1.46% |
Source: Ownwell
Property Tax Assessment Values Across Silver Spring Township, Pennsylvania
In Silver Spring Township, 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 Cumberland 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 Silver Spring Township, 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 Silver Spring Township helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills are both $2,610 in the 17050 zip code, reflective of the township's uniform property tax rates.
Property Tax Assessment Values Across Silver Spring Township, Pennsylvania
Source: Ownwell
$114,900
$366,200
$617,500
Average Silver Spring Township Assessed Value
$179,300
Average Cumberland County Assessed Value
$182,700
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Silver Spring Township, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17050 | $179,300 | $179,300 | $179,300 | $179,300 | $179,300 |
Source: Ownwell
Property Tax Bills Across Silver Spring Township, Pennsylvania
In Silver Spring Township, Cumberland County, PA, property tax bills are calculated based on the assessed value of a home, which is determined by local government assessors. The assessed value is then multiplied by the local tax rate to arrive at the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value. For homeowners in Silver Spring Township, the median home price is $179,300, with tax bills typically around $2,610. This rate is significantly higher than the national median property tax rate of 0.99%, reflecting the specific economic and infrastructural needs of the area. Homeowners should be aware that their property tax bill directly impacts their annual expenses and should plan accordingly. The uniformity of tax bills in this region indicates a consistent assessment process, ensuring that all homeowners contribute fairly to local services and amenities. Understanding these factors can help homeowners manage their finances and anticipate future tax obligations.
Average Silver Spring Township Tax Bill
$2,610
Average Cumberland County Tax Bill
$3,176
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Silver Spring Township, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17050 | $2,610 | $2,610 | $2,610 | $2,610 | $2,610 |
Source: Ownwell