Bryn Mawr, Montgomery County, Pennsylvania Property Taxes
The median property tax rate in Bryn Mawr, PA is 4.00%, significantly higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Bryn Mawr at $406,670, the typical annual property tax bill reaches $16,275, far exceeding the national median of $2,690. Property taxes in Bryn Mawr are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Bryn Mawr'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 Bryn Mawr 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
Bryn Mawr, Montgomery County, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
4%
Estimate Property Tax Bill
$16,267
$15,095
Ownwell’s Bryn Mawr Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bryn Mawr with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bryn Mawr 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 Bryn Mawr, Montgomery County, Pennsylvania
Property taxes in Bryn Mawr, Pennsylvania, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bryn Mawr is 4.00%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Bryn Mawr set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bryn Mawr 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 Bryn Mawr's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 19010 zip code has the highest median property tax rate of 4.00%, while the same zip code also has the lowest median tax rate of 4.00%. Understanding how these cities compare with Bryn Mawr 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 Bryn Mawr Tax Rate
4.00%
Average Montgomery County Tax Rate
3.94%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bryn Mawr, Montgomery County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19010 | 4.00% | 4.00% | 4.00% | 4.00% | 4.00% |
Source: Ownwell
Property Tax Assessment Values Across Bryn Mawr, Montgomery County, Pennsylvania
In Bryn Mawr, 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 Bryn Mawr, 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. Bryn Mawr's highest median tax bill is $16,275 in the 19010 zip code, while the lowest median tax bill is also $16,275 in the same zip code. 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 Bryn Mawr, Montgomery County, Pennsylvania
Source: Ownwell
$67,160
$296,195
$525,230
Average Bryn Mawr Assessed Value
$406,670
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 Bryn Mawr, Montgomery County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19010 | $90,052 | $140,400 | $406,670 | $599,445 | $838,428 |
Source: Ownwell
Property Tax Bills Across Bryn Mawr, Montgomery County, Pennsylvania
In Bryn Mawr, located in Montgomery County, PA, property tax bills are determined based on the assessed value of a home, which is then multiplied by the local tax rate. Homeowners in Bryn Mawr face a median property tax rate that is significantly higher than the national median of 0.99%. The median home price in Bryn Mawr stands at $406,670, leading to substantial tax bills for residents. A variety of factors are considered when calculating the tax bill, including the assessed value of the property and any applicable exemptions or deductions. For instance, tax bills in the 25th percentile are around $5,619, while those in the 75th percentile can soar to $23,965. The 90th percentile sees tax bills as high as $33,558. This wide range affects homeowners differently, with those in higher-valued properties bearing a more considerable tax burden. Consequently, understanding these factors is crucial for homeowners aiming to manage their property tax liabilities effectively.
Property Tax Bills Across Bryn Mawr, Montgomery County, Pennsylvania
Source: Ownwell
$2,471
$12,110
$21,748
Average Bryn Mawr Tax Bill
$16,275
Average Montgomery County Tax Bill
$5,764
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Bryn Mawr, Montgomery County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19010 | $3,604 | $5,619 | $16,275 | $23,965 | $33,558 |
Source: Ownwell