Fairview Village, Pennsylvania Property Taxes
The median property tax rate in Fairview Village, PA is 3.63%, significantly higher than both the national median of 0.99% and Pennsylvania's state median of 2.81%. With a median home value of $244,110 in Fairview Village, the typical annual property tax bill reaches $8,868, far exceeding the national median of $2,690. Property taxes in Fairview Village are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Fairview Village'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 Fairview Village or another part of Montgomery County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Fairview Village, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.63%
Estimate Property Tax Bill
$8,861
Ownwell’s Fairview Village Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fairview Village with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fairview Village 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 Fairview Village, Pennsylvania
Property taxes in Fairview Village, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fairview Village is 1.82%, significantly higher than both the Pennsylvania state median of 1.46% and the U.S. national median of 0.99%. Local government entities within Fairview Village set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fairview Village 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 Fairview Village's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 19409 zip code has the highest median property tax rate of 1.82%, while the same zip code also has the lowest median tax rate of 1.82%. Understanding how these areas compare with Fairview Village 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 Fairview Village Tax Rate
3.63%
Average Montgomery County Tax Rate
3.94%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fairview Village, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19409 | 1.53% | 2.32% | 3.63% | 3.63% | 3.63% |
Source: Ownwell
Property Tax Assessment Values Across Fairview Village, Pennsylvania
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Fairview Village, 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 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 in Fairview Village 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. For instance, the zip code 19409 has the highest and lowest median tax bill at $8,868. 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 Fairview Village, Pennsylvania
Source: Ownwell
$33,380
$293,475
$553,570
Average Fairview Village Assessed Value
$244,110
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 Fairview Village, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19409 | $190,638 | $210,690 | $244,110 | $579,470 | $780,686 |
Source: Ownwell
Property Tax Bills Across Fairview Village, Pennsylvania
In Fairview Village, PA, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Fairview Village, the median home price stands at $244,110, which serves as a crucial factor in determining their tax obligations. Tax bills in Fairview Village can vary significantly, with the 25th percentile tax bill at $7,654 and the 75th percentile reaching $9,044. At the higher end, the 90th percentile tax bill is $9,150. Comparatively, the highest median tax bill in the area is recorded at $8,868 in the 19409 ZIP code. These figures highlight the variability in tax burdens depending on property values and specific local rates. Understanding these factors helps homeowners anticipate their annual tax responsibilities and plan their finances accordingly. Properly assessed property taxes ensure that local services and infrastructure are adequately funded, directly impacting the community's quality of life.
Average Fairview Village Tax Bill
$8,868
Average Montgomery County Tax Bill
$5,764
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Fairview Village, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19409 | $6,926 | $7,654 | $8,868 | $9,044 | $9,150 |
Source: Ownwell