Fort Washington, Pennsylvania Property Taxes
The median property tax rate in Fort Washington, PA is 4.76%, significantly higher than both the national median of 0.99% and Pennsylvania's state median of 2.81%. With the median home value in Fort Washington at $238,710, the typical annual property tax bill reaches $10,546, far exceeding the national median of $2,690. Property taxes in Fort Washington are calculated based on the tax assessed value, which often falls below the market value due to exemptions like primary residence and agricultural exemptions. Understanding Fort Washington'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 Fort Washington 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
Fort Washington, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
4.76%
Estimate Property Tax Bill
$11,363
Ownwell’s Fort Washington Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fort Washington with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fort Washington 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 Fort Washington, Pennsylvania
Property taxes in Fort Washington, PA, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fort Washington is 4.76%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Fort Washington set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fort Washington 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 Fort Washington's effective property tax rate to other areas in Pennsylvania and the national median. For comparison, the 19034 zip code has the highest median property tax rate of 4.76%, while the 19048 zip code has the lowest median tax rate of 4.44%. Understanding how these areas compare with Fort Washington 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 Fort Washington Tax Rate
4.76%
Average Montgomery County Tax Rate
3.94%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fort Washington, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19034 | 3.14% | 4.76% | 4.76% | 4.76% | 4.76% |
| 19048 | 4.44% | 4.44% | 4.44% | 4.44% | 4.44% |
Source: Ownwell
Property Tax Assessment Values Across Fort Washington, Pennsylvania
In Fort Washington, 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 Fort Washington, 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 Fort Washington helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code with the highest median tax bill is 19034 at $10,546, while the lowest is 19048 at $4,997.
Property Tax Assessment Values Across Fort Washington, Pennsylvania
Source: Ownwell
$33,380
$293,475
$553,570
Average Fort Washington Assessed Value
$238,710
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 Fort Washington, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19034 | $143,436 | $176,800 | $238,760 | $287,165 | $347,104 |
| 19048 | $112,590 | $112,590 | $112,590 | $112,590 | $112,590 |
Source: Ownwell
Property Tax Bills Across Fort Washington, Pennsylvania
In Fort Washington, Montgomery County, PA, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Homeowners in this area face significant property tax bills, with the median home price at $238,710. The tax bill for the 25th percentile is $8,038, while those in the 75th percentile pay around $12,867. Even higher, the 90th percentile sees tax bills reaching $15,139. Several factors influence these amounts, including the assessed value of the property, local tax rates, and any applicable exemptions or appeals. For example, the highest median tax bill in the region is $10,546 in the 19034 zip code, whereas the lowest median tax bill is $4,997 in the 19048 zip code. These property taxes can significantly impact homeowners, often constituting a substantial portion of their annual expenses and influencing decisions related to homeownership and real estate investments.
Average Fort Washington Tax Bill
$10,546
Average Montgomery County Tax Bill
$5,764
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Fort Washington, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19034 | $4,942 | $8,044 | $10,546 | $12,868 | $15,139 |
| 19048 | $4,997 | $4,997 | $4,997 | $4,997 | $4,997 |
Source: Ownwell