Green Lane, Montgomery County, Pennsylvania Property Taxes
The median property tax rate in Green Lane, PA is 3.27%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Green Lane at $147,900, the typical annual property tax bill reaches $4,887, exceeding the national median of $2,690. Property taxes in Green Lane 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 Green Lane'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 Green Lane 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
Green Lane, Montgomery County, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.27%
Estimate Property Tax Bill
$4,836
$4,488
Ownwell’s Green Lane Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Green Lane with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Green Lane 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 Green Lane, Montgomery County, Pennsylvania
Property taxes in Green Lane, Pennsylvania, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Green Lane is 1.49%, which is higher than the Pennsylvania state median of 1.46% and the U.S. national median of 0.99%. Local government entities within Green Lane set these rates annually, and they can vary significantly across different neighborhoods. Each year, Green Lane 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 Green Lane's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the highest median property tax rate in the county is 1.49%, while the lowest median tax rate is also 1.49%. Understanding how these cities compare with Green Lane 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 Green Lane Tax Rate
3.27%
Average Montgomery County Tax Rate
3.94%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Green Lane, Montgomery County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18054 | 3.25% | 3.27% | 3.27% | 3.61% | 3.75% |
Source: Ownwell
Property Tax Assessment Values Across Green Lane, Montgomery County, Pennsylvania
In Green Lane, 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 Green Lane, 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 Green Lane helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $4,887, found in zip code 18054.
Property Tax Assessment Values Across Green Lane, Montgomery County, Pennsylvania
Source: Ownwell
$67,160
$296,195
$525,230
Average Green Lane Assessed Value
$147,900
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 Green Lane, Montgomery County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18054 | $47,290 | $110,090 | $147,900 | $204,770 | $260,300 |
Source: Ownwell
Property Tax Bills Across Green Lane, Montgomery County, Pennsylvania
In Green Lane, Montgomery County, PA, property tax bills are determined based on the assessed value of a home and the local tax rate. The assessed value is typically a percentage of the property's market value, which is then multiplied by the tax rate set by local government authorities. For instance, the median home price in Green Lane is $147,900. Homeowners in this area can expect property tax bills to vary significantly, with the 25th percentile bill at $3,606, the 75th percentile at $6,580, and the 90th percentile reaching up to $8,297. These taxes are higher compared to the national median property tax rate of 0.99%. The highest median tax bill recorded in the area is $4,887, which is also the lowest median tax bill, indicating consistency within certain zip codes. Property taxes fund essential community services like schools, public safety, and infrastructure, directly impacting homeowners' financial responsibilities and the quality of local amenities.
Property Tax Bills Across Green Lane, Montgomery County, Pennsylvania
Source: Ownwell
$2,471
$12,110
$21,748
Average Green Lane Tax Bill
$4,887
Average Montgomery County Tax Bill
$5,764
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Green Lane, Montgomery County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18054 | $1,175 | $3,606 | $4,887 | $6,580 | $8,297 |
Source: Ownwell