Horsham, Pennsylvania Property Taxes
The median property tax rate in Horsham, PA is 3.74%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Horsham, the typical annual property tax bill reaches $4,615, exceeding the national median of $2,690. Property taxes in Horsham 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 Horsham'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 Horsham 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
Horsham, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.74%
Estimate Property Tax Bill
$4,612
Ownwell’s Horsham Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Horsham with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Horsham 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 Horsham, Pennsylvania
Property taxes in Horsham, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Horsham is 1.35%, higher than both the Pennsylvania state median of 1.29% and the U.S. national median of 0.99%. Local government entities within Horsham set these rates annually, and they can vary significantly across different neighborhoods. Each year, Horsham 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 Horsham's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 19044 zip code has the highest median property tax rate of 1.35%, while the same 19044 zip code also has the lowest median tax rate of 1.35%. Understanding how these cities compare with Horsham 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 Horsham Tax Rate
3.74%
Average Montgomery County Tax Rate
3.94%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Horsham, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19044 | 3.74% | 3.74% | 3.74% | 3.74% | 3.74% |
Source: Ownwell
Property Tax Assessment Values Across Horsham, Pennsylvania
In Horsham, 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 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. In Horsham, 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 Horsham helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Horsham, the median home price is $123,320, with the 25th percentile tax bill at $3,990 and the 75th percentile tax bill at $6,078. The highest and lowest median tax bills in zip code 19044 are both $4,615, reflecting a consistent tax landscape across the area.
Average Horsham Assessed Value
$123,320
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 Horsham, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19044 | $80,740 | $106,570 | $123,320 | $162,180 | $209,660 |
Source: Ownwell
Property Tax Bills Across Horsham, Pennsylvania
In Horsham, Montgomery County, PA, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county and represents a percentage of the property's market value. Local tax authorities then apply the tax rate to this assessed value to calculate the annual property tax bill. Factors such as property improvements, neighborhood developments, and market trends can influence the assessed value, thereby impacting the tax bill. For homeowners in Horsham, the median home price is $123,320. The property tax bills can range significantly, with the 25th percentile at $3,990 and the 75th percentile at $6,078, highlighting the variability based on property values and assessments. The highest median tax bill in the area is $4,615, which is notably higher than the national median property tax rate of 0.99%. This means homeowners in Horsham may face higher property tax bills compared to the national average, affecting their overall cost of homeownership.
Average Horsham Tax Bill
$4,615
Average Montgomery County Tax Bill
$5,764
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Horsham, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19044 | $3,021 | $3,990 | $4,615 | $6,078 | $7,845 |
Source: Ownwell