King Of Prussia, Montgomery County, Pennsylvania Property Taxes
The median property tax rate in King of Prussia, PA is 2.97%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in King of Prussia at $139,450, the typical annual property tax bill reaches $4,146, exceeding the national median of $2,690. Property taxes in King of Prussia 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 King of Prussia'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 King of Prussia 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
King Of Prussia, Montgomery County, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.97%
Estimate Property Tax Bill
$4,142
$3,843
Ownwell’s King of Prussia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in King of Prussia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in King of Prussia 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 King Of Prussia, Montgomery County, Pennsylvania
Property taxes in King of Prussia, Pennsylvania, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in King of Prussia is 2.97%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within King of Prussia set these rates annually, and they can vary significantly across different neighborhoods. Each year, King of Prussia 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 King of Prussia's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 19406 zip code has the highest median property tax rate of 2.97%, while the same zip code also has the lowest median tax rate of 2.97%. Understanding how these areas compare with King of Prussia 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.
Property Tax Rates Across King Of Prussia, Montgomery County, Pennsylvania
Source: Ownwell
1.55%
4.08%
6.60%
Average King Of Prussia Tax Rate
2.97%
Average Montgomery County Tax Rate
3.94%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across King Of Prussia, Montgomery County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19406 | 2.97% | 2.97% | 2.97% | 2.97% | 2.97% |
Source: Ownwell
Property Tax Assessment Values Across King Of Prussia, Montgomery County, Pennsylvania
In King of Prussia, 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 King of Prussia, 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 King of Prussia helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in King of Prussia are both $4,146, found in zip code 19406.
Property Tax Assessment Values Across King Of Prussia, Montgomery County, Pennsylvania
Source: Ownwell
$67,160
$296,195
$525,230
Average King Of Prussia Assessed Value
$139,450
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 King Of Prussia, Montgomery County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19406 | $95,995 | $118,855 | $139,450 | $167,388 | $209,260 |
Source: Ownwell
Property Tax Bills Across King Of Prussia, Montgomery County, Pennsylvania
In King of Prussia, located in Montgomery County, PA, property tax bills are determined by the assessed value of a home and the local tax rate. The assessed value is a percentage of the market value, which is then multiplied by the tax rate to calculate the annual tax bill. This process takes into account various factors such as property size, location, and improvements. Homeowners in King of Prussia face a median property tax bill of approximately $4,146, which is significantly higher than the national median property tax rate of 0.99%. For instance, those in the 25th percentile pay around $3,535, while those in the 75th percentile see bills closer to $4,976. At the 90th percentile, the tax bill can reach up to $6,223. This high property tax burden reflects the region's higher property values and can significantly impact homeowners' financial planning and overall cost of living. Understanding these factors is crucial for homeowners to effectively manage their property expenses.
Property Tax Bills Across King Of Prussia, Montgomery County, Pennsylvania
Source: Ownwell
$2,471
$12,110
$21,748
Average King Of Prussia Tax Bill
$4,146
Average Montgomery County Tax Bill
$5,764
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across King Of Prussia, Montgomery County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19406 | $2,870 | $3,535 | $4,146 | $4,976 | $6,223 |
Source: Ownwell