Narberth, Pennsylvania Property Taxes
The median property tax rate in Narberth, PA is 4.57%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Narberth, the typical annual property tax bill reaches $8,176, exceeding the national median of $2,690. Property taxes in Narberth 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 Narberth'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 Narberth 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
Narberth, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
4.57%
Estimate Property Tax Bill
$8,338
Ownwell’s Narberth Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Narberth with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Narberth 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 Narberth, Pennsylvania
Property taxes in Narberth, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Narberth is 4.57%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Narberth set these rates annually, and they can vary significantly across different neighborhoods. Each year, Narberth 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 Narberth's effective property tax rate to other areas in Pennsylvania and the national median. For comparison, the 19072 zip code has the highest median property tax rate of 4.57%, while the same zip code also has the lowest median tax rate of 4.57%. Understanding how these rates compare with Narberth 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 Narberth Tax Rate
4.57%
Average Montgomery County Tax Rate
3.94%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Narberth, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19072 | 4.00% | 4.57% | 4.57% | 4.57% | 4.57% |
Source: Ownwell
Property Tax Assessment Values Across Narberth, Pennsylvania
In Narberth, 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 Narberth, 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 Narberth helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Narberth, the highest median tax bill is $8,176 in the 19072 zip code. The lowest median tax bill is also $8,176 in the same zip code. The 25th percentile tax bill is $6,585, the 75th percentile is $10,366, and the 90th percentile is $13,000.
Average Narberth Assessed Value
$182,460
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 Narberth, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19072 | $117,771 | $144,102 | $182,460 | $233,295 | $286,123 |
Source: Ownwell
Property Tax Bills Across Narberth, Pennsylvania
In Narberth, Montgomery County, PA, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. Several factors influence the assessed value, including the home's market value, location, and any improvements or renovations made to the property. For homeowners in Narberth, the median home price stands at $182,460. Property tax bills can vary significantly, with the 25th percentile tax bill at $6,585 and the 75th percentile reaching $10,366. The 90th percentile tax bill can go up to $13,000. Notably, the highest median tax bill in the area is $8,176, which is quite substantial compared to the national median property tax rate of 0.99%. Homeowners need to be aware of these factors, as higher property taxes can impact overall affordability and monthly budgeting. Understanding how these taxes are calculated can help homeowners plan better and possibly explore options for tax appeals or exemptions.
Average Narberth Tax Bill
$8,176
Average Montgomery County Tax Bill
$5,764
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Narberth, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19072 | $5,379 | $6,585 | $8,176 | $10,366 | $13,000 |
Source: Ownwell