Norristown, Pennsylvania Property Taxes
The median property tax rate in Norristown, PA is 4.66%, significantly higher than both the national median of 0.99% and Pennsylvania's state median of 2.81%. With a median home value of $107,940 in Norristown, the typical annual property tax bill reaches $5,313, far exceeding the national median of $2,690. Property taxes in Norristown are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Norristown'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 Norristown 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
Norristown, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
4.66%
Estimate Property Tax Bill
$5,030
Ownwell’s Norristown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Norristown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Norristown 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 Norristown, Pennsylvania
Property taxes in Norristown, PA, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Norristown is 4.66%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Norristown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Norristown 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 Norristown's effective property tax rate to other areas in Montgomery County and the national median. For comparison, the 19401 zip code has the highest median property tax rate of 6.08%, while the 19403 zip code has the lowest median tax rate of 3.92%. Understanding how these areas compare with Norristown 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 Norristown Tax Rate
4.66%
Average Montgomery County Tax Rate
3.94%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Norristown, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19401 | 4.66% | 6.08% | 6.08% | 6.08% | 6.08% |
| 19403 | 3.63% | 3.92% | 3.92% | 4.66% | 4.66% |
Source: Ownwell
Property Tax Assessment Values Across Norristown, Pennsylvania
In Norristown, 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 Norristown, 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 Norristown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill is $6,387 in the 19403 zip code, while the lowest is $4,713 in the 19401 zip code.
Property Tax Assessment Values Across Norristown, Pennsylvania
Source: Ownwell
$33,380
$293,475
$553,570
Average Norristown Assessed Value
$107,940
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 Norristown, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19401 | $40,700 | $56,200 | $80,090 | $101,280 | $136,050 |
| 19403 | $89,092 | $124,930 | $156,170 | $188,550 | $268,600 |
Source: Ownwell
Property Tax Bills Across Norristown, Pennsylvania
In Norristown, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the market value of the property. Homeowners in Norristown, located in Montgomery County, face property tax bills that can vary significantly. For instance, the median home price stands at $107,940, and tax bills range from $4,059 at the 25th percentile to $8,766 at the 90th percentile. The highest median tax bill in the area is $6,387 in the 19403 zip code, while the lowest is $4,713 in the 19401 zip code. These figures are notably higher than the national median property tax rate of 0.99%. Various factors, such as property improvements, neighborhood changes, and local tax rates, influence these assessments. High property tax bills can impact homeowners by increasing their annual expenses, potentially affecting their ability to afford other necessities or save for the future.
Average Norristown Tax Bill
$5,313
Average Montgomery County Tax Bill
$5,764
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Norristown, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19401 | $2,471 | $3,399 | $4,713 | $5,655 | $6,765 |
| 19403 | $3,843 | $5,061 | $6,387 | $7,869 | $10,650 |
Source: Ownwell