Penllyn, Montgomery County, Pennsylvania Property Taxes
The median property tax rate in Penllyn, PA is 2.83%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Penllyn, the typical annual property tax bill reaches $2,675, nearly matching the national median of $2,690. Property taxes in Penllyn 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 Penllyn'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 Penllyn 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
Penllyn, Montgomery County, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.83%
Estimate Property Tax Bill
$2,675
$2,482
Ownwell’s Penllyn Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Penllyn with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Penllyn 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 Penllyn, Montgomery County, Pennsylvania
Property taxes in Penllyn, Pennsylvania, play a crucial role in financing essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Penllyn is 2.83%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Penllyn set these rates annually, and they can vary significantly across different neighborhoods. Each year, Penllyn 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 Penllyn's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 19422 zip code has the highest median property tax rate of 2.83%, while the 19422 zip code also has the lowest median tax rate of 2.83%. Understanding how these cities compare with Penllyn 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 Penllyn Tax Rate
2.83%
Average Montgomery County Tax Rate
3.94%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Penllyn, Montgomery County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19422 | 2.83% | 2.83% | 2.83% | 2.83% | 2.83% |
Source: Ownwell
Property Tax Assessment Values Across Penllyn, Montgomery County, Pennsylvania
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Penllyn, Pennsylvania. 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 Penllyn, 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 Penllyn 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 $2675, found in the 19422 zip code.
Property Tax Assessment Values Across Penllyn, Montgomery County, Pennsylvania
Source: Ownwell
$67,160
$296,195
$525,230
Average Penllyn Assessed Value
$94,510
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 Penllyn, Montgomery County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19422 | $85,969 | $91,510 | $94,510 | $119,200 | $152,030 |
Source: Ownwell
Property Tax Bills Across Penllyn, Montgomery County, Pennsylvania
In Penllyn, 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 tax rate to determine the annual property tax bill. For homeowners in Penllyn, the median home price stands at $94,510. Property tax bills can vary significantly, with the 25th percentile at $2,590 and the 75th percentile at $3,373. At the higher end, the 90th percentile tax bill reaches $4,303. Comparatively, the median property tax bill in Penllyn is $2,675, aligning with the highest and lowest median tax bills in the zip code 19422. This is notably higher than the national median property tax rate of 0.99%. These property taxes play a crucial role in funding local services such as schools, public safety, and infrastructure, directly impacting the quality of life for homeowners in the area.
Property Tax Bills Across Penllyn, Montgomery County, Pennsylvania
Source: Ownwell
$2,471
$12,110
$21,748
Average Penllyn Tax Bill
$2,675
Average Montgomery County Tax Bill
$5,764
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Penllyn, Montgomery County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19422 | $2,433 | $2,590 | $2,675 | $3,373 | $4,303 |
Source: Ownwell