Plymouth Meeting, Montgomery County, Pennsylvania Property Taxes
The median property tax rate in Plymouth Meeting, PA is 3.15%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Plymouth Meeting, the typical annual property tax bill reaches $4,724, exceeding the national median of $2,690. Property taxes in Plymouth Meeting 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 Plymouth Meeting'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 Plymouth Meeting 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
Plymouth Meeting, Montgomery County, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.15%
Estimate Property Tax Bill
$4,725
$4,385
Ownwell’s Plymouth Meeting Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Plymouth Meeting with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Plymouth Meeting 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 Plymouth Meeting, Montgomery County, Pennsylvania
Property taxes in Plymouth Meeting, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Plymouth Meeting is 1.56%, significantly higher than both the Pennsylvania state median of 1.39% and the U.S. national median of 0.99%. Local government entities within Plymouth Meeting set these rates annually, and they can vary significantly across different neighborhoods. Each year, Plymouth Meeting 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 Plymouth Meeting's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 19462 zip code has the highest median property tax rate of 1.56%, while the same 19462 zip code also has the lowest median tax rate of 1.56%. Understanding how these areas compare with Plymouth Meeting 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 Plymouth Meeting, Montgomery County, Pennsylvania
Source: Ownwell
1.55%
4.08%
6.60%
Average Plymouth Meeting Tax Rate
3.15%
Average Montgomery County Tax Rate
3.94%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Plymouth Meeting, Montgomery County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19462 | 3.14% | 3.15% | 3.15% | 3.15% | 3.15% |
Source: Ownwell
Property Tax Assessment Values Across Plymouth Meeting, Montgomery County, Pennsylvania
In Plymouth Meeting, Pennsylvania, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value represents 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 Plymouth Meeting, 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 Plymouth Meeting helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in the area both stand at $4,724, specifically in the 19462 zip code.
Property Tax Assessment Values Across Plymouth Meeting, Montgomery County, Pennsylvania
Source: Ownwell
$67,160
$296,195
$525,230
Average Plymouth Meeting Assessed Value
$150,000
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 Plymouth Meeting, Montgomery County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19462 | $98,174 | $124,270 | $150,000 | $179,985 | $266,466 |
Source: Ownwell
Property Tax Bills Across Plymouth Meeting, Montgomery County, Pennsylvania
Property tax bills in Plymouth Meeting, located in Montgomery County, PA, are calculated by multiplying the assessed value of a property by the local tax rate. The assessed value is determined by the county and is typically a percentage of the property's market value. Several factors influence this assessment, including the property's location, size, and condition. In Montgomery County, the median home price stands at $150,000, with property tax bills varying significantly based on specific property characteristics. For instance, tax bills range from the 25th percentile at $3,920 to the 90th percentile at $8,392. This variation highlights how individual property assessments can greatly impact the tax burden on homeowners. Comparing this to the national median property tax rate of 0.99%, homeowners in Plymouth Meeting often face higher tax bills. The highest and lowest median tax bills in the area both stand at $4,724, showing a consistent tax rate across different properties. These property taxes fund essential local services, but they can also significantly affect homeowners' financial planning and overall housing costs.
Property Tax Bills Across Plymouth Meeting, Montgomery County, Pennsylvania
Source: Ownwell
$2,471
$12,110
$21,748
Average Plymouth Meeting Tax Bill
$4,724
Average Montgomery County Tax Bill
$5,764
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Plymouth Meeting, Montgomery County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19462 | $3,097 | $3,920 | $4,724 | $5,666 | $8,392 |
Source: Ownwell