Skippack, Pennsylvania Property Taxes
The median property tax rate in Skippack, PA is 4.04%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Skippack, the typical annual property tax bill reaches $4,560, exceeding the national median of $2,690. Property taxes in Skippack 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 Skippack'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 Skippack 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
Skippack, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
4.04%
Estimate Property Tax Bill
$4,561
Ownwell’s Skippack Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Skippack with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Skippack 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 Skippack, Pennsylvania
Property taxes in Skippack, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Skippack is 2.02%, which is significantly higher than both the Pennsylvania state median of 1.46% and the U.S. national median of 0.99%. Local government entities within Skippack set these rates annually, and they can vary significantly across different neighborhoods. Each year, Skippack 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 Skippack's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the highest median property tax rate in Montgomery County is 2.02%, while the lowest median tax rate is also 2.02%. Understanding how these cities compare with Skippack 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 Skippack Tax Rate
4.04%
Average Montgomery County Tax Rate
3.94%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Skippack, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19474 | 4.04% | 4.04% | 4.04% | 4.04% | 4.04% |
Source: Ownwell
Property Tax Assessment Values Across Skippack, Pennsylvania
In Skippack, 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 Skippack, 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 Skippack helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Skippack are both $4,560, found in the 19474 zip code.
Average Skippack Assessed Value
$112,885
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 Skippack, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19474 | $105,976 | $107,832 | $112,885 | $126,502 | $140,950 |
Source: Ownwell
Property Tax Bills Across Skippack, Pennsylvania
In Skippack, property tax bills are calculated based on the assessed value of a home, which is determined by the Montgomery County assessor's office. The assessed value is then multiplied by the local tax rate to produce the annual tax bill. With a median home price of $112,885, homeowners in Skippack can expect varying tax bills based on their property's assessed value and the specific tax rate applied. Factors influencing the tax bill include the property's location within Montgomery County, any applicable exemptions, and the specific tax rate set by local authorities. For instance, tax bills in the 25th percentile are around $4,347, while those in the 75th percentile reach up to $5,101. The 90th percentile tax bills can be as high as $5,589. These property taxes significantly impact homeowners by contributing to local services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, Skippack's tax rates reflect the community's investment in maintaining and improving local amenities and services.
Average Skippack Tax Bill
$4,560
Average Montgomery County Tax Bill
$5,764
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Skippack, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19474 | $4,279 | $4,347 | $4,560 | $5,101 | $5,589 |
Source: Ownwell