Souderton, Pennsylvania Property Taxes
The median property tax rate in Souderton, PA is 3.83%, significantly higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Souderton at $137,015, the typical annual property tax bill reaches $5,489, far exceeding the national median of $2,690. Property taxes in Souderton are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Souderton'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 Souderton 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
Souderton, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.83%
Estimate Property Tax Bill
$5,248
Ownwell’s Souderton Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Souderton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Souderton to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available below. Your property’s assessed value is the value assigned by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Souderton, Pennsylvania
Property taxes in Souderton, Pennsylvania, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Souderton is 3.83%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Souderton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Souderton 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 Souderton's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 18964 zip code has both the highest and lowest median property tax rate of 3.83%. Understanding how these cities compare with Souderton 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 Souderton Tax Rate
3.83%
Average Montgomery County Tax Rate
3.94%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Souderton, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18964 | 3.83% | 3.83% | 3.83% | 4.25% | 4.25% |
Source: Ownwell
Property Tax Assessment Values Across Souderton, Pennsylvania
In Souderton, 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 Souderton, 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 Souderton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 18964 has both the highest and lowest median tax bill at $5,489, reflecting a consistency in property tax assessments within the area.
Average Souderton Assessed Value
$137,015
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 Souderton, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18964 | $84,716 | $109,985 | $137,015 | $175,500 | $215,053 |
Source: Ownwell
Property Tax Bills Across Souderton, Pennsylvania
In Souderton, located in 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 tax bill. For example, with a median home price of $137,015, homeowners can expect to pay a median tax bill that varies significantly across different percentiles. Factors such as property size, location, and improvements can influence the assessed value, thereby affecting the tax bill. In Souderton, the tax bill at the 25th percentile is around $4,592, while those at the 75th percentile might see bills as high as $6,802. The top 10% of homeowners could face tax bills reaching up to $8,241. Compared to the national median property tax rate of 0.99%, Souderton's tax bills reflect the local economic conditions and property values, impacting homeowners' annual financial planning and long-term investment in their properties.
Average Souderton Tax Bill
$5,489
Average Montgomery County Tax Bill
$5,764
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Souderton, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18964 | $3,575 | $4,592 | $5,489 | $6,802 | $8,241 |
Source: Ownwell