Trappe, Montgomery County, Pennsylvania Property Taxes
The median property tax rate in Trappe, PA is 4.10%, significantly higher than both the national median of 0.99% and Pennsylvania's state median of 2.81%. With the median home value in Trappe at $135,030, the typical annual property tax bill reaches $5,542, far exceeding the national median of $2,690. Property taxes in Trappe are calculated based on the assessed value, which usually falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Trappe'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 Trappe 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
Trappe, Montgomery County, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
4.1%
Estimate Property Tax Bill
$5,536
$5,137
Ownwell’s Trappe Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Trappe with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Trappe 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 Trappe, Montgomery County, Pennsylvania
Property taxes in Trappe, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Trappe is 4.10%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Trappe set these rates annually, and they can vary significantly across different neighborhoods. Each year, Trappe 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 Trappe's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the zip code 19426 has the highest median property tax rate of 4.10%, while the same zip code also has the lowest median tax rate of 4.10%. Understanding how these cities compare with Trappe 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 Trappe Tax Rate
4.10%
Average Montgomery County Tax Rate
3.94%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Trappe, Montgomery County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19426 | 4.10% | 4.10% | 4.10% | 4.10% | 4.11% |
Source: Ownwell
Property Tax Assessment Values Across Trappe, Montgomery County, Pennsylvania
In Trappe, 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 Montgomery County 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 Trappe, 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. For example, the median home price in Trappe stands at $135,030. The tax bills can vary significantly, with the 25th percentile tax bill at $4,668 and the 75th percentile tax bill at $6,886. The highest and lowest median tax bills are both found in the 19426 zip code, each at $5,542. 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 Trappe helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Trappe, Montgomery County, Pennsylvania
Source: Ownwell
$67,160
$296,195
$525,230
Average Trappe Assessed Value
$135,030
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 Trappe, Montgomery County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19426 | $107,470 | $113,750 | $135,030 | $167,760 | $224,416 |
Source: Ownwell
Property Tax Bills Across Trappe, Montgomery County, Pennsylvania
In Trappe, Montgomery County, PA, property tax bills are calculated based on the assessed value of a home, which is determined by local tax authorities. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. The assessed value is influenced by factors such as the property's market value, location, and any improvements made to the home. Homeowners in Trappe experience varying tax bills depending on these factors. For instance, the 25th percentile of tax bills in Trappe is around $4,668, while the 75th percentile reaches up to $6,886, and the 90th percentile can be as high as $9,005. Comparatively, the highest and lowest median tax bills in the area are both $5,542, reflecting a relatively consistent tax rate within the region. These property tax bills are crucial for homeowners to budget for, as they contribute significantly to local services and infrastructure. Understanding how these taxes are calculated can help homeowners anticipate their annual financial obligations.
Property Tax Bills Across Trappe, Montgomery County, Pennsylvania
Source: Ownwell
$2,471
$12,110
$21,748
Average Trappe Tax Bill
$5,542
Average Montgomery County Tax Bill
$5,764
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Trappe, Montgomery County, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19426 | $4,404 | $4,668 | $5,542 | $6,886 | $9,005 |
Source: Ownwell