Montrose, Pennsylvania Property Taxes
The median property tax rate in Montrose, PA is 3.30%, significantly higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Montrose at $42,600, the typical annual property tax bill reaches $1,419, surpassing the national median of $2,690. Property taxes in Montrose are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Montrose's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Montrose or another part of Susquehanna County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Montrose, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.3%
Estimate Property Tax Bill
$1,406
Ownwell’s Montrose Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Montrose with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Montrose 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 Montrose, Pennsylvania
Property taxes in Montrose, Pennsylvania, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Montrose is 3.30%, significantly higher than the U.S. national median of 0.99%. Local government entities within Montrose set these rates annually, and they can vary significantly across different neighborhoods. Each year, Montrose 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 Montrose's effective property tax rate to other areas in Pennsylvania and the national median. For comparison, the 18801 zip code has the highest median property tax rate of 3.30%, while the 18801 zip code also has the lowest median tax rate of 3.30%. Understanding how these cities compare with Montrose provides valuable insights into the varying tax landscape across Susquehanna County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Montrose Tax Rate
3.30%
Average Susquehanna County Tax Rate
3.31%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Montrose, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18801 | 3.07% | 3.17% | 3.30% | 3.38% | 3.59% |
Source: Ownwell
Property Tax Assessment Values Across Montrose, Pennsylvania
In Montrose, 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 Susquehanna 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 Montrose, 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 Montrose helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with both the highest and lowest median tax bill is 18801, with a median tax bill of $1,419.
Average Montrose Assessed Value
$42,600
Average Susquehanna County Assessed Value
$40,400
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Montrose, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18801 | $9,600 | $21,200 | $42,600 | $62,600 | $84,600 |
Source: Ownwell
Property Tax Bills Across Montrose, Pennsylvania
In Montrose, property tax bills are calculated based on the assessed value of a property, which is determined by the Susquehanna County assessor's office. The assessed value is a percentage of the property's market value. Once the assessed value is established, it is multiplied by the local tax rate to calculate the property tax bill. The median home price in Montrose is $42,600, and property tax bills can vary significantly. For instance, the 25th percentile tax bill is $695, while the 75th percentile tax bill reaches $2,035, and the 90th percentile tax bill is as high as $2,812. These property tax bills can have a substantial impact on homeowners, influencing their overall cost of living and financial planning. With Montrose's tax rate compared to the national median property tax rate of 0.99%, homeowners need to be aware of how these taxes are calculated and budget accordingly. Understanding these factors helps homeowners anticipate their annual tax obligations and manage their finances effectively.
Average Montrose Tax Bill
$1,419
Average Susquehanna County Tax Bill
$1,338
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Montrose, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18801 | $311 | $695 | $1,419 | $2,035 | $2,812 |
Source: Ownwell