South Montrose, Pennsylvania Property Taxes
The median property tax rate in South Montrose, PA is 3.31%, significantly higher than both the national median of 0.99% and Pennsylvania's state median of 2.81%. With the median home value in South Montrose at $62,400, the typical annual property tax bill reaches $2,066, which is below the national median of $2,690. Property taxes in South Montrose are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding South Montrose'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 South Montrose or another part of Susquehanna County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
South Montrose, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.31%
Estimate Property Tax Bill
$2,065
Ownwell’s South Montrose Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in South Montrose with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in South 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 South Montrose, Pennsylvania
Property taxes in South Montrose, Pennsylvania, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in South Montrose is 3.31%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within South Montrose set these rates annually, and they can vary significantly across different neighborhoods. Each year, South 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 South Montrose's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the zip code 18843 has the highest median property tax rate of 3.31%, while the same zip code also has the lowest median tax rate of 3.31%. Understanding how these cities compare with South 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 South Montrose Tax Rate
3.31%
Average Susquehanna County Tax Rate
3.31%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across South Montrose, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18843 | 3.31% | 3.31% | 3.31% | 3.31% | 3.31% |
Source: Ownwell
Property Tax Assessment Values Across South Montrose, Pennsylvania
In South 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 South 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 South Montrose helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 18843 has both the highest and lowest median tax bills, each amounting to $2066, reflecting the uniformity in property taxes within the area.
Property Tax Assessment Values Across South Montrose, Pennsylvania
Source: Ownwell
$9,800
$47,900
$86,000
Average South Montrose Assessed Value
$62,400
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 South Montrose, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18843 | $62,400 | $62,400 | $62,400 | $62,400 | $62,400 |
Source: Ownwell
Property Tax Bills Across South Montrose, Pennsylvania
Property tax bills in South Montrose, Susquehanna County, PA, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor and reflects a percentage of the property's market value. For homeowners in South Montrose, the median home price is $62,400. The tax rate is applied to this assessed value to calculate the annual property tax bill. For example, in South Montrose, the median property tax bill is $2,066, significantly higher than the national median property tax rate of 0.99%. This higher tax rate can impact homeowners by increasing their annual expenses, which can influence decisions on homeownership and property investments. Factors such as local government budgets, school funding needs, and public services contribute to the determination of the tax rate. Homeowners should stay informed about these factors as they directly affect their property tax liabilities and overall financial planning.
Average South Montrose Tax Bill
$2,066
Average Susquehanna County Tax Bill
$1,338
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across South Montrose, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18843 | $2,066 | $2,066 | $2,066 | $2,066 | $2,066 |
Source: Ownwell