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Old 04-16-2007, 11:22 AM
 
43 posts, read 112,334 times
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I'm so confused!!! I am trying to compare property taxes between counties. I am unable to find what the assessed value of a 500K new home would be in the various counties. (Bucks, Montco,Chester) I can find the millage rates, but Bucks Co seems particularly high, over 100 mills, yet montgomery county is a total of 30 mills (approx). Does each County use a different assesment % of sale price?
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Old 04-20-2007, 08:04 AM
 
13 posts, read 25,543 times
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Default Property taxes

I can't speak for Montgomery County, but you can go to www.buckscounty.org for info on the Board of Assessment. The millage rates listed on that website are accurate (I'm currently at 142, which is pretty high). In the town that I live the school millage rate is approved by the school board each year and the school district sends out the real estate tax notice and they are the contact for any questions on the school district real estate taxes. I then also also pay taxes to the township for real estate and for earned income. When I moved to Pennsylvania, I was very confused about all the taxes that are required. We had a very knowledgable realtor who was able to help us understand the property taxes. Hope this helps.
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Old 04-20-2007, 12:52 PM
 
43 posts, read 112,334 times
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Thank you for the info. So the millage rate is multiplied by a percentage of the market value of your home. If you bought a home for 100,000, what is the 142 multiplied by? 40% or 40,000? Now i am trying to determined what the assessed value is. What % of market.
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Old 04-20-2007, 01:24 PM
 
Location: Newtown Square, PA
179 posts, read 1,067,224 times
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the assessed value of the home and the millage rate will vary in each township of each county, not just the counties but the townships are different. but you would multiply the millage rate times the assessed value of 40,000.
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