Every property is valued by the Board of Assessment of the county in which it is located. Each property's assessment (along with the millages of the county, the municipality, and the school district) determines the annual real estate taxes for that property.
The Pennsylvania State Tax Equalization Board tracks these valuations and provides a factor by which an assessment can be estimated. The factor for Montgomery County is 50.9 percent.
As a result, assuming the value is $550,000 (the sale price), this property's assessment can be estimated to be $279,950.
An assessment in Upper Merion Township of $279,950 will result in real estate taxes as follows:
Taxing Entity
Millage
Annual Tax
Montgomery County
3.632
$1,017
Upper Merion Township
2.790
$781
Upper Merion Area School District
20.760
$5,812
Est. Annual Real Estate Taxes
$7,610