Danboro, Pennsylvania Property Taxes
The median property tax rate in Danboro, PA is 1.58%, considerably higher than the national median of 0.99% but lower than the Pennsylvania state median of 2.81%. With the median home value in Danboro at $281,702, the typical annual property tax bill reaches $4,455, significantly exceeding the national median of $2,690. Property taxes in Danboro are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Danboro'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 Danboro or another part of Bucks County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Danboro, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.58%
Estimate Property Tax Bill
$4,451
Ownwell’s Danboro Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Danboro with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Danboro 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 Danboro, Pennsylvania
Property taxes in Danboro, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Danboro is 1.58%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Danboro set these rates annually, and they can vary significantly across different neighborhoods. Each year, Danboro 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 Danboro's effective property tax rate to other areas in Bucks County and the national median. For comparison, the 18916 zip code has the highest median property tax rate of 1.58%, while the same zip code also has the lowest median tax rate of 1.58%. Understanding how these figures compare with Danboro provides valuable insights into the varying tax landscape across Bucks County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Danboro Tax Rate
1.58%
Average Bucks County Tax Rate
1.91%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Danboro, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18916 | 1.58% | 1.58% | 1.58% | 1.58% | 1.58% |
Source: Ownwell
Property Tax Assessment Values Across Danboro, Pennsylvania
In Danboro, 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 Bucks 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 Danboro, 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. The median home price in Danboro is $281,702, with tax bills ranging from $3,869 at the 25th percentile to $5,089 at the 90th percentile. The zip code with the highest and lowest median tax bill is 18916, both at $4,455. 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 Danboro helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Danboro Assessed Value
$281,702
Average Bucks County Assessed Value
$300,000
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Danboro, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18916 | $225,532 | $244,681 | $281,702 | $312,979 | $321,788 |
Source: Ownwell
Property Tax Bills Across Danboro, Pennsylvania
In Danboro, Bucks County, PA, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and is a percentage of the property's market value. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. Homeowners in Danboro can expect their property tax bills to vary significantly depending on their home's value. For instance, the tax bill at the 25th percentile is $3,869, while at the 75th percentile, it rises to $4,949, and at the 90th percentile, it reaches $5,089. These figures illustrate how property taxes can impact homeowners differently based on their property values. Comparing these figures to the national median property tax rate of 0.99%, it becomes evident that property tax rates in Danboro are relatively high. This means homeowners in the area need to budget accordingly to accommodate these higher-than-average property tax obligations.
Average Danboro Tax Bill
$4,455
Average Bucks County Tax Bill
$5,548
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Danboro, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18916 | $3,566 | $3,869 | $4,455 | $4,949 | $5,089 |
Source: Ownwell