Fallsington, Pennsylvania Property Taxes
The median property tax rate in Fallsington, PA is 2.01%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Fallsington, the typical annual property tax bill reaches $9,590, significantly exceeding the national median of $2,690. Property taxes in Fallsington 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 Fallsington'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 Fallsington 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
Fallsington, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.01%
Estimate Property Tax Bill
$9,611
Ownwell’s Fallsington Property Tax Bill Calculator is an invaluable resource for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Fallsington with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Fallsington to provide an estimate of your property tax bill. This tool offers a clear understanding of potential tax liabilities. For those interested in more granular details, you can explore trends at the neighborhood level by scrolling down. Your property’s assessed value, determined by Bucks County, is used for property tax calculations and considers any applicable exemptions.
Property Tax Rates Across Fallsington, Pennsylvania
Property taxes in Fallsington, Pennsylvania, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fallsington is 2.01%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Fallsington set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fallsington 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 Fallsington's effective property tax rate to other areas in Pennsylvania and the national median. For comparison, the zip code 19054 has the highest median property tax rate of 2.01%, while the same zip code also has the lowest median tax rate of 2.01%. Understanding how these areas compare with Fallsington 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 Fallsington Tax Rate
2.01%
Average Bucks County Tax Rate
1.91%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fallsington, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19054 | 2.01% | 2.01% | 2.01% | 2.01% | 2.01% |
Source: Ownwell
Property Tax Assessment Values Across Fallsington, Pennsylvania
In Fallsington, 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 Bucks County 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 Fallsington, 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 Fallsington helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bill in Fallsington is $9,590, found in zip code 19054.
Property Tax Assessment Values Across Fallsington, Pennsylvania
Source: Ownwell
$172,340
$489,787
$807,234
Average Fallsington Assessed Value
$478,138
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 Fallsington, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19054 | $418,468 | $453,564 | $478,138 | $521,862 | $548,340 |
Source: Ownwell
Property Tax Bills Across Fallsington, Pennsylvania
In Fallsington, 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 generally reflects a percentage of the property's market value. Homeowners in Fallsington face property tax bills that can vary significantly. For instance, the tax bill at the 25th percentile is $9,097, while at the 75th percentile, it reaches $10,467, and at the 90th percentile, it climbs to $10,998. These figures highlight the substantial impact property taxes can have on homeowners, with the median tax bill in the area being $9,590. This is considerably higher than the national median property tax rate of 0.99%, reflecting the relatively high property values in Fallsington. Homeowners must budget accordingly to manage these costs, which fund essential local services such as schools, public safety, and infrastructure. Understanding how these factors interplay is crucial for effective financial planning and property management.
Average Fallsington Tax Bill
$9,590
Average Bucks County Tax Bill
$5,548
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Fallsington, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19054 | $8,393 | $9,097 | $9,590 | $10,467 | $10,998 |
Source: Ownwell