Furlong, Pennsylvania Property Taxes
The median property tax rate in Furlong, PA is 1.48%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Furlong at $468,085, the typical annual property tax bill reaches $7,172, exceeding the national median of $2,690. Property taxes in Furlong 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 Furlong'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 Furlong or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Furlong, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.48%
Estimate Property Tax Bill
$6,928
Ownwell’s Furlong Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Furlong with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Furlong 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 Furlong, Pennsylvania
Property taxes in Furlong, Pennsylvania, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Furlong is 1.48%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Furlong set these rates annually, and they can vary significantly across different neighborhoods. Each year, Furlong 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 Furlong's effective property tax rate to other areas in Pennsylvania and the national median. For comparison, the 18925 zip code has the highest median property tax rate of 1.48%, while it also has the lowest median tax rate of 1.48%. Understanding how these areas compare with Furlong 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 Furlong Tax Rate
1.48%
Average Bucks County Tax Rate
1.91%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Furlong, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18925 | 1.48% | 1.48% | 1.48% | 1.48% | 1.59% |
Source: Ownwell
Property Tax Assessment Values Across Furlong, Pennsylvania
In Furlong, 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 Appraisal District 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 Furlong, 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. For instance, the median home price in Furlong is $468,085, and the median tax bill can range from $5,754 at the 25th percentile to $10,803 at the 90th percentile. Notably, the zip code 18925 has both the highest and lowest median tax bill at $7,172. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Furlong Assessed Value
$468,085
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 Furlong, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18925 | $344,904 | $388,511 | $468,085 | $641,250 | $721,649 |
Source: Ownwell
Property Tax Bills Across Furlong, Pennsylvania
In Furlong, located in Bucks County, PA, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. The median home price in Furlong is $468,085, and property tax bills can vary significantly. For instance, homeowners in the 25th percentile can expect to pay around $5,754 annually, while those in the 75th percentile might face a tax bill closer to $9,582. Those in the 90th percentile could see bills as high as $10,803. The highest and lowest median tax bills in the area both stand at $7,172, reflecting the uniformity in tax assessments within the same ZIP code, 18925. Compared to the national median property tax rate of 0.99%, homeowners in Furlong may find their tax bills relatively high, impacting their overall cost of homeownership.
Average Furlong Tax Bill
$7,172
Average Bucks County Tax Bill
$5,548
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Furlong, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18925 | $5,230 | $5,754 | $7,172 | $9,582 | $10,803 |
Source: Ownwell