Hatboro, Pennsylvania Property Taxes
The median property tax rate in Hatboro, PA is 1.92%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Hatboro at $242,553, the typical annual property tax bill reaches $4,664, exceeding the national median of $2,690. Property taxes in Hatboro 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 Hatboro'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 Hatboro 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
Hatboro, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.92%
Estimate Property Tax Bill
$4,657
Ownwell’s Hatboro Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hatboro with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hatboro 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 Hatboro, Pennsylvania
Property taxes in Hatboro, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hatboro is 1.92%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Hatboro set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hatboro 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 Hatboro's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the zip code 19040 has the highest median property tax rate of 1.92%, while zip code 19401 has the lowest median tax rate of 1.92%. Understanding how these cities compare with Hatboro 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 Hatboro Tax Rate
1.92%
Average Bucks County Tax Rate
1.91%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hatboro, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19040 | 1.92% | 1.92% | 1.92% | 1.92% | 1.92% |
| 19401 | 1.92% | 1.92% | 1.92% | 1.92% | 1.92% |
Source: Ownwell
Property Tax Assessment Values Across Hatboro, Pennsylvania
In Hatboro, 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. Assessment notices in Hatboro 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 Hatboro helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the highest median tax bill in the region is $8,265 in zip code 19401, while the lowest is $4,640 in zip code 19040.
Average Hatboro Assessed Value
$242,553
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 Hatboro, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19040 | $187,404 | $208,032 | $241,276 | $280,638 | $310,212 |
| 19401 | $429,788 | $429,788 | $429,788 | $429,788 | $429,788 |
Source: Ownwell
Property Tax Bills Across Hatboro, Pennsylvania
In Hatboro, Bucks County, PA, property tax bills are calculated based on the assessed value of a property, which is determined by the local tax assessor. The assessed value is a percentage of the property's market value, and this figure is then multiplied by the local tax rate. Homeowners in Hatboro face a median property tax rate of 0.99%, aligning with the national median. Several factors influence the tax bill, including property size, location, and any improvements made to the property. For example, a home with a median price of $242,553 in Hatboro would result in varying tax bills, with the 25th percentile at $4,003 and the 90th percentile reaching up to $5,993. This range indicates how property characteristics and local tax policies can significantly affect the final amount due. High property taxes can impact homeowners by increasing annual expenses, potentially affecting affordability and the overall cost of homeownership. Conversely, they also contribute to local services and infrastructure, enhancing community value.
Average Hatboro Tax Bill
$4,664
Average Bucks County Tax Bill
$5,548
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Hatboro, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19040 | $3,601 | $4,000 | $4,640 | $5,396 | $5,965 |
| 19401 | $8,265 | $8,265 | $8,265 | $8,265 | $8,265 |
Source: Ownwell