Holicong, Pennsylvania Property Taxes
The median property tax rate in Holicong, 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 Holicong, the typical annual property tax bill reaches $7,770, exceeding the national median of $2,690. Property taxes in Holicong 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 Holicong'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 Holicong 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
Holicong, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.48%
Estimate Property Tax Bill
$7,778
Ownwell’s Holicong Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Holicong with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Holicong 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 Holicong, Pennsylvania
Property taxes in Holicong, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Holicong is 1.48%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Holicong set these rates annually, and they can vary significantly across different neighborhoods. Each year, Holicong 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 Holicong's effective property tax rate to other areas in Bucks County and the national median. For comparison, the zip code 18928 has the same median property tax rate of 1.48%. Understanding how these areas compare with Holicong 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 Holicong 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 Holicong, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18928 | 1.45% | 1.48% | 1.48% | 1.48% | 1.48% |
Source: Ownwell
Property Tax Assessment Values Across Holicong, Pennsylvania
In Holicong, 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 Holicong, 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 Holicong helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 18928, both at $7,770.
Average Holicong Assessed Value
$525,532
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 Holicong, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18928 | $448,724 | $487,979 | $525,532 | $669,760 | $766,436 |
Source: Ownwell
Property Tax Bills Across Holicong, Pennsylvania
Property tax bills in Holicong, located in Bucks County, PA, are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is a percentage of the property's market value and is set by the county assessor. Homeowners in Holicong can expect their tax bills to vary based on the assessed value of their property and the specific tax rate applied. For instance, the median home price in Holicong is $525,532, which, when combined with the local tax rate, results in varying tax bills. The tax bill at the 25th percentile is $7,025, while at the 75th percentile, it rises to $9,903. At the 90th percentile, it can reach up to $11,332. Comparatively, the highest and lowest median tax bills in the area are both $7,770, indicating a consistent tax rate across different properties. These property taxes fund essential public services, including schools, infrastructure, and emergency services, impacting homeowners by contributing to the overall quality of life in the community.
Average Holicong Tax Bill
$7,770
Average Bucks County Tax Bill
$5,548
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Holicong, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18928 | $6,508 | $7,025 | $7,770 | $9,903 | $11,332 |
Source: Ownwell