Jamison, Pennsylvania Property Taxes
The median property tax rate in Jamison, PA is 1.58%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Jamison, the typical annual property tax bill reaches $7,200, significantly exceeding the national median of $2,690. Property taxes in Jamison 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 Jamison'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 Jamison 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
Jamison, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.58%
Estimate Property Tax Bill
$7,181
Ownwell’s Jamison Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Jamison with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Jamison 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 Jamison, Pennsylvania
Property taxes in Jamison, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Jamison is 1.58%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Jamison set these rates annually, and they can vary significantly across different neighborhoods. Each year, Jamison 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 Jamison's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 18929 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 cities compare with Jamison 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 Jamison 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 Jamison, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18929 | 1.58% | 1.58% | 1.58% | 1.58% | 1.58% |
Source: Ownwell
Property Tax Assessment Values Across Jamison, Pennsylvania
In Jamison, 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 Jamison, 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 Jamison helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the median home price in Jamison is $454,468, with tax bills ranging from $5,542 at the 25th percentile to $10,653 at the 90th percentile. The highest and lowest median tax bills, both at $7,200, are found in the 18929 zip code.
Average Jamison Assessed Value
$454,468
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 Jamison, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18929 | $285,106 | $349,468 | $454,468 | $551,994 | $671,564 |
Source: Ownwell
Property Tax Bills Across Jamison, Pennsylvania
In Jamison, located in Bucks County, PA, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. Several factors influence this assessed value, including the home's market value, location, and any improvements or renovations made. Homeowners in Jamison can expect property tax bills that vary significantly. For example, the tax bill at the 25th percentile is approximately $5,542, while it rises to $8,746 at the 75th percentile. Those at the 90th percentile face tax bills around $10,653. The median home price in Jamison is $454,468, which influences these tax rates. Compared to the national median property tax rate of 0.99%, Bucks County's rates can be higher, impacting homeowners' annual expenses. Understanding these components helps homeowners anticipate their financial responsibilities and plan accordingly.
Average Jamison Tax Bill
$7,200
Average Bucks County Tax Bill
$5,548
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Jamison, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18929 | $4,522 | $5,542 | $7,200 | $8,746 | $10,653 |
Source: Ownwell