Line Lexington, Pennsylvania Property Taxes
The median property tax rate in Line Lexington, 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 Line Lexington, the typical annual property tax bill reaches $5,365, exceeding the national median of $2,690. Property taxes in Line Lexington 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 Line Lexington'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 Line Lexington 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
Line Lexington, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.58%
Estimate Property Tax Bill
$5,369
Ownwell’s Line Lexington Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Line Lexington with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Line Lexington 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 Line Lexington, Pennsylvania
Property taxes in Line Lexington, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Line Lexington is 1.58%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Line Lexington set these rates annually, and they can vary significantly across different neighborhoods. Each year, Line Lexington 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 Line Lexington's effective property tax rate to other areas in Pennsylvania and the national median. For comparison, the 18932 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 figures compare with Line Lexington 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 Line Lexington 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 Line Lexington, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18932 | 1.58% | 1.58% | 1.58% | 1.59% | 1.59% |
Source: Ownwell
Property Tax Assessment Values Across Line Lexington, Pennsylvania
In Line Lexington, 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 Line Lexington, 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 Line Lexington helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in the area is $339,788, with property tax bills ranging from $4,059 at the 25th percentile to $14,058 at the 90th percentile. The highest and lowest median tax bill in the region is $5,365 in the 18932 zip code.
Property Tax Assessment Values Across Line Lexington, Pennsylvania
Source: Ownwell
$172,340
$489,787
$807,234
Average Line Lexington Assessed Value
$339,788
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 Line Lexington, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18932 | $186,638 | $255,665 | $339,788 | $521,170 | $887,192 |
Source: Ownwell
Property Tax Bills Across Line Lexington, Pennsylvania
In Line Lexington, PA, property tax bills are determined based on the assessed value of a home, which is calculated by the local tax assessor. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as the size of the property, the condition of the home, and comparable property values in the area are considered during the assessment process. For homeowners in Line Lexington, the median home price stands at $339,788, which influences the property tax amounts significantly. For instance, those in the 25th percentile of tax bills pay around $4,059 annually, while those in the 75th percentile face tax bills as high as $8,297. At the 90th percentile, the tax bill can soar to $14,058. The highest and lowest median tax bills in the area are both recorded at $5,365, reflecting the consistency in tax assessments within the zip code 18932. Compared to the national median property tax rate of 0.99%, Line Lexington's property tax rates can significantly impact homeowners, making it crucial to understand how their tax bills are calculated and what factors contribute to the final amount.
Average Line Lexington Tax Bill
$5,365
Average Bucks County Tax Bill
$5,548
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Line Lexington, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18932 | $2,944 | $4,059 | $5,365 | $8,297 | $14,058 |
Source: Ownwell