Morrisville, Pennsylvania Property Taxes
The median property tax rate in Morrisville, PA is 2.11%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Morrisville at $217,872, the typical annual property tax bill reaches $5,623, far exceeding the national median of $2,690. Property taxes in Morrisville 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 Morrisville'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 Morrisville 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
Morrisville, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.11%
Estimate Property Tax Bill
$4,597
Ownwell’s Morrisville Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Morrisville using just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Morrisville to determine your property tax bill. This valuable tool provides a clear understanding of potential tax liabilities. For those interested in neighborhood-level trends, additional localized information is available below. Your property’s assessed value is the value assigned by Bucks County for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Morrisville, Pennsylvania
Property taxes in Morrisville, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Morrisville is 2.11%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Morrisville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Morrisville 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 Morrisville's effective property tax rate to other areas in Pennsylvania and the national median. For comparison, the 19067 zip code has the highest median property tax rate of 2.11%, while the same zip code also has the lowest median tax rate of 2.11%. Understanding how these areas compare with Morrisville 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 Morrisville Tax Rate
2.11%
Average Bucks County Tax Rate
1.91%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Morrisville, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19067 | 2.01% | 2.01% | 2.11% | 3.00% | 3.00% |
Source: Ownwell
Property Tax Assessment Values Across Morrisville, Pennsylvania
In Morrisville, 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 Morrisville, 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. For instance, the median home price in Morrisville is $217,872, with tax bills in the 25th percentile around $3,700 and in the 75th percentile about $6,938. The zip code 19067 has both the highest and lowest median tax bill at $5,623. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Morrisville, Pennsylvania
Source: Ownwell
$172,340
$489,787
$807,234
Average Morrisville Assessed Value
$217,872
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 Morrisville, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19067 | $37,872 | $136,170 | $217,872 | $299,521 | $396,277 |
Source: Ownwell
Property Tax Bills Across Morrisville, Pennsylvania
In Morrisville, 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. The assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For instance, with a median home price of $217,872, homeowners can expect varying tax bills depending on the specific assessment and applicable rates. Several factors influence the final tax bill, including the property's location within the county and any applicable exemptions or deductions. The tax bill in Morrisville ranges significantly, with the 25th percentile at $3,700 and the 75th percentile reaching $6,938. For those at the higher end, the 90th percentile tax bill climbs to $8,761. The median tax bill in the highest and lowest zip codes within Morrisville is $5,623. These property taxes significantly impact homeowners, affecting monthly budgets and overall affordability. Compared to the national median property tax rate of 0.99%, Morrisville's rates can be a crucial factor in financial planning for residents.
Average Morrisville Tax Bill
$5,623
Average Bucks County Tax Bill
$5,548
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Morrisville, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19067 | $802 | $3,700 | $5,623 | $6,938 | $8,761 |
Source: Ownwell