Richlandtown, Pennsylvania Property Taxes
The median property tax rate in Richlandtown, PA is 1.91%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Richlandtown, the typical annual property tax bill reaches $4,671, exceeding the national median of $2,690. Property taxes in Richlandtown 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 Richlandtown'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 Richlandtown 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
Richlandtown, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.91%
Estimate Property Tax Bill
$4,654
Ownwell’s Richlandtown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Richlandtown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Richlandtown 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 Richlandtown, Pennsylvania
Property taxes in Richlandtown, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Richlandtown is 1.91%, significantly higher than both the Pennsylvania state median of 1.35% and the U.S. national median of 0.99%. Local government entities within Richlandtown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Richlandtown 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 Richlandtown's effective property tax rate to other areas in Pennsylvania and the national median. For comparison, the zip code 18955 has both the highest and lowest median property tax rate of 1.91%. Understanding how these areas compare with Richlandtown 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 Richlandtown Tax Rate
1.91%
Average Bucks County Tax Rate
1.91%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Richlandtown, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18955 | 1.51% | 1.90% | 1.91% | 1.91% | 1.96% |
Source: Ownwell
Property Tax Assessment Values Across Richlandtown, Pennsylvania
In Richlandtown, 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 Appraisal District 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 Richlandtown, 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. For example, the median home price in Richlandtown is $243,670, with tax bills ranging from $2,999 at the 25th percentile to $7,185 at the 90th percentile. The highest and lowest median tax bills are both $4,671 in zip code 18955. 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 Richlandtown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Richlandtown, Pennsylvania
Source: Ownwell
$172,340
$489,787
$807,234
Average Richlandtown Assessed Value
$243,670
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 Richlandtown, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18955 | $136,171 | $157,447 | $243,670 | $302,447 | $392,308 |
Source: Ownwell
Property Tax Bills Across Richlandtown, Pennsylvania
In Richlandtown, Bucks County, PA, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The median home price in the area is $243,670, and the property tax rate is applied to this assessed value to determine the tax bill. Homeowners can expect a tax bill that falls within a range, with the 25th percentile at $2,999 and the 75th percentile at $5,674. For those at the higher end, the 90th percentile tax bill reaches up to $7,185. This range illustrates the variability in tax bills, influenced by factors such as property size, location, and market conditions. Comparing this to the national median property tax rate of 0.99%, homeowners in Richlandtown may find their tax bills to be relatively higher, reflecting the local economic environment and funding needs for public services. The highest and lowest median tax bills in the area are both recorded at $4,671, indicating a level of consistency within certain zip codes.
Average Richlandtown Tax Bill
$4,671
Average Bucks County Tax Bill
$5,548
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Richlandtown, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18955 | $2,594 | $2,999 | $4,671 | $5,674 | $7,185 |
Source: Ownwell