Hatboro, Pennsylvania Property Taxes
The median property tax rate in Hatboro, PA is 1.40%, which is considerably higher than the national median of 0.99% but lower than the Pennsylvania state median of 2.81%. With a median home value of $90,000 in Hatboro, the typical annual property tax bill reaches $1,260, which is below the national median of $2,690. Property taxes in Hatboro are calculated based on the assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Hatboro'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 Hatboro 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
Hatboro, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.4%
Estimate Property Tax Bill
$1,260
Ownwell’s Hatboro Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hatboro with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hatboro 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 Hatboro, Pennsylvania
Property taxes in Hatboro, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hatboro is 1.40%, significantly higher than the U.S. national median of 0.99%. Local government entities within Hatboro set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hatboro 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 Hatboro's effective property tax rate to other areas in Pennsylvania and the national median. For comparison, the zip code 19040 has the highest median property tax rate of 1.40%, while the same zip code also has the lowest median tax rate of 1.40%. Understanding how these areas compare with Hatboro provides valuable insights into the varying tax landscape across Philadelphia County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hatboro Tax Rate
1.40%
Average Philadelphia County Tax Rate
1.20%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hatboro, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19040 | 1.40% | 1.40% | 1.40% | 1.40% | 1.40% |
Source: Ownwell
Property Tax Assessment Values Across Hatboro, Pennsylvania
In Hatboro, 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 Philadelphia 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 Hatboro, 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 Hatboro helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Hatboro are both $1,260, found in the zip code 19040.
Average Hatboro Assessed Value
$90,000
Average Philadelphia County Assessed Value
$182,300
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hatboro, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19040 | $90,000 | $90,000 | $90,000 | $90,000 | $90,000 |
Source: Ownwell
Property Tax Bills Across Hatboro, Pennsylvania
In Hatboro, located in Philadelphia County, PA, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by local government assessors who evaluate the property to establish its taxable value. This assessed value is then multiplied by the local tax rate to calculate the annual tax bill. For example, if a home in Hatboro has a median home price of $90,000, the resulting tax bill is approximately $1,260. This amount is consistent across different percentiles, indicating a standardized approach to property taxation in the area. Various factors influence the assessed value, including the property's market value, location, and any improvements or renovations made to the home. Property taxes directly impact homeowners by contributing to local services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, Hatboro's property tax rate reflects the region's specific economic and administrative needs, ensuring that essential community services are adequately funded.
Average Hatboro Tax Bill
$1,260
Average Philadelphia County Tax Bill
$1,943
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Hatboro, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19040 | $1,260 | $1,260 | $1,260 | $1,260 | $1,260 |
Source: Ownwell