Croydon, Pennsylvania Property Taxes
The median property tax rate in Croydon, PA is 2.53%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Croydon at $174,468, the typical annual property tax bill reaches $4,421, exceeding the national median of $2,690. Property taxes in Croydon 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 Croydon'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 Croydon 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
Croydon, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.53%
Estimate Property Tax Bill
$4,414
Ownwell’s Croydon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Croydon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Croydon 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 Croydon, Pennsylvania
Property taxes in Croydon, Pennsylvania, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Croydon is 2.53%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Croydon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Croydon 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 Croydon's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 19021 zip code has the highest median property tax rate of 2.53%, while it also has the lowest median tax rate of 2.53%. Understanding how these cities compare with Croydon 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 Croydon Tax Rate
2.53%
Average Bucks County Tax Rate
1.91%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Croydon, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19021 | 2.53% | 2.53% | 2.53% | 2.53% | 2.53% |
Source: Ownwell
Property Tax Assessment Values Across Croydon, Pennsylvania
In Croydon, 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 Croydon, 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 Croydon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 19021 in Croydon has the highest median tax bill at $4,421, which is significant compared to the national median property tax rate of 0.99%.
Average Croydon Assessed Value
$174,468
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 Croydon, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19021 | $119,149 | $148,936 | $174,468 | $216,011 | $263,829 |
Source: Ownwell
Property Tax Bills Across Croydon, Pennsylvania
In Croydon, property tax bills are calculated based on the assessed value of a home, which is determined by the Bucks County 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 $174,468, homeowners can expect to pay a tax bill ranging from $3,666 at the 25th percentile to $6,567 at the 90th percentile. The median tax bill in Croydon is $4,421, which is significantly higher than the national median property tax rate of 0.99%. Factors such as property improvements, market conditions, and local budget requirements can influence the assessed value and, consequently, the tax bill. This can have a substantial impact on homeowners, affecting their annual expenses and potentially influencing decisions about property investments. Understanding how property taxes are calculated can help homeowners in Croydon better manage their finances and plan for future tax obligations.
Average Croydon Tax Bill
$4,421
Average Bucks County Tax Bill
$5,548
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Croydon, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19021 | $3,019 | $3,666 | $4,421 | $5,391 | $6,567 |
Source: Ownwell