Durham, Pennsylvania Property Taxes
The median property tax rate in Durham, PA is 1.40%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Durham, the typical annual property tax bill reaches $5,284, exceeding the national median of $2,690. Property taxes in Durham 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 Durham'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 Durham 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
Durham, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.4%
Estimate Property Tax Bill
$5,275
Ownwell’s Durham Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Durham with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Durham 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 Durham, Pennsylvania
Property taxes in Durham, Pennsylvania, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Durham is 1.40%, higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Durham set these rates annually, and they can vary significantly across different neighborhoods. Each year, Durham 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 Durham's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 18039 zip code has the highest median property tax rate of 1.40%, while the 18039 zip code also has the lowest median tax rate of 1.40%. Understanding how these cities compare with Durham 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 Durham Tax Rate
1.40%
Average Bucks County Tax Rate
1.91%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Durham, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18039 | 1.40% | 1.40% | 1.40% | 1.40% | 1.40% |
Source: Ownwell
Property Tax Assessment Values Across Durham, Pennsylvania
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Durham, PA. 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 Durham, 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. The median home price in Durham is $376,808, with tax bills ranging significantly. For instance, the 25th percentile tax bill is $4,983, while the 75th percentile tax bill is $6,000, and the 90th percentile tax bill reaches $7,851. The zip code 18039 has both the highest and lowest median tax bill at $5,284. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to manage the tax burden effectively.
Average Durham Assessed Value
$376,808
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 Durham, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18039 | $302,980 | $355,319 | $376,808 | $427,873 | $559,809 |
Source: Ownwell
Property Tax Bills Across Durham, Pennsylvania
In Durham, Bucks County, PA, property tax bills are calculated based on the assessed value of a home and the local property tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. Homeowners in Durham can expect a median home price of $376,808. Property tax rates are applied to this assessed value to determine the annual tax bill. For instance, the 25th percentile tax bill in Durham is $4,983, while the 75th percentile reaches $6,000. At the 90th percentile, homeowners face tax bills as high as $7,851. These variations highlight how different property values and specific local tax rates can significantly impact the amount homeowners are required to pay. Compared to the national median property tax rate of 0.99%, Durham's property taxes can be notably higher, affecting homeowners' annual financial planning. Understanding these factors is crucial for homeowners in managing their budgets and anticipating their financial obligations.
Average Durham Tax Bill
$5,284
Average Bucks County Tax Bill
$5,548
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Durham, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18039 | $4,249 | $4,983 | $5,284 | $6,000 | $7,851 |
Source: Ownwell