Falls, Pennsylvania Property Taxes
The median property tax rate in Falls, PA is 2.01%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Falls at $251,064, the typical annual property tax bill reaches $5,035, exceeding the national median of $2,690. Property taxes in Falls 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 Falls' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Falls 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
Falls, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.01%
Estimate Property Tax Bill
$5,046
Ownwell’s Falls Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Falls with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Falls 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 Falls, Pennsylvania
Property taxes in Falls, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Falls is 2.01%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Falls set these rates annually, and they can vary significantly across different neighborhoods. Each year, Falls 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 Falls' effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 19067 zip code within Falls has the highest median property tax rate of 2.01%, which is also the lowest rate in the area. Understanding how these figures compare with Falls 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 Falls Tax Rate
2.01%
Average Bucks County Tax Rate
1.91%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Falls, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19067 | 2.01% | 2.01% | 2.01% | 2.01% | 2.01% |
Source: Ownwell
Property Tax Assessment Values Across Falls, Pennsylvania
In Falls, 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 Falls, 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 Falls helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Falls, both at $5,035, are found in the 19067 zip code.
Average Falls Assessed Value
$251,064
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 Falls, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19067 | $251,064 | $251,064 | $251,064 | $251,064 | $251,064 |
Source: Ownwell
Property Tax Bills Across Falls, Pennsylvania
In Falls, PA, property tax bills are calculated based on the assessed value of the home, which is determined by the Bucks County Assessor's Office. The assessed value is a percentage of the home's market value, and this figure is then multiplied by the local tax rate to compute the annual tax bill. Factors such as property size, location, and any improvements made to the home can influence the assessed value. For homeowners in Falls, the median home price stands at $251,064, and the property tax bill is uniformly $5,035 across various percentiles. This consistent tax bill is notably higher than the national median property tax rate of 0.99%, reflecting the local tax rate's impact on homeowners. Such a high tax bill can significantly affect household budgets, making it crucial for homeowners to understand their tax obligations and explore any available exemptions or appeals to potentially reduce their tax burden.
Average Falls Tax Bill
$5,035
Average Bucks County Tax Bill
$5,548
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Falls, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19067 | $5,035 | $5,035 | $5,035 | $5,035 | $5,035 |
Source: Ownwell