Hatfield, Pennsylvania Property Taxes
The median property tax rate in Hatfield, PA is 1.59%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Hatfield at $425,532, the typical annual property tax bill reaches $6,812, exceeding the national median of $2,690. Property taxes in Hatfield 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 Hatfield'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 Hatfield 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
Hatfield, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.59%
Estimate Property Tax Bill
$6,766
Ownwell’s Hatfield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hatfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hatfield 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 Hatfield, Pennsylvania
Property taxes in Hatfield, Pennsylvania, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hatfield is 1.59%, significantly higher than the U.S. national median of 0.99%. Local government entities within Hatfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hatfield 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. Understanding how Hatfield's effective property tax rate compares with other areas in Bucks County and the national median provides valuable insights into the varying tax landscape across the region, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hatfield Tax Rate
1.59%
Average Bucks County Tax Rate
1.91%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hatfield, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19440 | 1.59% | 1.59% | 1.59% | 1.59% | 1.59% |
Source: Ownwell
Property Tax Assessment Values Across Hatfield, Pennsylvania
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Hatfield, Pennsylvania. 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 Bucks County 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 Hatfield, 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. The median home price in Hatfield is $425,532, with tax bills ranging from $5,016 at the 25th percentile to $11,309 at the 90th percentile. The zip code 19440 has the highest median tax bill at $6,812. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Hatfield Assessed Value
$425,532
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 Hatfield, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19440 | $242,128 | $313,830 | $425,532 | $621,995 | $710,320 |
Source: Ownwell
Property Tax Bills Across Hatfield, Pennsylvania
Property tax bills in Hatfield, Bucks County, PA, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor and reflects a percentage of the property's market value. For example, with a median home price of $425,532, the assessed value will be a fraction of this market price, which is then multiplied by the local tax rate to determine the tax bill. Several factors influence the tax bill, including property size, location, and any improvements made to the property. Homeowners in Hatfield can expect a wide range of tax bills; the 25th percentile tax bill is around $5,016, while the 75th percentile reaches $9,913, and the 90th percentile can be as high as $11,309. These figures highlight the variability in tax burdens based on property characteristics and assessed values. With a median tax bill of $6,812 in the 19440 zip code, homeowners in Hatfield face property tax rates that are above the national median of 0.99%, impacting their overall housing costs significantly.
Average Hatfield Tax Bill
$6,812
Average Bucks County Tax Bill
$5,548
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Hatfield, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19440 | $3,857 | $5,016 | $6,812 | $9,913 | $11,309 |
Source: Ownwell