Hilltown, Pennsylvania Property Taxes
The median property tax rate in Hilltown, 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 Hilltown, the typical annual property tax bill reaches $4,857, exceeding the national median of $2,690. Property taxes in Hilltown 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 Hilltown'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 Hilltown 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
Hilltown, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.59%
Estimate Property Tax Bill
$4,848
Ownwell’s Hilltown Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Hilltown with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Hilltown to provide an estimate of your property tax bill. This valuable tool helps you grasp potential tax obligations, making financial planning easier. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is determined by the county for tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Hilltown, Pennsylvania
Property taxes in Hilltown, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hilltown is 1.59%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Hilltown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hilltown 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 Hilltown's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 18927 zip code has the highest median property tax rate of 1.59%, while the 18927 zip code also has the lowest median tax rate of 1.59%. Understanding how these areas compare with Hilltown 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 Hilltown 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 Hilltown, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18927 | 1.59% | 1.59% | 1.59% | 1.59% | 1.59% |
Source: Ownwell
Property Tax Assessment Values Across Hilltown, Pennsylvania
In Hilltown, 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 Hilltown, 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 Hilltown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Hilltown is $4,857 in the 18927 zip code.
Average Hilltown Assessed Value
$304,894
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 Hilltown, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18927 | $211,787 | $261,862 | $304,894 | $417,766 | $508,511 |
Source: Ownwell
Property Tax Bills Across Hilltown, Pennsylvania
In Hilltown, located in Bucks County, PA, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. The tax bill is then derived by applying the local tax rate to this assessed value. For homeowners in Hilltown, various factors influence their property tax bills, including the home's assessed value, the local tax rate, and any applicable exemptions or deductions. For example, the median home price in Hilltown is $304,894, and the property tax bills vary significantly. Homeowners in the 25th percentile pay around $4,171, while those in the 75th percentile face tax bills of approximately $6,655. At the 90th percentile, the tax bill can reach up to $8,100. These variations highlight how property values and local tax rates can impact the financial burden on homeowners. Comparatively, the national median property tax rate is 0.99%, making Hilltown's property taxes relatively high. This can affect homeowners' decisions regarding purchasing or maintaining their properties in the area.
Average Hilltown Tax Bill
$4,857
Average Bucks County Tax Bill
$5,548
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Hilltown, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18927 | $3,374 | $4,171 | $4,857 | $6,655 | $8,100 |
Source: Ownwell