New Britain, Pennsylvania Property Taxes
The median property tax rate in New Britain, PA is 1.76%, which is considerably higher than the national median of 0.99% but lower than Pennsylvania's state median of 2.81%. With a median home value of $260,106 in New Britain, the typical annual property tax bill amounts to $4,581, significantly surpassing the national median of $2,690. Property taxes in New Britain are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Gaining an understanding of New Britain's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in substantial annual savings. Whether you're in the heart of New Britain or another part of Bucks County, understanding the local property tax system is beneficial for both homeowners and real estate investors.
Last Updated June 14, 2024
New Britain, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.76%
Estimate Property Tax Bill
$4,578
Ownwell’s New Britain Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in New Britain with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in New Britain 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 New Britain, Pennsylvania
Property taxes in New Britain, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in New Britain is 1.76%, significantly higher than both the Pennsylvania state median of 1.46% and the U.S. national median of 0.99%. Local government entities within New Britain set these rates annually, and they can vary significantly across different neighborhoods. Each year, New Britain 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 New Britain's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the zip code 18901 has the highest median property tax rate of 1.76%, while the same zip code, 18901, also has the lowest median tax rate of 1.76%. Understanding how these cities compare with New Britain 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 New Britain Tax Rate
1.76%
Average Bucks County Tax Rate
1.91%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across New Britain, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18901 | 1.76% | 1.76% | 1.76% | 1.76% | 1.76% |
Source: Ownwell
Property Tax Assessment Values Across New Britain, Pennsylvania
In New Britain, 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 New Britain, 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 New Britain helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 18901 has the highest and lowest median tax bill of $4,581.
Property Tax Assessment Values Across New Britain, Pennsylvania
Source: Ownwell
$172,340
$489,787
$807,234
Average New Britain Assessed Value
$260,106
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 New Britain, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18901 | $34,894 | $223,404 | $260,106 | $376,809 | $768,170 |
Source: Ownwell
Property Tax Bills Across New Britain, Pennsylvania
In New Britain, Bucks County, PA, property tax bills are calculated based on the assessed value of a home, which is determined by the county's property assessor. This assessed value is a percentage of the property's market value. The tax rate, known as the millage rate, is then applied to this assessed value to calculate the annual tax bill. Homeowners in New Britain face varying tax bills depending on their property's value and the specific millage rate set by local taxing authorities. For instance, the median home price in New Britain is $260,106. Homeowners in the 25th percentile pay around $3,934 in property taxes, while those in the 75th percentile pay approximately $6,636. At the 90th percentile, the tax bill can soar to $13,528. These tax bills significantly impact homeowners, influencing their overall cost of living and financial planning. Compared to the national median property tax rate of 0.99%, New Britain's rates can be relatively higher, reflecting the region's specific economic and budgetary requirements.
Average New Britain Tax Bill
$4,581
Average Bucks County Tax Bill
$5,548
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across New Britain, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18901 | $614 | $3,934 | $4,581 | $6,636 | $13,528 |
Source: Ownwell