Ottsville, Pennsylvania Property Taxes
The median property tax rate in Ottsville, PA is 1.43%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Ottsville at $382,925, the typical annual property tax bill reaches $5,606, exceeding the national median of $2,690. Property taxes in Ottsville 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 Ottsville'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 Ottsville 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
Ottsville, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.43%
Estimate Property Tax Bill
$5,476
Ownwell’s Ottsville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ottsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ottsville 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 Ottsville, Pennsylvania
Property taxes in Ottsville, Pennsylvania, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ottsville is 1.43%, higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Ottsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ottsville 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 Ottsville's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 18942 zip code has the highest median property tax rate of 1.43%, while the 18942 zip code also has the lowest median tax rate of 1.43%. Understanding how these areas compare with Ottsville 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 Ottsville Tax Rate
1.43%
Average Bucks County Tax Rate
1.91%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ottsville, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18942 | 1.41% | 1.41% | 1.43% | 1.58% | 1.58% |
Source: Ownwell
Property Tax Assessment Values Across Ottsville, Pennsylvania
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Ottsville, 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 Ottsville, 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 Ottsville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 18942 has the highest and lowest median tax bill, both at $5,606.
Property Tax Assessment Values Across Ottsville, Pennsylvania
Source: Ownwell
$172,340
$489,787
$807,234
Average Ottsville Assessed Value
$382,925
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 Ottsville, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18942 | $208,510 | $282,979 | $382,925 | $506,383 | $682,500 |
Source: Ownwell
Property Tax Bills Across Ottsville, Pennsylvania
In Ottsville, PA, property tax bills are calculated based on the assessed value of a home and the local tax rate set by Bucks County. The assessed value is a percentage of the market value, which is determined by the county’s property assessor. Homeowners in Ottsville face a median home price of $382,925, and the property tax rate is applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including any applicable exemptions or deductions. For example, Bucks County offers various homestead exemptions that can lower the taxable value of a property, reducing the overall tax burden for qualifying homeowners. The tax bills in Ottsville can range significantly, with the 25th percentile at $4,145 and the 75th percentile at $7,508. The 90th percentile can reach up to $10,124, indicating a wide variance based on property values and individual circumstances. Compared to the national median property tax rate of 0.99%, Ottsville's property tax bills reflect the local economic conditions and property values, impacting homeowners' annual financial planning.
Average Ottsville Tax Bill
$5,606
Average Bucks County Tax Bill
$5,548
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Ottsville, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18942 | $3,184 | $4,145 | $5,606 | $7,508 | $10,124 |
Source: Ownwell