Perkasie, Pennsylvania Property Taxes
The median property tax rate in Perkasie, 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 Perkasie at $327,234, the typical annual property tax bill reaches $5,253, exceeding the national median of $2,690. Property taxes in Perkasie 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 Perkasie'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 Perkasie 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
Perkasie, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.59%
Estimate Property Tax Bill
$5,203
Ownwell’s Perkasie Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Perkasie with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Perkasie 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 Bucks County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Perkasie, Pennsylvania
Property taxes in Perkasie, Pennsylvania, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Perkasie is 1.59%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Perkasie set these rates annually, and they can vary significantly across different neighborhoods. Each year, Perkasie 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 Perkasie's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 18944 zip code has the highest median property tax rate of 1.59%, while the same zip code also has the lowest median tax rate of 1.59%. Understanding how these areas compare with Perkasie 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 Perkasie 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 Perkasie, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18944 | 1.58% | 1.59% | 1.59% | 1.60% | 1.63% |
Source: Ownwell
Property Tax Assessment Values Across Perkasie, Pennsylvania
In Perkasie, 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 Perkasie, 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 Perkasie helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 18944 has the highest and lowest median tax bill, both at $5,253, reflecting the uniformity in assessed values within the area.
Average Perkasie Assessed Value
$327,234
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 Perkasie, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18944 | $204,255 | $255,319 | $327,234 | $428,085 | $556,085 |
Source: Ownwell
Property Tax Bills Across Perkasie, Pennsylvania
In Perkasie, located in Bucks County, PA, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local tax assessor and is a percentage of the property's market value. Homeowners in Perkasie can expect their property tax bills to vary significantly depending on several factors, including the assessed value of their homes and the specific tax rates applied by local taxing authorities. For instance, the median home price in Perkasie is $327,234. Property tax bills in this area range widely, with the 25th percentile paying approximately $4,134 and the 75th percentile facing bills around $6,846. At the higher end, the 90th percentile of homeowners can see tax bills up to $8,912. These figures highlight how property taxes can impact household budgets, making it crucial for homeowners to understand their tax obligations. Compared to the national median property tax rate of 0.99%, Perkasie's rates can be relatively high, reflecting the local government's funding needs and priorities.
Average Perkasie Tax Bill
$5,253
Average Bucks County Tax Bill
$5,548
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Perkasie, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18944 | $3,330 | $4,134 | $5,253 | $6,846 | $8,912 |
Source: Ownwell