Pt Pleasant, Pennsylvania Property Taxes
The median property tax rate in PT PLEASANT, 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 PT PLEASANT, the typical annual property tax bill reaches $7,257, exceeding the national median of $2,690. Property taxes in PT PLEASANT 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 PT PLEASANT'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 PT PLEASANT 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
Pt Pleasant, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.43%
Estimate Property Tax Bill
$7,278
Ownwell’s PT PLEASANT Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in PT PLEASANT with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in PT PLEASANT 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 Pt Pleasant, Pennsylvania
Property taxes in PT PLEASANT, Pennsylvania, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in PT PLEASANT is 1.43%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within PT PLEASANT set these rates annually, and they can vary significantly across different neighborhoods. Each year, PT PLEASANT 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 PT PLEASANT's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 18950 zip code has the highest median property tax rate of 1.43%, while the same zip code also has the lowest median tax rate of 1.43%. Understanding how these cities compare with PT PLEASANT 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 Pt Pleasant 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 Pt Pleasant, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18950 | 1.43% | 1.43% | 1.43% | 1.43% | 1.43% |
Source: Ownwell
Property Tax Assessment Values Across Pt Pleasant, Pennsylvania
In PT PLEASANT, 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 Appraisal District 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 PT PLEASANT, 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 PT PLEASANT helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills are both $7,257, with the zip code 18950.
Property Tax Assessment Values Across Pt Pleasant, Pennsylvania
Source: Ownwell
$172,340
$489,787
$807,234
Average Pt Pleasant Assessed Value
$508,936
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 Pt Pleasant, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18950 | $508,936 | $508,936 | $508,936 | $508,936 | $508,936 |
Source: Ownwell
Property Tax Bills Across Pt Pleasant, Pennsylvania
In Pt Pleasant, Bucks County, PA, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The median home price in the area is $508,936. Property tax rates in Pt Pleasant are notably higher than the national median property tax rate of 0.99%, with homeowners facing a median tax bill of $7,257. This tax bill remains consistent across various percentiles, indicating a uniform rate applied to assessed properties. Several factors influence the tax bill, including the property's assessed value, local tax rates, and any applicable exemptions. The assessed value is a percentage of the market value, which is then multiplied by the local tax rate to determine the annual tax bill. Higher property taxes can affect homeowners by increasing the overall cost of homeownership, potentially impacting affordability and resale value. For residents of Pt Pleasant, understanding these factors is crucial for financial planning and managing property-related expenses.
Average Pt Pleasant Tax Bill
$7,257
Average Bucks County Tax Bill
$5,548
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Pt Pleasant, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18950 | $7,257 | $7,257 | $7,257 | $7,257 | $7,257 |
Source: Ownwell