Spinnerstown, Pennsylvania Property Taxes
The median property tax rate in Spinnerstown, PA is 1.88%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Spinnerstown at $279,787, the typical annual property tax bill reaches $5,251, exceeding the national median of $2,690. Property taxes in Spinnerstown 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 Spinnerstown'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 Spinnerstown or another part of Bucks County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Spinnerstown, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.88%
Estimate Property Tax Bill
$5,260
Ownwell’s Spinnerstown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Spinnerstown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Spinnerstown 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 Spinnerstown, Pennsylvania
Property taxes in Spinnerstown, Pennsylvania, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Spinnerstown is 1.88%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Spinnerstown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Spinnerstown 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 Spinnerstown's effective property tax rate to other areas in Bucks County and the national median. For comparison, the 18968 zip code has the highest median property tax rate of 1.88%, while the same zip code also has the lowest median tax rate of 1.88%. Understanding how these figures compare with Spinnerstown 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 Spinnerstown Tax Rate
1.88%
Average Bucks County Tax Rate
1.91%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Spinnerstown, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18968 | 1.88% | 1.88% | 1.88% | 1.88% | 1.88% |
Source: Ownwell
Property Tax Assessment Values Across Spinnerstown, Pennsylvania
In Spinnerstown, 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 Spinnerstown, 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 Spinnerstown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Spinnerstown's median home price is $279,787, with median tax bills ranging from $4,982 at the 25th percentile to $5,682 at the 90th percentile.
Property Tax Assessment Values Across Spinnerstown, Pennsylvania
Source: Ownwell
$172,340
$489,787
$807,234
Average Spinnerstown Assessed Value
$279,787
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 Spinnerstown, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18968 | $256,808 | $265,425 | $279,787 | $294,149 | $302,766 |
Source: Ownwell
Property Tax Bills Across Spinnerstown, Pennsylvania
In Spinnerstown, located in Bucks County, PA, property tax bills are calculated based on the assessed value of a home and the local tax rate. For homeowners, the assessed value is determined by the county and reflects a percentage of the property's market value. The local tax rate is then applied to this assessed value to calculate the annual tax bill. Factors such as property size, location, and any improvements can influence the assessed value, ultimately affecting the tax bill. For instance, the median home price in Spinnerstown is $279,787. Homeowners in the 25th percentile of tax bills pay around $4,982, while those in the 75th percentile pay approximately $5,521. The 90th percentile tax bill can reach up to $5,682. These property taxes can significantly impact homeowners, as they are a recurring expense that must be budgeted for annually. Comparing this to the national median property tax rate of 0.99%, Spinnerstown's rates may appear higher, reflecting the local government's revenue needs and the area's property values.
Average Spinnerstown Tax Bill
$5,251
Average Bucks County Tax Bill
$5,548
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Spinnerstown, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18968 | $4,820 | $4,982 | $5,251 | $5,521 | $5,682 |
Source: Ownwell