Springtown, Pennsylvania Property Taxes
The median property tax rate in Springtown, PA is 1.51%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Springtown at $293,617, the typical annual property tax bill reaches $4,421, exceeding the national median of $2,690. Property taxes in Springtown 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 Springtown'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 Springtown 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
Springtown, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.51%
Estimate Property Tax Bill
$4,434
Ownwell’s SPRINGTOWN Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in SPRINGTOWN with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in SPRINGTOWN 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 Springtown, Pennsylvania
Property taxes in Springtown, Pennsylvania, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Springtown is 1.51%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Springtown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Springtown 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 Springtown's effective property tax rate to other areas in Pennsylvania and the national median. For comparison, the zip code 18081 has the highest median property tax rate of 1.51%, while the same zip code also has the lowest median tax rate of 1.51%. Understanding how these areas compare with Springtown 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 Springtown Tax Rate
1.51%
Average Bucks County Tax Rate
1.91%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Springtown, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18081 | 1.51% | 1.51% | 1.51% | 1.51% | 1.51% |
Source: Ownwell
Property Tax Assessment Values Across Springtown, Pennsylvania
In Springtown, 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 Springtown, 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 Springtown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bills in the area is 18081, with a median tax bill of $4,421.
Property Tax Assessment Values Across Springtown, Pennsylvania
Source: Ownwell
$172,340
$489,787
$807,234
Average Springtown Assessed Value
$293,617
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 Springtown, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18081 | $186,383 | $251,489 | $293,617 | $325,532 | $355,915 |
Source: Ownwell
Property Tax Bills Across Springtown, Pennsylvania
In Springtown, located in Bucks County, PA, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as the home's size, location, and market conditions can influence its assessed value. For homeowners in Springtown, the median home price is $293,617. Property tax bills in this area vary significantly, with the 25th percentile at $3,787 and the 75th percentile at $4,902. At the 90th percentile, the tax bill reaches $5,359. These figures highlight the range of property tax burdens homeowners might face, depending on their property's assessed value and specific characteristics. Compared to the national median property tax rate of 0.99%, homeowners in Springtown may find their tax rates somewhat comparable, though individual bills can vary widely. Understanding these factors is crucial for homeowners to anticipate and manage their annual property tax expenses effectively.
Average Springtown Tax Bill
$4,421
Average Bucks County Tax Bill
$5,548
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Springtown, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18081 | $2,807 | $3,787 | $4,421 | $4,902 | $5,359 |
Source: Ownwell