Trevose, Pennsylvania Property Taxes
The median property tax rate in Trevose, PA is 1.98%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Trevose at $238,298, the typical annual property tax bill reaches $4,721, exceeding the national median of $2,690. Property taxes in Trevose 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 Trevose'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 Trevose 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
Trevose, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.98%
Estimate Property Tax Bill
$4,718
Ownwell’s Trevose Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Trevose with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Trevose 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 Trevose, Pennsylvania
Property taxes in Trevose, PA, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Trevose is 1.98%, which is significantly higher than the U.S. national median of 0.99%. Local government entities within Trevose set these rates annually, and they can vary significantly across different neighborhoods. Each year, Trevose 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 Trevose's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 19053 zip code has the highest median property tax rate of 1.98%, while the same zip code also has the lowest median tax rate of 1.98%. Understanding how these cities compare with Trevose 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 Trevose Tax Rate
1.98%
Average Bucks County Tax Rate
1.91%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Trevose, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19053 | 1.98% | 1.98% | 1.98% | 1.98% | 1.98% |
Source: Ownwell
Property Tax Assessment Values Across Trevose, Pennsylvania
In Trevose, 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 Trevose, 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 Trevose helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Trevose is $238,298, with the median tax bill at $4,721. The zip code 19053 has both the highest and lowest median tax bills at $4,721.
Average Trevose Assessed Value
$238,298
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 Trevose, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19053 | $238,298 | $238,298 | $238,298 | $238,298 | $238,298 |
Source: Ownwell
Property Tax Bills Across Trevose, Pennsylvania
In Trevose, 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. This assessed value is then multiplied by the local tax rate to calculate the annual property tax bill. For homeowners in Trevose, the median home price is $238,298, and the median property tax bill is consistently $4,721, which is notably higher than the national median property tax rate of 0.99%. Factors such as property size, location, and any improvements can influence the assessed value, thereby affecting the tax bill. Homeowners should be aware that a higher assessed value or increased market value will result in a higher tax bill. Understanding these factors can help homeowners better anticipate their property tax obligations and manage their finances accordingly.
Average Trevose Tax Bill
$4,721
Average Bucks County Tax Bill
$5,548
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Trevose, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19053 | $4,721 | $4,721 | $4,721 | $4,721 | $4,721 |
Source: Ownwell