Tullytown, Pennsylvania Property Taxes
The median property tax rate in Tullytown, PA is 2.53%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Tullytown, the typical annual property tax bill reaches $4,097, exceeding the national median of $2,690. Property taxes in Tullytown 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 Tullytown'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 Tullytown 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
Tullytown, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.53%
Estimate Property Tax Bill
$4,414
Ownwell’s Tullytown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tullytown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tullytown 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 Tullytown, Pennsylvania
Property taxes in Tullytown, Pennsylvania, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Tullytown is 2.53%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Tullytown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tullytown 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 Tullytown's effective property tax rate to other areas in Pennsylvania and the national median. For comparison, the zip code 19007 has both the highest and lowest median property tax rate of 2.53%. Understanding how these areas compare with Tullytown 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 Tullytown Tax Rate
2.53%
Average Bucks County Tax Rate
1.91%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tullytown, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19007 | 1.99% | 2.05% | 2.53% | 2.53% | 2.53% |
Source: Ownwell
Property Tax Assessment Values Across Tullytown, Pennsylvania
In Tullytown, 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 Tullytown, 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 Tullytown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Tullytown is $174,468, with annual tax bills ranging from $3,181 at the 25th percentile to $5,894 at the 90th percentile. The zip code 19007 has both the highest and lowest median tax bill, at $4,097.
Property Tax Assessment Values Across Tullytown, Pennsylvania
Source: Ownwell
$172,340
$489,787
$807,234
Average Tullytown Assessed Value
$174,468
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 Tullytown, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19007 | $108,085 | $144,681 | $174,468 | $217,712 | $252,404 |
Source: Ownwell
Property Tax Bills Across Tullytown, Pennsylvania
In Tullytown, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the Bucks County assessor's office and is often a percentage of the property's market value. For homeowners, this means their tax bill will vary depending on both the value of their home and the specific tax rates set by local authorities. In Tullytown, the median home price is $174,468, and the tax bills can range significantly. For example, the 25th percentile tax bill is $3,181, while the 75th percentile tax bill is $5,079, and the 90th percentile tax bill can go up to $5,894. The highest and lowest median tax bills in the area are both $4,097, which is notably higher than the national median property tax rate of 0.99%. This variation in tax bills can significantly impact homeowners, influencing their overall housing costs and financial planning.
Average Tullytown Tax Bill
$4,097
Average Bucks County Tax Bill
$5,548
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Tullytown, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19007 | $1,604 | $3,181 | $4,097 | $5,079 | $5,894 |
Source: Ownwell