Upper Black Eddy, Pennsylvania Property Taxes
The median property tax rate in Upper Black Eddy, PA is 1.41%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Upper Black Eddy at $331,915, the typical annual property tax bill reaches $4,710, exceeding the national median of $2,690. Property taxes in Upper Black Eddy 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 Upper Black Eddy'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 Upper Black Eddy 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
Upper Black Eddy, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.41%
Estimate Property Tax Bill
$4,680
Ownwell’s UPPER BLACK EDDY Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in UPPER BLACK EDDY with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in UPPER BLACK EDDY 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 Upper Black Eddy, Pennsylvania
Property taxes in Upper Black Eddy, Pennsylvania, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Upper Black Eddy is 1.41%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Upper Black Eddy set these rates annually, and they can vary significantly across different neighborhoods. Each year, Upper Black Eddy 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 Upper Black Eddy's effective property tax rate to other areas in Bucks County and the national median. For comparison, the 18972 zip code has the highest median property tax rate of 1.41%, while the same zip code also has the lowest median tax rate of 1.41%. Understanding how these cities compare with Upper Black Eddy 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 Upper Black Eddy Tax Rate
1.41%
Average Bucks County Tax Rate
1.91%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Upper Black Eddy, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18972 | 1.40% | 1.40% | 1.41% | 1.43% | 1.43% |
Source: Ownwell
Property Tax Assessment Values Across Upper Black Eddy, Pennsylvania
In Upper Black Eddy, 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 Upper Black Eddy, 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. The median home price in this area is $331,915, with tax bills ranging from $3,544 at the 25th percentile to $8,161 at the 90th percentile. The highest and lowest median tax bills are both $4,710, found in the 18972 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Upper Black Eddy, Pennsylvania
Source: Ownwell
$172,340
$489,787
$807,234
Average Upper Black Eddy Assessed Value
$331,915
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 Upper Black Eddy, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18972 | $191,489 | $251,064 | $331,915 | $438,298 | $574,979 |
Source: Ownwell
Property Tax Bills Across Upper Black Eddy, Pennsylvania
In Upper Black Eddy, Bucks County, PA, property tax bills are calculated based on the assessed value of a home, which is determined by local tax authorities. The assessed value is a percentage of the home's market value, and this figure is multiplied by the local tax rate to determine the annual tax bill. For example, with a median home price of $331,915, homeowners in Upper Black Eddy can expect a tax bill that varies significantly. The 25th percentile tax bill is around $3,544, while the 75th percentile reaches $6,191, and the 90th percentile can go up to $8,161. These variations reflect differences in home values and specific neighborhood tax rates. Compared to the national median property tax rate of 0.99%, the property tax rates in Upper Black Eddy can be relatively high, impacting homeowners by increasing their annual financial obligations. This makes understanding and potentially appealing property tax assessments crucial for managing household expenses effectively.
Average Upper Black Eddy Tax Bill
$4,710
Average Bucks County Tax Bill
$5,548
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Upper Black Eddy, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18972 | $2,707 | $3,544 | $4,710 | $6,191 | $8,161 |
Source: Ownwell