Washington Crossing, Pennsylvania Property Taxes
The median property tax rate in Washington Crossing, PA is 1.56%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Washington Crossing at $531,915, the typical annual property tax bill reaches $8,377, exceeding the national median of $2,690. Property taxes in Washington Crossing 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 Washington Crossing'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 Washington Crossing 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
Washington Crossing, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.56%
Estimate Property Tax Bill
$8,298
Ownwell’s Washington Crossing Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Washington Crossing with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Washington Crossing 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 Washington Crossing, Pennsylvania
Property taxes in Washington Crossing, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Washington Crossing is 1.56%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Washington Crossing set these rates annually, and they can vary significantly across different neighborhoods. Each year, Washington Crossing 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 Washington Crossing's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 18977 zip code has the highest median property tax rate of 1.56%, while the same zip code also has the lowest median tax rate of 1.56%. Understanding how these cities compare with Washington Crossing 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 Washington Crossing Tax Rate
1.56%
Average Bucks County Tax Rate
1.91%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Washington Crossing, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18977 | 1.56% | 1.56% | 1.56% | 1.56% | 1.56% |
Source: Ownwell
Property Tax Assessment Values Across Washington Crossing, Pennsylvania
In Washington Crossing, 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 Washington Crossing, 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 Washington Crossing helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price here is $531,915, with the highest and lowest median tax bill being $8,377 in the 18977 zip code.
Property Tax Assessment Values Across Washington Crossing, Pennsylvania
Source: Ownwell
$172,340
$489,787
$807,234
Average Washington Crossing Assessed Value
$531,915
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 Washington Crossing, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18977 | $322,553 | $428,085 | $531,915 | $629,787 | $768,851 |
Source: Ownwell
Property Tax Bills Across Washington Crossing, Pennsylvania
In Washington Crossing, Bucks County, PA, property tax bills are calculated based on the assessed value of the home and the local tax rate. The assessed value is determined by the county assessor, who evaluates the property's market value and applies an assessment ratio. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For homeowners in Washington Crossing, the median home price is $531,915. Property tax bills can vary significantly, with the 25th percentile bill at $6,788 and the 75th percentile at $9,856. The 90th percentile tax bill reaches up to $12,933. The highest median tax bill in the area is $8,377, which is notably higher than the national median property tax rate of 0.99%. These tax bills can have a substantial impact on homeowners, influencing their overall housing costs and financial planning. Understanding how these taxes are calculated can help homeowners anticipate their expenses and manage their budgets more effectively.
Average Washington Crossing Tax Bill
$8,377
Average Bucks County Tax Bill
$5,548
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Washington Crossing, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18977 | $5,257 | $6,788 | $8,377 | $9,856 | $12,933 |
Source: Ownwell