Bensalem, Pennsylvania Property Taxes
The median property tax rate in Bensalem, PA is 1.99%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Bensalem, the typical annual property tax bill reaches $4,812, exceeding the national median of $2,690. Property taxes in Bensalem 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 Bensalem'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 Bensalem 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
Bensalem, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.99%
Estimate Property Tax Bill
$4,799
Ownwell’s Bensalem Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in Bensalem. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Bensalem to provide an accurate estimate of your property tax bill. This easy-to-use tool offers a clear understanding of your potential tax liabilities, making financial planning more straightforward. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value, determined by Bucks County, is crucial for these calculations, factoring in any applicable exemptions.
Property Tax Rates Across Bensalem, Pennsylvania
Property taxes in Bensalem, Pennsylvania, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bensalem is 1.99%, significantly higher than the U.S. national median of 0.99%. Local government entities within Bensalem set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bensalem 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 Bensalem's effective property tax rate to other areas and the national median. For comparison, the 19020 zip code has the highest median property tax rate of 1.99%, while the same 19020 zip code also has the lowest median tax rate of 1.99%. Understanding how these rates compare with Bensalem 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 Bensalem Tax Rate
1.99%
Average Bucks County Tax Rate
1.91%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bensalem, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19020 | 1.99% | 1.99% | 1.99% | 1.99% | 1.99% |
Source: Ownwell
Property Tax Assessment Values Across Bensalem, Pennsylvania
In Bensalem, 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 Bensalem, 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. For instance, the zip code 19020 in Bensalem has both the highest and lowest median tax bill at $4,812. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Bensalem Assessed Value
$241,170
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 Bensalem, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19020 | $152,766 | $195,745 | $241,170 | $318,218 | $388,936 |
Source: Ownwell
Property Tax Bills Across Bensalem, Pennsylvania
In Bensalem, located in Bucks County, PA, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by local assessors and is meant to reflect the market value of the property. This value is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $241,170, homeowners in Bensalem can expect varying tax bills. Factors such as property location, size, and improvements can influence the assessed value. In Bensalem, the 25th percentile tax bill is around $3,903, while the 75th percentile tax bill reaches $6,347. The 90th percentile tax bill is even higher, at $7,747. The median tax bill stands at $4,812, which is significantly higher than the national median property tax rate of 0.99%. These tax bills can have a substantial impact on homeowners, affecting their annual budget and overall cost of homeownership. Understanding these factors can help homeowners plan and manage their finances more effectively.
Average Bensalem Tax Bill
$4,812
Average Bucks County Tax Bill
$5,548
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Bensalem, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 19020 | $2,972 | $3,903 | $4,812 | $6,347 | $7,747 |
Source: Ownwell