Erwinna, Pennsylvania Property Taxes
The median property tax rate in Erwinna, PA is 1.43%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Erwinna, the typical annual property tax bill reaches $6,043, exceeding the national median of $2,690. Property taxes in Erwinna 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 Erwinna'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 Erwinna 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
Erwinna, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.43%
Estimate Property Tax Bill
$6,039
Ownwell’s Erwinna Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Erwinna with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Erwinna 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 Erwinna, Pennsylvania
Property taxes in Erwinna, Pennsylvania, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Erwinna is 1.43%, significantly higher than the U.S. national median of 0.99%. Local government entities within Erwinna set these rates annually, and they can vary significantly across different neighborhoods. Each year, Erwinna 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 Erwinna's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the zip code 18920 has the highest median property tax rate of 1.43%, while the same zip code also has the lowest median tax rate of 1.43%. Understanding how these cities compare with Erwinna 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 Erwinna Tax Rate
1.43%
Average Bucks County Tax Rate
1.91%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Erwinna, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18920 | 1.43% | 1.43% | 1.43% | 1.43% | 1.43% |
Source: Ownwell
Property Tax Assessment Values Across Erwinna, Pennsylvania
In Erwinna, 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 Erwinna, 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. Erwinna's median home price is $422,340, and the median tax bill ranges from $4,854 at the 25th percentile to $13,278 at the 90th percentile. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Erwinna Assessed Value
$422,340
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 Erwinna, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18920 | $245,787 | $336,171 | $422,340 | $627,766 | $931,234 |
Source: Ownwell
Property Tax Bills Across Erwinna, Pennsylvania
Property tax bills in Erwinna, PA, are calculated based on the assessed value of a property, which is determined by the Bucks County assessor's office. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For example, with a median home price of $422,340, homeowners can expect a median tax bill around $6,043, which is significantly higher than the national median property tax rate of 0.99%. Several factors influence the tax bill, including the property's market value, improvements made to the property, and any applicable exemptions. For instance, properties at the 25th percentile have a tax bill of $4,854, while those at the 75th percentile face a tax bill of $8,980. At the 90th percentile, the tax bill can go up to $13,278. These variations can significantly impact homeowners' financial planning, making it crucial to understand how property taxes are assessed and what factors may affect their annual obligations.
Average Erwinna Tax Bill
$6,043
Average Bucks County Tax Bill
$5,548
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Erwinna, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18920 | $3,543 | $4,854 | $6,043 | $8,980 | $13,278 |
Source: Ownwell