Ferndale, Pennsylvania Property Taxes
The median property tax rate in Ferndale, 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 Ferndale, the typical annual property tax bill reaches $4,205, exceeding the national median of $2,690. Property taxes in Ferndale 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 Ferndale'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 Ferndale 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
Ferndale, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.41%
Estimate Property Tax Bill
$4,200
Ownwell’s Ferndale Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ferndale with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ferndale 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 Ferndale, Pennsylvania
Property taxes in Ferndale, Pennsylvania, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ferndale is 1.41%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Ferndale set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ferndale 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 Ferndale's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 18921 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 Ferndale 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 Ferndale 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 Ferndale, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18921 | 1.41% | 1.41% | 1.41% | 1.41% | 1.41% |
Source: Ownwell
Property Tax Assessment Values Across Ferndale, Pennsylvania
In Ferndale, 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 Ferndale, 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 Ferndale helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Bucks County is in the 18921 zip code, standing at $4,205.
Average Ferndale Assessed Value
$297,872
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 Ferndale, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18921 | $213,617 | $234,043 | $297,872 | $319,149 | $526,596 |
Source: Ownwell
Property Tax Bills Across Ferndale, Pennsylvania
In Ferndale, PA, property tax bills are calculated based on the assessed value of a homeowner's property. The process begins with local assessors determining the property's market value, which is then multiplied by an assessment ratio to arrive at the assessed value. This assessed value is then subjected to the local tax rate, known as the millage rate, to determine the annual property tax bill. Several factors influence the final tax bill, including property size, location, and any improvements made. For homeowners in Ferndale, the median home price is $297,872. The tax bills can vary significantly, with the 25th percentile at $3,304 and the 75th percentile at $4,506, reflecting different property values and assessment practices. At the 90th percentile, tax bills can reach as high as $7,434. Compared to the national median property tax rate of 0.99%, Ferndale's property taxes can be relatively high, impacting homeowners' annual expenses and potentially influencing decisions about property improvements and investments.
Average Ferndale Tax Bill
$4,205
Average Bucks County Tax Bill
$5,548
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Ferndale, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18921 | $3,016 | $3,304 | $4,205 | $4,506 | $7,434 |
Source: Ownwell