Lumberville, Pennsylvania Property Taxes
The median property tax rate in Lumberville, PA is 1.50%, considerably higher than the national median of 0.99% but lower than the Pennsylvania state median of 2.81%. With the median home value in Lumberville at $578,244, the typical annual property tax bill reaches $8,669, significantly exceeding the national median of $2,690. Property taxes in Lumberville are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Lumberville'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 Lumberville 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
Lumberville, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.5%
Estimate Property Tax Bill
$8,674
Ownwell’s Lumberville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lumberville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lumberville 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 Lumberville, Pennsylvania
Property taxes in Lumberville, PA, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Lumberville is 1.50%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Lumberville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lumberville 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 Lumberville's effective property tax rate to other areas in Pennsylvania and the national median. For comparison, the 18933 zip code has the highest median property tax rate of 1.50%, while the same zip code also has the lowest median tax rate of 1.50%. Understanding how these cities compare with Lumberville 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 Lumberville Tax Rate
1.50%
Average Bucks County Tax Rate
1.91%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lumberville, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18933 | 1.50% | 1.50% | 1.50% | 1.50% | 1.50% |
Source: Ownwell
Property Tax Assessment Values Across Lumberville, Pennsylvania
In Lumberville, 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 Lumberville, 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 highest median tax bill in Lumberville is $8,669 in zip code 18933, while the lowest median tax bill is also $8,669 in the same zip code. Being aware of these valuation processes in Lumberville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Lumberville, Pennsylvania
Source: Ownwell
$172,340
$489,787
$807,234
Average Lumberville Assessed Value
$578,244
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 Lumberville, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18933 | $361,702 | $452,873 | $578,244 | $775,745 | $929,128 |
Source: Ownwell
Property Tax Bills Across Lumberville, Pennsylvania
In Lumberville, 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 and is often a percentage of the property's market value. For instance, if the median home price in Lumberville is $578,244, the assessed value will be a fraction of this price. The local tax rate is then applied to this assessed value to determine the tax bill. Several factors influence the final tax bill, including property size, location, and any applicable exemptions or abatements. For homeowners in Lumberville, the tax bill can vary significantly. The 25th percentile tax bill is around $6,635, while the 75th percentile reaches up to $11,444. At the 90th percentile, homeowners might pay as much as $13,516. These property taxes fund essential public services like schools, infrastructure, and emergency services, directly impacting community quality. Compared to the national median property tax rate of 0.99%, Lumberville's property tax rates reflect the region's valuation and funding needs.
Average Lumberville Tax Bill
$8,669
Average Bucks County Tax Bill
$5,548
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Lumberville, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18933 | $4,997 | $6,635 | $8,669 | $11,444 | $13,516 |
Source: Ownwell