Warwick, Pennsylvania Property Taxes
The median property tax rate in Warwick, PA is 1.58%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Warwick at $360,851, the typical annual property tax bill reaches $5,715, exceeding the national median of $2,690. Property taxes in Warwick 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 Warwick'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 Warwick 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
Warwick, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.58%
Estimate Property Tax Bill
$5,701
Ownwell’s Warwick Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Warwick with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Warwick 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 Warwick, Pennsylvania
Property taxes in Warwick, Pennsylvania, play a crucial role in financing essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Warwick is 1.58%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Warwick set these rates annually, and they can vary significantly across different neighborhoods. Each year, Warwick 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 Warwick's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 18974 zip code has the highest median property tax rate of 1.58%, while the same zip code also has the lowest median tax rate of 1.58%. Understanding how these cities compare with Warwick 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 Warwick Tax Rate
1.58%
Average Bucks County Tax Rate
1.91%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Warwick, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18974 | 1.58% | 1.58% | 1.58% | 1.58% | 1.58% |
Source: Ownwell
Property Tax Assessment Values Across Warwick, Pennsylvania
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Warwick, Pennsylvania. 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 Warwick, 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 Warwick helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Warwick is $360,851, with tax bills ranging from $4,497 at the 25th percentile to $11,324 at the 90th percentile. The highest and lowest median tax bills are both $5,715 in zip code 18974.
Average Warwick Assessed Value
$360,851
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 Warwick, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18974 | $250,638 | $283,830 | $360,851 | $456,915 | $714,181 |
Source: Ownwell
Property Tax Bills Across Warwick, Pennsylvania
In Warwick, Bucks County, PA, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and is meant to reflect the market value of the property. Homeowners in Warwick can expect their tax bills to vary significantly depending on their property's assessed value and the specific tax rates applied by local taxing authorities. For a median home price of $360,851, property tax bills can range widely. The 25th percentile tax bill is around $4,497, while the 75th percentile tax bill reaches $7,254. For those in the 90th percentile, tax bills can soar to $11,324. This variation highlights the impact of property assessments and local tax rates on homeowners' financial obligations. Comparatively, Warwick's property tax rates and bills are higher than the national median property tax rate of 0.99%. Homeowners in this area should be aware of these factors when budgeting for their annual expenses, as property taxes can significantly affect their overall financial planning.
Average Warwick Tax Bill
$5,715
Average Bucks County Tax Bill
$5,548
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Warwick, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18974 | $3,971 | $4,497 | $5,715 | $7,254 | $11,324 |
Source: Ownwell