Hopewell, Pennsylvania Property Taxes
The median property tax rate in Hopewell, PA is 4.78%, significantly higher than both the national median of 0.99% and Pennsylvania's state median of 2.81%. With the median home value in Hopewell at $44,380, the typical annual property tax bill reaches $2,119, which is below the national median of $2,690. Property taxes in Hopewell are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Hopewell'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 Hopewell 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
Hopewell, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
4.78%
Estimate Property Tax Bill
$2,121
Ownwell’s Hopewell Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hopewell with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hopewell 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 Hopewell, Pennsylvania
Property taxes in Hopewell, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hopewell is 1.35%, higher than both the Pennsylvania state median of 1.29% and the U.S. national median of 0.99%. Local government entities within Hopewell set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hopewell 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 Hopewell's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 16650 zip code has the highest median property tax rate of 1.35%, while the same 16650 zip code also has the lowest median tax rate of 1.35%. Understanding how these cities compare with Hopewell provides valuable insights into the varying tax landscape across Fulton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hopewell Tax Rate
4.78%
Average Fulton County Tax Rate
4.59%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hopewell, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16650 | 4.78% | 4.78% | 4.78% | 4.78% | 4.78% |
Source: Ownwell
Property Tax Assessment Values Across Hopewell, Pennsylvania
In Hopewell, 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 Fulton 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 Hopewell, 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. The median home price in Hopewell is $44,380, with median tax bills ranging around $2,119. The zip code with the highest median tax bill is 16650, also at $2,119, the same as the lowest. 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 Hopewell helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Hopewell Assessed Value
$44,380
Average Fulton County Assessed Value
$13,800
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hopewell, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16650 | $44,380 | $44,380 | $44,380 | $44,380 | $44,380 |
Source: Ownwell
Property Tax Bills Across Hopewell, Pennsylvania
In Hopewell, property tax bills are calculated by multiplying the assessed value of a property by the local tax rate. The assessed value is determined by the county's property assessor and is based on factors such as the property's market value, location, and any improvements made. For instance, the median home price in Hopewell is $44,380, which serves as a baseline for tax calculations. Homeowners in Hopewell can expect their tax bills to be relatively consistent across the board, with the 25th, 75th, and 90th percentiles all at $2,119. This uniformity indicates a standardized approach to property tax assessments in the area. Notably, the highest and lowest median tax bills in the county are also $2,119, suggesting a stable tax environment. Compared to the national median property tax rate of 0.99%, Hopewell's property taxes may seem higher, impacting homeowners by increasing their annual expenses. Understanding these factors can help homeowners anticipate their financial obligations and plan accordingly.
Average Hopewell Tax Bill
$2,119
Average Fulton County Tax Bill
$734
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Hopewell, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16650 | $2,119 | $2,119 | $2,119 | $2,119 | $2,119 |
Source: Ownwell