Southampton, Pennsylvania Property Taxes
The median property tax rate in Southampton, PA is 1.46%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Southampton at $228,000, the typical annual property tax bill reaches $3,319, exceeding the national median of $2,690. Property taxes in Southampton 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 Southampton'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 Southampton 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
Southampton, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.46%
Estimate Property Tax Bill
$3,329
-$34,886
Ownwell’s Southampton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Southampton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Southampton 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 Southampton, Pennsylvania
Property taxes in Southampton, Pennsylvania, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Southampton is 1.46%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Southampton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Southampton 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 Southampton's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 18966 zip code has both the highest and lowest median property tax rate of 1.46%. Understanding how these cities compare with Southampton 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 Southampton Tax Rate
1.46%
Average Lancaster County Tax Rate
2.13%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Southampton, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18966 | 1.46% | 1.46% | 1.46% | 1.46% | 1.46% |
Source: Ownwell
Property Tax Assessment Values Across Southampton, Pennsylvania
In Southampton, 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 Lancaster 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 Southampton, 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 Southampton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 18966 has the highest and lowest median tax bill at $3,319.
Property Tax Assessment Values Across Southampton, Pennsylvania
Source: Ownwell
$50,000
$197,950
$345,900
Average Southampton Assessed Value
$228,000
Average Lancaster County Assessed Value
$177,300
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Southampton, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18966 | $228,000 | $228,000 | $228,000 | $228,000 | $228,000 |
Source: Ownwell
Property Tax Bills Across Southampton, Pennsylvania
In Southampton, located in Lancaster County, PA, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For homeowners in Southampton, the median home price is $228,000. The property tax rate in this area results in a consistent tax bill of $3,319, which is notably higher than the national median property tax rate of 0.99%. Several factors influence the assessed value, including the property's size, location, and condition. Homeowners in Southampton can expect their tax bills to fall within a narrow range, with the 25th, 75th, and 90th percentiles all reporting the same tax bill of $3,319. This uniformity suggests a stable property tax environment but also highlights the importance of appealing assessments if homeowners believe their property has been overvalued. High property taxes can significantly impact household finances, making it crucial for homeowners to understand their tax calculations and explore potential exemptions or appeals.
Average Southampton Tax Bill
$3,319
Average Lancaster County Tax Bill
$3,883
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Southampton, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 18966 | $3,319 | $3,319 | $3,319 | $3,319 | $3,319 |
Source: Ownwell