Richboro, Bucks County, Pennsylvania Property Taxes

Name: Property Tax Bills Across Richboro, Bucks County, Pennsylvania
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Richboro, PA effective property tax rate: 1.71%, significantly higher than the national median of 1.02%, but lower than the Pennsylvania state median of 2.81%. Median Richboro, PA home value: $427,660. Median annual Richboro, PA tax bill: $7,305, $4,905 higher than the national median property tax bill of $2,400.

How are property taxes in Bucks County calculated?

Property taxes in Richboro, PA are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Richboro’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Richboro, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Richboro, Bucks County, Pennsylvania Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.71%

Estimate Property Tax Bill

$7,313

$6,786

Ownwell’s Richboro Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Richboro with just two data points. By entering your property's estimated assessed value, our calculator applies Richboro’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations.

This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Bucks County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Richboro, Bucks County, Pennsylvania

Local government entities are responsible for setting property tax rates, which can differ significantly within a state. Each year, counties calculate the budget needed to provide essential services and divide that by the total assessed value of all taxable property in their jurisdiction to determine the property tax rate. This process, though influenced by votes and legislation, is essentially how annual tax rates are established.

In Richboro, located in Bucks County, the effective property tax rate is worth noting. Richboro's tax rate reflects the county's approach to budgeting and property assessment. When comparing Richboro’s property tax rate to other cities in Pennsylvania, it's important to consider the median property tax rates within the state and across the nation.

Pennsylvania's median property tax rate stands at 1.71%, which is notably higher than the national median of 1.02%. This comparison highlights the variability in property tax rates and the importance of understanding local tax structures. Richboro's property tax rate aligns with the highest and lowest median tax rates in Bucks County, emphasizing the consistency within the area.

Property Tax Rates Across Richboro, Bucks County, Pennsylvania

Source: Ownwell

1.41%

1.97%

2.53%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Richboro Tax Rate

1.71%

Median Effective Bucks County Tax Rate

1.91%

Median Effective Pennsylvania Tax Rate

2.81%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Richboro, Bucks County, Pennsylvania

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
18954	1.71%	1.71%	1.71%	1.71%	1.71%

Source: Ownwell

Property Tax Assessment Values Across Richboro, Bucks County, Pennsylvania

When examining property taxes in Richboro, PA, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Bucks County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.

In Bucks County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Richboro. For example, the median home price in Richboro is $427,660, with tax bills ranging significantly across the county. Zip code 18954 has the highest median home price at $427,660.

Property Tax Assessment Values Across Richboro, Bucks County, Pennsylvania

Source: Ownwell

$174,468

$430,665

$686,862

Median Richboro Market Value

$427,660

Median Bucks County Market Value

$300,000

Median Pennsylvania Market Value

$114,400

Median United States Market Value

$235,294

Property Tax Assessment Values Across Richboro, Bucks County, Pennsylvania

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
18954	$302,128	$361,702	$427,660	$576,223	$694,405

Source: Ownwell

Property Tax Bills Across Richboro, Bucks County, Pennsylvania

In Richboro, Bucks County, PA, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The tax rate, or millage rate, is applied to this assessed value to determine the annual tax bill. Richboro homeowners face a median tax bill of $7,305, significantly higher than the national median of $2,400. Factors influencing property tax bills include changes in home values and local government budgets. Homeowners in Richboro may find their property tax bills ranging from the 25th percentile at $6,172 to the 90th percentile at $11,832, depending on their property's value and location. High property taxes can significantly affect homeowners' finances, making it crucial to ensure that assessments are accurate. Ownwell provides expert property tax appeal services, helping homeowners potentially reduce their tax bills by ensuring their property is assessed fairly. By analyzing market trends and comparable properties, Ownwell can identify discrepancies and advocate for a fairer assessment, potentially leading to substantial savings.

Property Tax Bills Across Richboro, Bucks County, Pennsylvania

Source: Ownwell

$2,440

$6,369

$10,298

Median Richboro Tax Bill

$7,305

Median Bucks County Tax Bill

$5,548

Median Pennsylvania Tax Bill

$3,063

Median United States Tax Bill

$2,400

Property Tax Bills Across Richboro, Bucks County, Pennsylvania

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
18954	$5,172	$6,172	$7,305	$9,800	$11,832

Source: Ownwell