It’s tax time. W2 forms are in the mail, workers dressed as the Statue of Liberty are standing in front of tax preparation offices, and Americans everywhere are thinking about April 15.
But as Bucks County property tax attorneys, we’re here to talk about another tax-related deadline: August 1. That’s the last day for Bucks County property owners to appeal their property tax assessment.
Pennsylvania property taxes are based on two factors: the value of your home/commercial property as determined by your county assessment office, and the local property tax rates, which are set by your county, school district and municipality.
The assessed value is a percentage of what your home/property would sell for. To decide what you would owe, government bodies multiply the assessed value by the tax rate. So if you live in a home with an assessed value of $200,000 and the tax rate is $10 for every $1,000 of taxable value, you’ll pay a $2,000 bill.
Read more about Why Hire an Attorney for Bucks County Property Tax Appeals?