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How Property Taxes Work in Warminster

Taxing Authorities If you are a property owner in Warminster, you have three separate local taxing authorities. These are, Warminster Township, Bucks County and the Centennial School District (CSD). You receive two property tax bills each year. In early spring you receive a bill for the township and county portion of your taxes, while the bill you receive in the summer is for the CSD. Each of these taxing authorities set their own tax rates, which is based on the assessed value of your property.

Property Assessment Properties in Warminster are assessed when the county decides an assessment is needed. In Bucks county, a county-wide assessment hasn’t been done since 1972. Any development in the township (or county) that was built after 1972, those properties were assessed at the time of development. For example, if you house was built prior to 1972, your assessment is based on that 1972 assessment. If your house was built after 1972, your assessment is based on the value of the property when it was built. Regardless of when your home was built, if you had a significant remodel after 1972, your property was most likely reassessed at the time of that remodel. The property assessment is a way to determine the market value of your property (land) and home (building). This is the starting point for determining the assessed value of your property for tax purposes.

Calculating the assessed value of your property. Every property in Warminster has an assessed market value assigned to it, whether that value was determined in 1972 or after. This market value is then divided by the Common Level Ratio (CLR), which is a way to equalize the assessed value between older homes and new homes. This is generally only used at the time of the last assessment, but not after that point, to determine what your assessed value is for taxing purposes. The current CLR for Bucks county (2019-2020) is 10.64. How this works is, if you have a new home that was purchased in 2019 for $400,000, that home may have an assessed market value of $380,000. Remember, the assessed market value doesn’t always equal the purchase price, but rather what the county thinks is the market value of that property. This assessed market value is divided by the CLR to determine the assessed value for tax purposes.

Here’s the math: Assessed Market Value: $380,000 CLR: 10.64

$380,000 / 10.64 = $35,714 (Taxable amount)

To find the assessed value of your property, click on the link below, enter your address, select “Search”, select your property and then click on “Assessment History” on the left-hand side of the page. The amount under the “Total Asmt” column for the current year is what your taxes are based on for the current year.

Millage Rate The millage rate is the rate per $1,000 of assessed taxable amount of your property. In our example, 1 mill would equal $35.71. The current millage rate for Warminster Township is 23.06 mills. What this means is that for every $1,000 of assessed value of your property, you will pay $23.06 in property taxes to Warminster Township. For our example, a property with an assessed taxable value of $35,714 would pay $823.56. That is calculated like this: ($35,714/1,000) * 23.06 = $823.56. Keep in mind that this is only the township portion of your taxes, which is the lowest of the three taxing authorities for township property owners.

Where your taxes go As previously stated, there are three separate taxing authorities for Warminster Township property owners. The largest of the three is the Centennial School District (CSD), which takes more than 3 of every four dollars that you pay in property taxes. The other two authorities are the county and the township, which more or less splits the final dollar of each four that you pay.

For 2020, the current mill rate for the three taxing authorities is as follows: CSD : 144.2716 mills Bucks: 24.45 mills Warminster: 23.06 mills

Again, if we use the example property from above, a property with an assessed value of $35,714 would pay the following in taxes:

To the CSD: $5,152.52 To Bucks County: $873.21 To Warminster Township: $823.56 Total Taxes: $6,849.29

Currently, the average home in Warminster has an assessed market value of about $250,000, or about $25,000 in assessed tax value, which means the average amount paid in total property taxes for the current year will be about $4,794.54

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