Cost of Living in New Hope
New Hope pairs genuinely elevated housing costs with a comparatively moderate combined local EIT, set against Bucks County's own distinctive, comparatively high property-tax mechanic.
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Learn moreHousing runs genuinely expensive, with a real, disclosed price spread
Zillow's typical home value ran $811,176 (2026, +3.8% YoY), while separately-cited Movoto figures ran considerably higher ($1.7M median sold price in April 2026, $1.74M median list price in June 2026) -- both disclosed rather than only the lower figure.
Bucks County's distinctive 1972-assessment property tax mechanic
Bucks County still assesses homes on 1972 base-year values, applying nominal millage (New Hope-Solebury School District alone runs 120.5104 mills) against those decades-old assessed values via a Common Level Ratio (~5.6% for 2026) -- Bucks County's own median EFFECTIVE property tax rate, already normalized for this, ran a real, comparatively elevated 1.98%.
A comparatively moderate combined local EIT
New Hope Borough and the New Hope-Solebury School District each levy a 0.5% EIT (combined 1%), collected by Keystone Collections Group -- layered on Pennsylvania's flat 3.07% state income tax for a real combined approximate marginal rate of 4.07%.
A low-income EIT exemption applies
Individuals earning less than $5,000 total from all sources in a calendar year are exempt from the local EIT -- a real, disclosed exemption threshold.
Key takeaways
- New Hope's housing costs run genuinely high, with a real, disclosed spread ($811,176 to $1.7M-plus depending on source).
- Bucks County's distinctive 1972-assessment mechanic produces a real, comparatively elevated 1.98% median effective property tax rate.
- A combined 1% local EIT (0.5% borough + 0.5% school district) applies, plus PA's flat 3.07% state rate, for ~4.07% combined marginal.
- Individuals earning under $5,000/year total are exempt from the local EIT.
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