By B&B Luxury Properties
Few steps in a real estate transaction create as much anxiety as the appraisal. At B&B Luxury Properties, we help New Hope clients understand what the appraiser is looking at before the report arrives. The facts below come from the Consumer Financial Protection Bureau, Bucks County, and third-party tax sites, so some figures are dated or unofficial. Here are five things to know.
Key Takeaways
- Comparable sales: The CFPB says an appraiser looks at sales of similar homes in the area and at the property’s features.
- Copy of the report: Under the CFPB’s 2013 summary, lenders must provide free copies promptly or three days before closing, whichever is earlier.
- County assessment: Bucks County’s Board of Assessment Appeals says its primary function is to determine current market value and calculate the assessment.
- Appeal timing: Bucks County lists August 3, 2026 as the 2026 annual appeal deadline, with changes taking effect for the 2027 tax year.
Know What Appraisers Compare
The CFPB says an appraiser looks at sales of similar homes in the area and at the property’s features. Size, extra bathrooms, or a newer kitchen can add value, while a smaller footprint, needed repairs, or missing features can subtract it.
Value Drivers From the CFPB
- Comparable sales: Recently sold similar homes in the area.
- Added value: Size, extra bathrooms, or a newer kitchen.
- Subtractions: A smaller home, needed repairs, or missing features.
The CFPB document dates from 2013, so treat it as a plain-language overview. Talk with your lender about the process for your own loan.
Ask for Your Copy of the Report
The CFPB’s 2013 consumer summary says lenders must tell you within three days of receiving your application that you will promptly receive a copy of any appraisal. Copies are free and are due promptly after the report is completed or three days before closing, whichever is earlier.
Rights Summary
- Free copies: The CFPB says lenders must provide copies at no charge.
- Waiver option: A lender may ask you to waive the three-day timing so copies arrive at closing.
- Fees: The lender can charge a reasonable fee for the cost of the valuation itself.
The CFPB suggests thinking carefully before waiving, since reviewing a report takes time. The summary applies to a first mortgage on a home, so ask your lender how it applies to you.
Separate an Appraisal From a Bucks County Assessment
Bucks County’s Board of Assessment Appeals says its primary function is to determine the current market value of all properties in the county and calculate the appropriate assessment. Assessors physically look at each new construction and addition, according to the county page.
County Facts
- Board contact: The county lists 215-348-6219 and 55 E Court Street in Doylestown.
- Meetings: The board meets on the first and third Tuesday of each month at 10 am.
- Purpose: The county’s role is tax assessment, which is a separate process from a lender’s valuation.
The Property Tax Almanac, an independent site, says Bucks County has not reassessed since 1972, though the county page does not say so. Ask the Board how your assessment was set.
Read New Hope’s Numbers With Care
Ownwell, a third-party site updated April 13, 2026, lists a median home value of $504,255 for ZIP code 18938 and a median annual tax bill of $7,717. The same page contains internal inconsistencies, so treat its figures as rough context.
Third-Party Figures
- Median value: $504,255 for ZIP 18938, per Ownwell.
- Effective rate: A median effective property tax rate of 1.54 percent, per Ownwell.
- Tax bill range: $4,909 at the 25th percentile and $17,605 at the 90th, per Ownwell.
Ownwell’s page contradicts itself on how the rate compares with the national median, so verify with the county. Those figures are not appraisals and say nothing about a specific house.
Plan Around the Appeal Calendar
Bucks County’s page says the deadline for filing 2026 annual appeals was August 3, 2026, with changes taking effect for the 2027 tax year. Ownwell and the Property Tax Almanac list August 1 instead, so the county’s date is the one to rely on.
Dates to Know
- 2026 deadline: August 3, 2026, per the county, which has now passed.
- Homestead deadline: The county lists March 1, 2027 for the tax year beginning July 1, 2027.
- Next steps: Check the county page for 2027 appeal dates once they are posted.
Appeal deadlines can change, so confirm with the Board before you plan. We are not tax or legal professionals and cannot advise on an appeal.
FAQs
How do home appraisals work in Pennsylvania?
The CFPB describes an appraiser comparing a property with recently sold similar homes and weighing its features and condition. The pages we read do not say who orders an appraisal, so ask your lender. Your lender can also explain timing and fees.
Can I get a copy of my appraisal?
Under the CFPB’s 2013 summary, lenders must provide a free copy promptly or three days before closing, whichever is earlier. You may be asked to waive the timing. Think carefully before you do.
What if the appraisal comes in low?
The sources we read do not cover low appraisals, so we cannot cite a rule. Your lender can explain the next steps for your loan. Ask early, and keep your agent informed.
Reach Out to Us at B&B Luxury Properties
If you have questions about value in New Hope, reach out to B&B Luxury Properties to talk through your plans.
