Cresson, Pennsylvania Property Taxes
The median property tax rate in Cresson, PA, is 9.43%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Cresson, the typical annual property tax bill reaches $1,149, exceeding the national median of $2,690. Property taxes in Cresson are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Cresson's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Cresson or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Cresson, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
9.43%
Estimate Property Tax Bill
$1,114
Ownwell’s Cresson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cresson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cresson to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Cresson, Pennsylvania
Property taxes in Cresson, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cresson is 9.43%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Cresson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cresson estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Cresson's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 16630 zip code has the highest median property tax rate of 9.43%, while the 16630 zip code also has the lowest median tax rate of 9.43%. Understanding how these cities compare with Cresson provides valuable insights into the varying tax landscape across Cambria County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cresson Tax Rate
9.43%
Average Cambria County Tax Rate
10.13%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cresson, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16630 | 9.43% | 9.43% | 9.43% | 10.10% | 10.10% |
Source: Ownwell
Property Tax Assessment Values Across Cresson, Pennsylvania
In Cresson, Pennsylvania, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Cambria County Assessment Office for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Cresson, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Cresson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $1,149, found in zip code 16630.
Average Cresson Assessed Value
$11,810
Average Cambria County Assessed Value
$12,040
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cresson, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16630 | $6,060 | $8,580 | $11,810 | $17,890 | $29,620 |
Source: Ownwell
Property Tax Bills Across Cresson, Pennsylvania
Property tax bills in Cresson, located in Cambria County, PA, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county's property assessor and reflects a percentage of the property's market value. Homeowners in Cresson can expect their tax bills to vary significantly, with the 25th percentile tax bill at $838 and the 75th percentile reaching $1,745. The 90th percentile tax bill can go as high as $2,809. Several factors influence the final tax bill, including property improvements, neighborhood changes, and local government budgets. The median home price in Cresson is $11,810, which is considerably lower than the national average. Despite the lower home values, property taxes can be a significant expense for homeowners. Comparing this to the national median property tax rate of 0.99%, Cresson's property tax rates can be relatively high, which impacts homeowners by increasing their annual financial obligations.
Average Cresson Tax Bill
$1,149
Average Cambria County Tax Bill
$1,315
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Cresson, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16630 | $594 | $838 | $1,149 | $1,745 | $2,809 |
Source: Ownwell