Cochranton, Pennsylvania Property Taxes
The median property tax rate in Cochranton, PA is 3.14%, significantly higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Cochranton at $28,801, the typical annual property tax bill reaches $981, which, while lower than the national median of $2,690, still represents a substantial portion of the home's value. Property taxes in Cochranton are calculated based on the tax assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Navigating Cochranton's property tax system, leveraging available exemptions, and finding opportunities for reductions can lead to considerable annual savings. Whether you're in the heart of Cochranton or another part of Crawford County, understanding the local property tax system is beneficial for both homeowners and real estate investors.
Last Updated June 14, 2024
Cochranton, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
3.14%
Estimate Property Tax Bill
$904
Ownwell’s Cochranton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cochranton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cochranton 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 Cochranton, Pennsylvania
Property taxes in Cochranton, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cochranton is 3.14%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Cochranton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cochranton 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 Cochranton's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 16314 zip code has the highest median property tax rate of 3.14%, while the same zip code also has the lowest median tax rate of 3.14%. Understanding how these cities compare with Cochranton provides valuable insights into the varying tax landscape across Crawford County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cochranton Tax Rate
3.14%
Average Crawford County Tax Rate
5.74%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cochranton, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16314 | 2.61% | 2.78% | 3.14% | 3.68% | 5.74% |
Source: Ownwell
Property Tax Assessment Values Across Cochranton, Pennsylvania
In Cochranton, 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 Crawford 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. Assessment notices in Cochranton 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 Cochranton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in Cochranton are both $981.00 in zip code 16314.
Average Cochranton Assessed Value
$28,801
Average Crawford County Assessed Value
$26,552
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cochranton, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16314 | $8,100 | $14,969 | $28,801 | $44,998 | $60,095 |
Source: Ownwell
Property Tax Bills Across Cochranton, Pennsylvania
In Cochranton, located in Crawford County, PA, property tax bills are calculated based on the assessed value of a home. The assessed value is determined through periodic evaluations conducted by local government assessors and reflects a percentage of the property's market value. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Several factors influence the final tax bill, including the home's location, size, and any improvements made to the property. For instance, the median home price in Cochranton is $28,801, and property tax bills can vary significantly. Homeowners in the 25th percentile can expect to pay around $496 annually, while those in the 75th percentile might see bills as high as $1,526. For the top 10% of properties, tax bills can reach up to $2,097. These property taxes fund essential community services such as public schools, emergency services, and infrastructure maintenance, directly impacting the quality of life for residents. Compared to the national median property tax rate of 0.99%, Cochranton's rates reflect local economic conditions and public service needs.
Average Cochranton Tax Bill
$981
Average Crawford County Tax Bill
$1,304
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Cochranton, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16314 | $240 | $496 | $981 | $1,526 | $2,097 |
Source: Ownwell