Corry, Pennsylvania Property Taxes
The median property tax rate in Corry, PA is 5.21%, significantly higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Corry at $24,066, the typical annual property tax bill reaches $1,253, still below the national median of $2,690. Property taxes in Corry are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Corry'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 Corry 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
Corry, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
5.21%
Estimate Property Tax Bill
$1,254
Ownwell’s Corry Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Corry with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Corry 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 Corry, Pennsylvania
Property taxes in Corry, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Corry is 5.21%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Corry set these rates annually, and they can vary significantly across different neighborhoods. Each year, Corry 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 Corry's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 16407 zip code has both the highest and lowest median property tax rate of 5.21%. Understanding how these areas compare with Corry 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 Corry Tax Rate
5.21%
Average Crawford County Tax Rate
5.74%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Corry, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16407 | 5.20% | 5.21% | 5.21% | 5.21% | 5.21% |
Source: Ownwell
Property Tax Assessment Values Across Corry, Pennsylvania
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Corry, PA. 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. In Corry, 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 Corry helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Corry, the highest median tax bill is $1,253, found in zip code 16407. Conversely, the lowest median tax bill is also $1,253 in the same zip code. The median home price in Corry is $24,066, with tax bills ranging from the 25th percentile at $875 to the 90th percentile at $2,686.
Average Corry Assessed Value
$24,066
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 Corry, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16407 | $7,430 | $15,960 | $24,066 | $46,802 | $51,593 |
Source: Ownwell
Property Tax Bills Across Corry, Pennsylvania
In Corry, located in Crawford County, PA, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county's assessment office, which evaluates the market value of the property. Once the market value is established, the assessed value is typically a percentage of this market value. The local tax rate is then applied to the assessed value to determine the annual property tax bill. Several factors influence the property tax bill, including the property's location, size, and any improvements made to it. In Corry, the median home price is $24,066, and property tax bills can vary significantly. For instance, those in the 25th percentile pay around $875, while those in the 75th percentile pay approximately $2,438. Homeowners in the 90th percentile see tax bills as high as $2,686. These taxes fund essential services such as schools, public safety, and infrastructure, directly impacting the quality of life for residents.
Average Corry Tax Bill
$1,253
Average Crawford County Tax Bill
$1,304
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Corry, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16407 | $384 | $875 | $1,253 | $2,438 | $2,686 |
Source: Ownwell