Cocolamus, Pennsylvania Property Taxes
The median property tax rate in Cocolamus, PA is 9.75%, significantly higher than both the national median of 0.99% and Pennsylvania's state median of 2.81%. With the median home value in Cocolamus at $20,465, the typical annual property tax bill reaches $1,995, which is below the national median of $2,690. Property taxes in Cocolamus 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 Cocolamus'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 Cocolamus 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
Cocolamus, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
9.75%
Estimate Property Tax Bill
$1,995
Ownwell’s Cocolamus Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cocolamus with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cocolamus 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 Cocolamus, Pennsylvania
Property taxes in Cocolamus, Pennsylvania, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Cocolamus stands at 9.75%, significantly higher than the U.S. national median of 0.99%. Local government entities within Cocolamus set these rates annually, and they can vary notably across different neighborhoods. Each year, Cocolamus 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 Cocolamus' effective property tax rate to other areas in Juniata County and the national median. For comparison, the zip code 17014 has the highest median property tax rate of 9.75%, while the same zip code also has the lowest median tax rate of 9.75%. Understanding how these figures compare with Cocolamus provides valuable insights into the varying tax landscape across Juniata County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cocolamus Tax Rate
9.75%
Average Juniata County Tax Rate
9.79%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cocolamus, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17014 | 9.75% | 9.75% | 9.75% | 9.84% | 9.84% |
Source: Ownwell
Property Tax Assessment Values Across Cocolamus, Pennsylvania
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Cocolamus, Pennsylvania. 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 Juniata 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 Cocolamus, 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Cocolamus, the zip code with the highest and lowest median tax bill is 17014, both at $1,995.
Average Cocolamus Assessed Value
$20,465
Average Juniata County Assessed Value
$17,920
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cocolamus, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17014 | $11,640 | $14,610 | $20,465 | $27,335 | $30,614 |
Source: Ownwell
Property Tax Bills Across Cocolamus, Pennsylvania
In Cocolamus, located in Juniata County, PA, property tax bills are calculated based on the assessed value of a home, which is determined by local government assessors. The assessed value is then multiplied by the local tax rate to produce the annual tax bill. For homeowners in Cocolamus, the median home price is $20,465. Property tax bills can vary significantly, with the 25th percentile tax bill at $1,424 and the 75th percentile reaching $2,638. The 90th percentile tax bill can go up to $2,946, indicating that some homeowners pay considerably more depending on their property's assessed value and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, the property tax rates in Cocolamus can result in a relatively high tax bill for the assessed home values. This can impact homeowners by increasing their annual expenses, making it crucial for them to understand how their property is assessed and to explore potential tax appeals or exemptions to manage their tax liabilities effectively.
Average Cocolamus Tax Bill
$1,995
Average Juniata County Tax Bill
$1,779
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Cocolamus, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17014 | $1,135 | $1,424 | $1,995 | $2,638 | $2,946 |
Source: Ownwell