Cambridge Springs, Pennsylvania Property Taxes
The median property tax rate in Cambridge Springs, PA is 6.26%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Cambridge Springs at $24,573, the typical annual property tax bill reaches $1,590, which is below the national median of $2,690. Property taxes in Cambridge Springs 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 Cambridge Springs' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Cambridge Springs or another part of Crawford County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Cambridge Springs, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
6.26%
Estimate Property Tax Bill
$1,538
Ownwell’s Cambridge Springs Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cambridge Springs with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cambridge Springs 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 Cambridge Springs, Pennsylvania
Property taxes in Cambridge Springs, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cambridge Springs stands at 6.26%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Cambridge Springs set these rates annually, and they can vary across different neighborhoods. Each year, Cambridge Springs 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 Cambridge Springs' effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the zip code 16403 has both the highest and lowest median property tax rate at 6.26%. Understanding how these cities compare with Cambridge Springs 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 Cambridge Springs Tax Rate
6.26%
Average Crawford County Tax Rate
5.74%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cambridge Springs, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16403 | 5.84% | 5.86% | 6.26% | 6.78% | 6.79% |
Source: Ownwell
Property Tax Assessment Values Across Cambridge Springs, Pennsylvania
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Cambridge Springs, 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 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 Cambridge Springs, 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. The median home price in the area is $24,573. Property tax bills can vary significantly, with the 25th percentile at $974 and the 75th percentile at $2,446. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. This knowledge helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Cambridge Springs, Pennsylvania
Source: Ownwell
$3,151
$40,726
$78,300
Average Cambridge Springs Assessed Value
$24,573
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 Cambridge Springs, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16403 | $7,649 | $15,301 | $24,573 | $39,150 | $54,228 |
Source: Ownwell
Property Tax Bills Across Cambridge Springs, Pennsylvania
In Cambridge Springs, located in Crawford County, PA, property tax bills are determined by a combination of the assessed value of the property and the applicable tax rate. The assessed value is a percentage of the market value of the home, which is then multiplied by the local tax rate to calculate the annual tax bill. With a median home price of $24,573, homeowners in Cambridge Springs can expect varying tax bills based on their property's specific assessed value. Factors such as property size, location, and any improvements made can influence the assessed value. For instance, the 25th percentile tax bill is around $974, while the 75th percentile tax bill reaches up to $2,446. At the 90th percentile, homeowners might see tax bills as high as $3,321. These figures show a range of what homeowners might pay, reflecting the property values and tax rates in the area. Compared to the national median property tax rate of 0.99%, Cambridge Springs' tax rates and bills can provide a different financial landscape for homeowners.
Average Cambridge Springs Tax Bill
$1,590
Average Crawford County Tax Bill
$1,304
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Cambridge Springs, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16403 | $473 | $974 | $1,590 | $2,446 | $3,321 |
Source: Ownwell