Corry, Pennsylvania Property Taxes
The median property tax rate in Corry, PA is 3.17%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Corry, the typical annual property tax bill reaches $1,888, exceeding the national median of $2,690. Property taxes in Corry 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 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
3.17%
Estimate Property Tax Bill
$2,052
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 3.17%, 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 the highest median property tax rate of 3.17%, while the same zip code also has the lowest median tax rate of 3.17%. Understanding how these cities compare with Corry provides valuable insights into the varying tax landscape across Erie County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Corry Tax Rate
3.17%
Average Erie County Tax Rate
2.59%
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 | 2.16% | 2.26% | 3.17% | 3.17% | 3.17% |
Source: Ownwell
Property Tax Assessment Values Across Corry, Pennsylvania
In Corry, 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 Erie 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. The median home price in Corry is $64,725, with tax bills ranging from $1,349 at the 25th percentile to $2,491 at the 75th percentile, and up to $3,388 at the 90th percentile. The highest and lowest median tax bill in the area is $1,888, found in the zip code 16407. By understanding these valuation processes, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Corry Assessed Value
$64,725
Average Erie County Assessed Value
$98,900
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 | $18,820 | $46,108 | $64,725 | $87,895 | $121,299 |
Source: Ownwell
Property Tax Bills Across Corry, Pennsylvania
In Corry, located in Erie County, PA, property tax bills are calculated based on the assessed value of a home. The tax rate, or millage rate, is applied to this assessed value to determine the annual tax bill. For homeowners in Corry, the median home price is $64,725. The assessed value is typically a percentage of the market value, and the local tax rate is then applied to this assessed value. Several factors influence the property tax bill, including the home's assessed value, local tax rates, and any applicable exemptions or deductions. For instance, the 25th percentile of property tax bills in Corry is $1,349, while the 75th percentile reaches $2,491. The 90th percentile peaks at $3,388, indicating significant variance based on property values and specific circumstances. These property taxes directly impact homeowners, contributing to community services such as schools, infrastructure, and emergency services. Compared to the national median property tax rate of 0.99%, Corry's property taxes can be a substantial expense, particularly for higher-valued homes.
Average Corry Tax Bill
$1,888
Average Erie County Tax Bill
$2,898
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 | $588 | $1,349 | $1,888 | $2,491 | $3,388 |
Source: Ownwell