Harborcreek, Pennsylvania Property Taxes
The median property tax rate in Harborcreek, PA is 2.56%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Harborcreek at $122,845, the typical annual property tax bill reaches $3,129, exceeding the national median of $2,690. Property taxes in Harborcreek 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 Harborcreek'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 Harborcreek 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
Harborcreek, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.56%
Estimate Property Tax Bill
$3,145
Ownwell’s Harborcreek Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Harborcreek with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Harborcreek 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 Harborcreek, Pennsylvania
Property taxes in Harborcreek, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Harborcreek is 2.56%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Harborcreek set these rates annually, and they can vary across different neighborhoods. Each year, Harborcreek 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 Harborcreek's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 16421 zip code has both the highest and lowest median property tax rate of 2.56%. Understanding how these areas compare with Harborcreek 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 Harborcreek Tax Rate
2.56%
Average Erie County Tax Rate
2.59%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Harborcreek, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16421 | 2.56% | 2.56% | 2.56% | 2.56% | 2.56% |
Source: Ownwell
Property Tax Assessment Values Across Harborcreek, Pennsylvania
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Harborcreek, 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 Erie County 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 Harborcreek, 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. The median home price in Harborcreek is $122,845, with tax bills ranging from $2,437 at the 25th percentile to $5,101 at the 90th percentile. The zip code 16421 has the highest and lowest median tax bill at $3,129. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Harborcreek, Pennsylvania
Source: Ownwell
$33,860
$103,725
$173,590
Average Harborcreek Assessed Value
$122,845
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 Harborcreek, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16421 | $76,190 | $95,402 | $122,845 | $158,765 | $204,301 |
Source: Ownwell
Property Tax Bills Across Harborcreek, Pennsylvania
In Harborcreek, property tax bills are calculated based on the assessed value of your home, which is determined by local assessors. This assessed value is then multiplied by the local tax rate to determine your annual tax bill. For example, with a median home price of $122,845 in Erie County, homeowners can expect varying tax bills depending on their specific property assessments and applicable exemptions. Several factors influence the tax bill, including the property's location, size, and condition. The tax bill at the 25th percentile is approximately $2,437, while at the 75th percentile, it rises to about $4,042. Homeowners in the 90th percentile can expect to pay around $5,101 annually. These figures highlight the range of property tax burdens within Harborcreek, influenced by individual property values and local tax rates. Compared to the national median property tax rate of 0.99%, Harborcreek's tax rates can significantly impact homeowners, potentially making property taxes a considerable part of their annual expenses.
Average Harborcreek Tax Bill
$3,129
Average Erie County Tax Bill
$2,898
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Harborcreek, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16421 | $1,948 | $2,437 | $3,129 | $4,042 | $5,101 |
Source: Ownwell