Conneaut Lake, Pennsylvania Property Taxes
The median property tax rate in Conneaut Lake, PA is 5.88%, significantly higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Conneaut Lake at $33,450, the typical annual property tax bill reaches $1,929, which is below the national median of $2,690. Property taxes in Conneaut Lake 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 Conneaut Lake'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 Conneaut Lake 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
Conneaut Lake, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
5.88%
Estimate Property Tax Bill
$1,967
Ownwell’s Conneaut Lake Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Conneaut Lake with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Conneaut Lake 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 Conneaut Lake, Pennsylvania
Property taxes in Conneaut Lake, Pennsylvania, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Conneaut Lake is 5.88%, significantly higher than the U.S. national median of 0.99%. Local government entities within Conneaut Lake set these rates annually, and they can vary significantly across different neighborhoods. Each year, Conneaut Lake 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 Conneaut Lake's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 16316 zip code has both the highest and lowest median property tax rate of 5.88%. Understanding how these cities compare with Conneaut Lake 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 Conneaut Lake Tax Rate
5.88%
Average Crawford County Tax Rate
5.74%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Conneaut Lake, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16316 | 5.76% | 5.87% | 5.88% | 6.09% | 6.11% |
Source: Ownwell
Property Tax Assessment Values Across Conneaut Lake, Pennsylvania
In Conneaut Lake, 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 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 Conneaut Lake, 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 Conneaut Lake helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 16316 has both the highest and lowest median tax bill at $1,929, making it essential for homeowners to stay informed and proactive.
Property Tax Assessment Values Across Conneaut Lake, Pennsylvania
Source: Ownwell
$3,151
$40,726
$78,300
Average Conneaut Lake Assessed Value
$33,450
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 Conneaut Lake, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16316 | $12,150 | $20,306 | $33,450 | $50,824 | $73,867 |
Source: Ownwell
Property Tax Bills Across Conneaut Lake, Pennsylvania
In Conneaut Lake, located in Crawford County, PA, property tax bills are calculated based on the assessed value of a property, which is determined by local tax assessors. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $33,450, homeowners can expect varying tax bills depending on their property's assessed value and specific circumstances. Several factors influence these tax bills, including property size, location, and any applicable exemptions or deductions. The tax bill at the 25th percentile is $1,161, while at the 75th percentile, it reaches $2,991. For those at the 90th percentile, the tax bill can be as high as $4,151. The highest median tax bill in the region is $1,929, which is significantly higher than the national median property tax rate of 0.99%. These taxes directly impact homeowners by contributing to local services such as schools, infrastructure, and emergency services, thereby enhancing the community's overall quality of life.
Average Conneaut Lake Tax Bill
$1,929
Average Crawford County Tax Bill
$1,304
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Conneaut Lake, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16316 | $697 | $1,161 | $1,929 | $2,991 | $4,151 |
Source: Ownwell