Elco, Pennsylvania Property Taxes
The median property tax rate in ELCO, PA is 5.37%, significantly higher than both the national median of 0.99% and Pennsylvania's state median of 2.81%. With the median home value in ELCO at $31,501, the typical annual property tax bill reaches $1,690, which is below the national median of $2,690. Property taxes in ELCO 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 ELCO'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 ELCO 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
Elco, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
5.37%
Estimate Property Tax Bill
$1,692
Ownwell’s ELCO Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in ELCO with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in ELCO to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available by scrolling down. Your property’s assessed value is the value assigned by Crawford County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Elco, Pennsylvania
Property taxes in ELCO, Pennsylvania, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in ELCO is 5.37%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within ELCO set these rates annually, and they can vary significantly across different neighborhoods. Each year, ELCO 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 ELCO's effective property tax rate to other counties in Pennsylvania and the national median. For comparison, the 15434 zip code has the highest median property tax rate of 5.37%, while the same zip code also represents the lowest median tax rate of 5.37%. Understanding how these values compare with ELCO 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 Elco Tax Rate
5.37%
Average Crawford County Tax Rate
5.74%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Elco, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15434 | 5.37% | 5.37% | 5.37% | 5.37% | 5.37% |
Source: Ownwell
Property Tax Assessment Values Across Elco, Pennsylvania
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in ELCO, 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. 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 ELCO helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area, both at $1,690, are found in the 15434 zip code.
Average Elco Assessed Value
$31,501
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 Elco, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15434 | $31,501 | $31,501 | $31,501 | $31,501 | $31,501 |
Source: Ownwell
Property Tax Bills Across Elco, Pennsylvania
In ELCO, part of Crawford County, PA, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by local government assessors and is a percentage of the property's market value. Once the assessed value is established, the local tax rate is applied to calculate the annual property tax bill. For homeowners in ELCO, the median home price stands at $31,501. The median property tax bill is $1,690, which is significantly higher than the national median property tax rate of 0.99%. This high tax rate can be attributed to local funding needs for public services such as schools, infrastructure, and emergency services. Understanding how these factors interplay is crucial for homeowners. A higher assessed value or an increase in the local tax rate can lead to a higher tax bill, impacting a homeowner's annual expenses. Conversely, any decrease in the assessed value or tax rate can provide some financial relief.
Average Elco Tax Bill
$1,690
Average Crawford County Tax Bill
$1,304
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Elco, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15434 | $1,690 | $1,690 | $1,690 | $1,690 | $1,690 |
Source: Ownwell