Cranesville, Pennsylvania Property Taxes
The median property tax rate in Cranesville, PA is 2.07%, significantly higher than the national median of 0.99% but lower than Pennsylvania's state median of 2.81%. With a median home value of $86,000 in Cranesville, the typical annual property tax bill is $1,762, which is below the national median of $2,690. Property taxes in Cranesville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Cranesville's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to notable annual savings. Whether you're in the heart of Cranesville or another part of Erie County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Cranesville, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.07%
Estimate Property Tax Bill
$1,780
Ownwell’s Cranesville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cranesville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cranesville 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 Cranesville, Pennsylvania
Property taxes in Cranesville, Pennsylvania, are essential in funding vital local services such as public schools, road maintenance, and emergency services. The median tax rate in Cranesville is 2.07%, significantly higher than the U.S. national median of 0.99%. Local government entities within Cranesville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cranesville 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 Cranesville's effective property tax rate to other areas and the national median. For comparison, the zip code 16410 has the highest median property tax rate of 2.07%, while the same zip code also has the lowest median tax rate of 2.07%. Understanding how these figures compare with Cranesville 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 Cranesville Tax Rate
2.07%
Average Erie County Tax Rate
2.59%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cranesville, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16410 | 1.82% | 2.07% | 2.07% | 2.08% | 2.08% |
Source: Ownwell
Property Tax Assessment Values Across Cranesville, Pennsylvania
In Cranesville, 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 Cranesville, 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 Cranesville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 16410, at $1,762, while the lowest median tax bill is also in 16410, at $1,762.
Property Tax Assessment Values Across Cranesville, Pennsylvania
Source: Ownwell
$33,860
$103,725
$173,590
Average Cranesville Assessed Value
$86,000
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 Cranesville, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16410 | $35,090 | $66,835 | $86,000 | $116,590 | $150,920 |
Source: Ownwell
Property Tax Bills Across Cranesville, Pennsylvania
In Cranesville, PA, property tax bills are calculated based on the assessed value of a homeowner's property. The assessed value is determined by the local assessor and reflects a percentage of the property's market value. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, in Erie County, the median home price is $86,000. Homeowners in Cranesville can expect tax bills that vary significantly based on their property's assessed value and location within the city. Factors such as property size, location, and improvements can influence the assessed value, ultimately affecting the tax bill. For example, the 25th percentile tax bill in Cranesville is $1,378, while the 75th percentile tax bill is $2,360, and the 90th percentile tax bill reaches $3,170. These variations highlight the impact of different property values and assessments on the tax obligations of homeowners. Comparatively, the national median property tax rate is 0.99%, making it essential for Cranesville homeowners to understand how local assessments and rates influence their financial responsibilities.
Average Cranesville Tax Bill
$1,762
Average Erie County Tax Bill
$2,898
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Cranesville, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16410 | $739 | $1,378 | $1,762 | $2,360 | $3,170 |
Source: Ownwell