Coral, Pennsylvania Property Taxes
The median property tax rate in Coral, PA is 2.32%, considerably higher than both the national median of 0.99% and the Pennsylvania state median of 2.81%. With the median home value in Coral, the typical annual property tax bill reaches $1,174, exceeding the national median of $2,690. Property taxes in Coral 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 Coral'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 Coral 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
Coral, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.32%
Estimate Property Tax Bill
$1,163
Ownwell’s Coral Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Coral with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Coral 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 Coral, Pennsylvania
Property taxes in Coral, Pennsylvania, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Coral is 2.32%, significantly higher than the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Coral set these rates annually, and they can vary considerably across different neighborhoods. Each year, Coral 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 Coral's effective property tax rate to other areas in Pennsylvania and the national median. For comparison, the ZIP code 15731 has the highest median property tax rate of 2.32%, while ZIP code 15732 has the lowest median tax rate of 1.77%. Understanding how these areas compare with Coral provides valuable insights into the varying tax landscape across Indiana County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Coral Tax Rate
2.32%
Average Indiana County Tax Rate
2.03%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Coral, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15731 | 2.32% | 2.32% | 2.32% | 2.32% | 2.32% |
| 15732 | 1.77% | 1.77% | 1.77% | 1.77% | 1.77% |
Source: Ownwell
Property Tax Assessment Values Across Coral, Pennsylvania
In Coral, 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 Indiana 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 Coral, 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 Coral is $50,150. The zip code with the highest median tax bill is 15731 at $1,180, while the lowest is 15732 at $436. 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 Coral helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Coral Assessed Value
$50,150
Average Indiana County Assessed Value
$98,600
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Coral, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15731 | $22,780 | $39,700 | $50,200 | $63,250 | $86,080 |
| 15732 | $24,600 | $24,600 | $24,600 | $24,600 | $24,600 |
Source: Ownwell
Property Tax Bills Across Coral, Pennsylvania
In Coral, Indiana County, PA, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor's office. The assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Factors such as the home's size, location, and condition play a significant role in determining its assessed value. For homeowners in Coral, the median home price is $50,150. The tax bill can vary widely, with the 25th percentile at $939, the 75th percentile at $1,484, and the 90th percentile reaching up to $2,010. Comparatively, the highest median tax bill in the area is $1,180 in the 15731 zip code, while the lowest median tax bill is $436 in the 15732 zip code. This variation in tax bills can significantly impact homeowners' finances, making it crucial to understand how property taxes are calculated and what factors influence them. With the national median property tax rate at 0.99%, Coral's property tax rates reflect the local economic conditions and property values, emphasizing the importance of accurate assessments and fair taxation.
Average Coral Tax Bill
$1,174
Average Indiana County Tax Bill
$2,051
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Coral, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 15731 | $596 | $943 | $1,180 | $1,491 | $2,022 |
| 15732 | $436 | $436 | $436 | $436 | $436 |
Source: Ownwell