Cogan Station, Pennsylvania Property Taxes
The median property tax rate in Cogan Station, PA is 2.50%, significantly higher than the national median of 0.99% but lower than the Pennsylvania state median of 2.81%. With a median home value of $107,250 in Cogan Station, the typical annual property tax bill amounts to $2,658, which is just below the national median of $2,690. Property taxes here are calculated based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Cogan Station's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Cogan Station or another part of Lycoming County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Cogan Station, Pennsylvania Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.5%
Estimate Property Tax Bill
$2,681
Ownwell’s Cogan Station Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cogan Station with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cogan Station 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 Cogan Station, Pennsylvania
Property taxes in Cogan Station, Pennsylvania, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Cogan Station is 2.50%, significantly higher than both the Pennsylvania state median and the U.S. national median of 0.99%. Local government entities within Cogan Station set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cogan Station 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 Cogan Station's effective property tax rate to other areas in Pennsylvania and the national median. For comparison, the zip code 17728 has the highest median property tax rate of 2.50%, while the same zip code also has the lowest median tax rate of 2.50%. Understanding how these areas compare with Cogan Station provides valuable insights into the varying tax landscape across Lycoming County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cogan Station Tax Rate
2.50%
Average Lycoming County Tax Rate
2.61%
Average Pennsylvania Tax Rate
2.81%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cogan Station, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17728 | 2.34% | 2.42% | 2.50% | 2.50% | 2.50% |
Source: Ownwell
Property Tax Assessment Values Across Cogan Station, Pennsylvania
In Cogan Station, 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 Lycoming 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 Cogan Station, 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 Cogan Station helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $2,658 in zip code 17728, which is also the lowest.
Property Tax Assessment Values Across Cogan Station, Pennsylvania
Source: Ownwell
$10,885
$65,940
$120,995
Average Cogan Station Assessed Value
$107,250
Average Lycoming County Assessed Value
$87,660
Average Pennsylvania Assessed Value
$114,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cogan Station, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17728 | $21,666 | $69,780 | $107,250 | $147,470 | $187,350 |
Source: Ownwell
Property Tax Bills Across Cogan Station, Pennsylvania
In Cogan Station, PA, property tax bills are calculated based on the assessed value of a home and the local tax rate set by Lycoming County. The assessed value is determined by the county assessor and is supposed to reflect the market value of the property. Homeowners in Cogan Station can expect a median home price of $107,250. The tax rate in Lycoming County influences the final tax bill, which can vary significantly. For instance, the 25th percentile tax bill is $1,732, while the 75th percentile tax bill reaches $3,617. At the higher end, the 90th percentile tax bill can be as much as $4,573. These figures show a considerable range, indicating that factors such as property size, improvements, and neighborhood can significantly impact the tax amount. Compared to the national median property tax rate of 0.99%, homeowners in Cogan Station may find their tax bills to be relatively high or low depending on their property's assessed value and the specific tax rate applied. This variability underscores the importance of understanding local property tax assessments and rates.
Average Cogan Station Tax Bill
$2,658
Average Lycoming County Tax Bill
$2,556
Average Pennsylvania Tax Bill
$3,063
Average United States Tax Bill
$2,690
Property Tax Bills Across Cogan Station, Pennsylvania
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 17728 | $541 | $1,732 | $2,658 | $3,617 | $4,573 |
Source: Ownwell