Marysville, Ohio Property Taxes
The median property tax rate in Marysville, Ohio is 1.22%, which is higher than both the national median of 0.99% and the Ohio state median of 1.80%. With a median home value of $329,300 in Marysville, the typical annual property tax bill reaches $4,015, significantly exceeding the national median of $2,690. Property taxes in Marysville are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Marysville'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 Marysville 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
Marysville, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.22%
Estimate Property Tax Bill
$4,017
Ownwell’s Marysville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Marysville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Marysville 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 Marysville, Ohio
Property taxes in Marysville, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Marysville is 1.22%, higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Marysville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Marysville 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 Marysville's effective property tax rate to other areas in Ohio and the national median. For comparison, the zip code 43040 has both the highest and lowest median property tax rate of 1.22%. Understanding how these rates compare with Marysville provides valuable insights into the varying tax landscape across Union County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Marysville Tax Rate
1.22%
Average Delaware County Tax Rate
1.78%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Marysville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43040 | 1.08% | 1.18% | 1.22% | 1.22% | 1.22% |
Source: Ownwell
Property Tax Assessment Values Across Marysville, Ohio
In Marysville, Ohio, 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 Delaware County Auditor 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 Marysville, 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 Marysville 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 $4,015 in the 43040 zip code, while the lowest is also $4,015 in the same zip code.
Average Marysville Assessed Value
$329,300
Average Delaware County Assessed Value
$406,400
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Marysville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43040 | $121,840 | $216,700 | $329,300 | $477,100 | $547,720 |
Source: Ownwell
Property Tax Bills Across Marysville, Ohio
In Marysville, located in Delaware County, OH, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the market value of the property. Various factors influence this assessment, including the property's location, size, and condition. Once the assessed value is established, the local tax rate is applied to calculate the annual property tax bill. Homeowners in Marysville experience a range of tax bills. For instance, the 25th percentile tax bill is $2,261, while the 75th percentile tax bill reaches $5,218. At the 90th percentile, homeowners might pay up to $6,663. The median home price in Marysville is $329,300, and the median property tax rate in the area is 1.22%, which is higher than the national median of 0.99%. This higher tax rate can significantly impact homeowners, making it important for them to understand how their tax bills are determined and how they can potentially reduce them through appeals or exemptions.
Average Marysville Tax Bill
$4,015
Average Delaware County Tax Bill
$7,016
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Marysville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43040 | $1,313 | $2,261 | $4,015 | $5,218 | $6,663 |
Source: Ownwell