Thurston, Ohio Property Taxes
The median property tax rate in Thurston, Ohio is 1.28%, higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Thurston at $124,285, the typical annual property tax bill reaches $1,548, which is below the national median of $2,690. Property taxes in Thurston 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 Thurston'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 Thurston 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
Thurston, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.28%
Estimate Property Tax Bill
$1,591
Ownwell’s Thurston Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Thurston with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Thurston 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 Thurston, Ohio
Property taxes in Thurston, Ohio, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Thurston is 1.28%, significantly higher than both the Ohio state median of 1.52% and the U.S. national median of 0.99%. Local government entities within Thurston set these rates annually, and they can vary significantly across different neighborhoods. Each year, Thurston 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 Thurston's effective property tax rate to other counties in Ohio and the national median. For comparison, the zip code 43157 has the highest median property tax rate of 1.28%, while the same zip code 43157 also has the lowest median tax rate of 1.28%. Understanding how these cities compare with Thurston provides valuable insights into the varying tax landscape across Fairfield County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Thurston Tax Rate
1.28%
Average Fairfield County Tax Rate
1.37%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Thurston, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43157 | 1.11% | 1.28% | 1.28% | 1.31% | 1.31% |
Source: Ownwell
Property Tax Assessment Values Across Thurston, Ohio
In Thurston, 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 Fairfield County Appraisal District 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 Thurston, 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. The median home price in Thurston is $124,285, with the 25th percentile tax bill at $1,234 and the 75th percentile tax bill at $1,970. The highest median tax bill is $1,548 in the 43157 zip code, which is also the lowest median tax bill. Being aware of these valuation processes in Thurston helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Thurston Assessed Value
$124,285
Average Fairfield County Assessed Value
$224,580
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Thurston, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43157 | $33,873 | $96,625 | $124,285 | $155,702 | $197,011 |
Source: Ownwell
Property Tax Bills Across Thurston, Ohio
Property tax bills in Thurston, located in Fairfield County, OH, are determined based on the assessed value of a property, which is a percentage of its market value. The local tax rate, applied to this assessed value, dictates the final tax bill. In Thurston, the median home price is $124,285. Homeowners typically see a range of tax bills depending on their property's assessed value and specific tax rate. For instance, the 25th percentile tax bill is $1,234, while the 75th percentile reaches $1,970, and the 90th percentile can go up to $2,533. These figures illustrate the variability in tax burdens among homeowners. The highest and lowest median tax bills in the area are both $1,548, indicating a consistent tax rate within this zip code. Compared to the national median property tax rate of 0.99%, Thurston's tax rates reflect the local economic conditions and government funding needs. Understanding these factors helps homeowners anticipate their annual property tax obligations and budget accordingly.
Average Thurston Tax Bill
$1,548
Average Fairfield County Tax Bill
$2,962
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Thurston, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43157 | $401 | $1,234 | $1,548 | $1,970 | $2,533 |
Source: Ownwell