Berkey, Ohio Property Taxes
The median property tax rate in Berkey, OH is 1.61%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Berkey at $124,800, the typical annual property tax bill reaches $2,009, slightly below the national median of $2,690. Property taxes in Berkey 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 Berkey'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 Berkey 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
Berkey, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.61%
Estimate Property Tax Bill
$2,009
Ownwell’s Berkey Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Berkey with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Berkey 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 Berkey, Ohio
Property taxes in Berkey, Ohio, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Berkey is 1.61%, significantly higher than the U.S. national median of 0.99%. Local government entities within Berkey set these rates annually, and they can vary across different neighborhoods. Each year, Berkey 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 Berkey's effective property tax rate to other areas in Ohio and the national median. For comparison, the zip code 43504 has both the highest and lowest median property tax rate of 1.61%. Understanding how these cities compare with Berkey provides valuable insights into the varying tax landscape across Fulton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Berkey Tax Rate
1.61%
Average Fulton County Tax Rate
1.94%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Berkey, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43504 | 1.26% | 1.39% | 1.61% | 1.63% | 1.64% |
Source: Ownwell
Property Tax Assessment Values Across Berkey, Ohio
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Berkey, OH. The market value represents 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 Fulton 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 Berkey, 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. For instance, the zip code 43504 has the highest median tax bill of $2009. 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 Berkey helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Berkey Assessed Value
$124,800
Average Fulton County Assessed Value
$117,800
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Berkey, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43504 | $85,360 | $100,150 | $124,800 | $134,200 | $139,840 |
Source: Ownwell
Property Tax Bills Across Berkey, Ohio
In Berkey, located in Fulton County, OH, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is a percentage of the market value, which is determined by the county assessor. Once the assessed value is established, it's multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $124,800, homeowners in Berkey can expect tax bills ranging from $1,447 at the 25th percentile to $2,191 at the 75th percentile. The highest median tax bill recorded in the area is $2,009, which is still above the national median property tax rate of 0.99%. These property taxes fund essential local services such as schools, public safety, and infrastructure. For homeowners, understanding how their tax bill is calculated helps in budgeting and financial planning, ensuring they are prepared for these annual expenses.
Average Berkey Tax Bill
$2,009
Average Fulton County Tax Bill
$2,396
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Berkey, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43504 | $1,110 | $1,447 | $2,009 | $2,191 | $2,301 |
Source: Ownwell