Metamora, Ohio Property Taxes
The median property tax rate in Metamora, OH is 1.62%, which is significantly higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With a median home value of $118,600 in Metamora, the typical annual property tax bill amounts to $1,870, which is below the national median of $2,690. Property taxes in Metamora are calculated based on the assessed value, which is often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Metamora'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 Metamora 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
Metamora, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.62%
Estimate Property Tax Bill
$1,921
Ownwell’s Metamora Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Metamora with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Metamora 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 Metamora, Ohio
Property taxes in Metamora, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Metamora is 1.62%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Metamora set these rates annually, and they can vary significantly across different neighborhoods. Each year, Metamora 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 Metamora's effective property tax rate to other counties in Ohio and the national median. For comparison, the 43540 zip code has both the highest and lowest median property tax rate of 1.62%. Understanding how these areas compare with Metamora 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 Metamora Tax Rate
1.62%
Average Fulton County Tax Rate
1.94%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Metamora, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43540 | 1.43% | 1.60% | 1.62% | 1.64% | 1.66% |
Source: Ownwell
Property Tax Assessment Values Across Metamora, Ohio
In Metamora, 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 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 Metamora, 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 Metamora helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bill in the area is $1,870, found in the 43540 zip code.
Average Metamora Assessed Value
$118,600
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 Metamora, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43540 | $56,000 | $84,225 | $118,600 | $187,725 | $260,300 |
Source: Ownwell
Property Tax Bills Across Metamora, Ohio
In Metamora, OH, property tax bills are calculated based on the assessed value of a home, which is determined by the Fulton County Assessor's Office. The assessed value is a percentage of the market value of the property. Once the assessed value is established, the local tax rate is applied to calculate the tax bill. Several factors influence the assessed value, including the property's location, size, and condition. For instance, homes in the 43540 zip code see a median tax bill of $1,870, reflecting the area's property values and tax rates. Homeowners in Metamora can expect tax bills ranging from $1,332 at the 25th percentile to $4,371 at the 90th percentile, depending on their property's assessed value. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the quality of life in Metamora. While the national median property tax rate is 0.99%, local rates and assessed values can significantly affect individual tax bills, making it crucial for homeowners to understand how their taxes are calculated.
Average Metamora Tax Bill
$1,870
Average Fulton County Tax Bill
$2,396
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Metamora, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43540 | $864 | $1,332 | $1,870 | $3,009 | $4,371 |
Source: Ownwell