Stratton, Ohio Property Taxes
The median property tax rate in Stratton, OH is 2.38%, significantly higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Stratton at $33,520, the typical annual property tax bill reaches $799, which is below the national median of $2,690. Property taxes in Stratton are calculated based on the tax assessed value, generally lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Stratton'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 Stratton or elsewhere in Jefferson County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Stratton, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.38%
Estimate Property Tax Bill
$798
Ownwell’s Stratton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Stratton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Stratton 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 Stratton, Ohio
Property taxes in Stratton, Ohio, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Stratton is 2.38%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Stratton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Stratton 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 Stratton's effective property tax rate to other counties in Ohio and the national median. For comparison, the zip code 43961 has the highest median property tax rate of 2.38%, while the same zip code also has the lowest median tax rate of 2.38%. Understanding how these cities compare with Stratton provides valuable insights into the varying tax landscape across Jefferson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Stratton Tax Rate
2.38%
Average Jefferson County Tax Rate
2.19%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Stratton, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43961 | 2.38% | 2.38% | 2.38% | 2.38% | 2.69% |
Source: Ownwell
Property Tax Assessment Values Across Stratton, Ohio
In Stratton, 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 Jefferson 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 Stratton, 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. For example, the highest median tax bill in Stratton is $799 in the 43961 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Stratton Assessed Value
$33,520
Average Jefferson County Assessed Value
$67,215
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Stratton, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43961 | $4,770 | $23,610 | $33,520 | $42,952 | $50,075 |
Source: Ownwell
Property Tax Bills Across Stratton, Ohio
In Stratton, the property tax bill is calculated based on the assessed value of a home, which is derived from its market value. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Stratton, the median home price is $33,520. The median property tax rate in Jefferson County is 2.38%, significantly higher than the national median of 0.99%. Factors influencing the tax bill include the assessed value of the property, any applicable exemptions, and the specific tax rates set by local jurisdictions. For example, homeowners in the 25th percentile can expect a tax bill around $564, while those in the 75th percentile may see bills as high as $1,024. In the 90th percentile, bills can reach up to $1,193. These taxes fund essential services such as schools, public safety, and infrastructure, directly impacting the community's quality of life. For homeowners, understanding these factors is crucial for financial planning and managing their annual expenses.
Average Stratton Tax Bill
$799
Average Jefferson County Tax Bill
$1,517
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Stratton, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43961 | $115 | $564 | $799 | $1,024 | $1,193 |
Source: Ownwell