Gambier, Ohio Property Taxes
The median property tax rate in Gambier, OH is 1.87%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Gambier, the typical annual property tax bill reaches $3,329, exceeding the national median of $2,690. Property taxes in Gambier 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 Gambier'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 Gambier 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
Gambier, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.87%
Estimate Property Tax Bill
$3,506
Ownwell’s Gambier Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gambier with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gambier 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 Gambier, Ohio
Property taxes in Gambier, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gambier is 1.87%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Gambier set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gambier 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 Gambier's effective property tax rate to other counties in Ohio and the national median. For comparison, the 43022 zip code has the highest median property tax rate of 1.87%, while the same zip code also has the lowest median tax rate of 1.87%. Understanding how these cities compare with Gambier provides valuable insights into the varying tax landscape across Knox County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gambier Tax Rate
1.87%
Average Knox County Tax Rate
1.84%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gambier, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43022 | 1.25% | 1.69% | 1.87% | 2.00% | 2.05% |
Source: Ownwell
Property Tax Assessment Values Across Gambier, Ohio
In Gambier, 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 Knox 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 Gambier, 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. The median home price in Gambier is $187,500, with tax bills ranging from $2,224 at the 25th percentile to $5,872 at the 90th percentile. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Gambier Assessed Value
$187,500
Average Knox County Assessed Value
$133,520
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gambier, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43022 | $85,149 | $124,922 | $187,500 | $264,938 | $373,206 |
Source: Ownwell
Property Tax Bills Across Gambier, Ohio
In Gambier, located in Knox County, OH, property tax bills are calculated based on the assessed value of the home. The assessed value is a percentage of the market value, determined by the county assessor. For example, if the median home price is $187,500, the assessed value will be a fraction of this amount. The tax rate is then applied to the assessed value to determine the annual property tax bill. Several factors influence the property tax bill, including the home's market value, local tax rates, and any applicable exemptions or deductions. Homeowners in Gambier can expect their tax bills to vary significantly. For instance, the tax bill at the 25th percentile is $2,224, while at the 75th percentile, it reaches $4,671. At the 90th percentile, it can go up to $5,872. Compared to the national median property tax rate of 0.99%, Gambier's property taxes can be higher, significantly impacting homeowners' annual expenses. Understanding these factors helps homeowners budget effectively and anticipate their financial obligations.
Average Gambier Tax Bill
$3,329
Average Knox County Tax Bill
$2,431
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Gambier, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43022 | $1,539 | $2,224 | $3,329 | $4,671 | $5,872 |
Source: Ownwell