Frazeysburg, Ohio Property Taxes
The median property tax rate in Frazeysburg, OH is 1.80%, aligning with the state median but significantly higher than the national median of 0.99%. With a median home value of $113,600 in Frazeysburg, the typical annual property tax bill amounts to $2,068, which is below the national median of $2,690. Property taxes in Frazeysburg are calculated based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Frazeysburg'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 Frazeysburg or another part of the city, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Frazeysburg, Ohio Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.8%
Estimate Property Tax Bill
$3,600
Ownwell’s Frazeysburg Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Frazeysburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Frazeysburg to provide an estimated 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 Frazeysburg, Ohio
Property taxes in Frazeysburg, Ohio, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Frazeysburg is 1.80%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Frazeysburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Frazeysburg 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 Frazeysburg's effective property tax rate to other counties in Ohio and the national median. For comparison, the 43822 zip code has the highest median property tax rate of 1.80%, while the same 43822 zip code also has the lowest median tax rate of 1.80%. Understanding how these cities compare with Frazeysburg provides valuable insights into the varying tax landscape across Licking County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Frazeysburg Tax Rate
1.80%
Average Licking County Tax Rate
2.22%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Frazeysburg, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43822 | 1.06% | 1.80% | 1.80% | 1.92% | 2.17% |
Source: Ownwell
Property Tax Assessment Values Across Frazeysburg, Ohio
In Frazeysburg, 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 Licking 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 Frazeysburg, 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 Frazeysburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 43822, with a value of $2,068.
Average Frazeysburg Assessed Value
$113,600
Average Licking County Assessed Value
$163,800
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Frazeysburg, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43822 | $10,060 | $43,275 | $113,600 | $198,150 | $311,260 |
Source: Ownwell
Property Tax Bills Across Frazeysburg, Ohio
In Frazeysburg, located in Licking County, OH, property tax bills are calculated based on the assessed value of a home. The assessed value is generally a percentage of the market value, determined by the county assessor. For instance, the median home price in Frazeysburg is $113,600. The tax rate is applied to this assessed value to determine the annual property tax bill. Several factors influence the tax bill, including property size, location, and improvements made to the property. Homeowners in Frazeysburg can expect their tax bills to vary significantly. The 25th percentile tax bill is $784, while the 75th percentile tax bill reaches $3,458. At the 90th percentile, the tax bill can be as high as $4,655. These property taxes fund local services such as schools, public safety, and infrastructure. While the national median property tax rate is 0.99%, tax rates in Frazeysburg can differ, impacting homeowners' annual expenses and overall affordability of living in the area.
Average Frazeysburg Tax Bill
$2,068
Average Licking County Tax Bill
$3,689
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Frazeysburg, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43822 | $215 | $784 | $2,068 | $3,458 | $4,655 |
Source: Ownwell