West Jefferson, Ohio Property Taxes
The median property tax rate in West Jefferson, OH is 2.15%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in West Jefferson at $135,550, the typical annual property tax bill reaches $2,831, slightly exceeding the national median of $2,690. Property taxes in West Jefferson 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 West Jefferson'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 West Jefferson 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
West Jefferson, 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 WEST JEFFERSON Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in WEST JEFFERSON with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in WEST JEFFERSON 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 West Jefferson, Ohio
Property taxes in West Jefferson, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in West Jefferson is 2.15%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within West Jefferson set these rates annually, and they can vary significantly across different neighborhoods. Each year, West Jefferson 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 West Jefferson's effective property tax rate to other counties in Ohio and the national median. For comparison, the 43162 zip code has the highest median property tax rate of 2.15%, while the 43162 zip code also has the lowest median tax rate of 2.15%. Understanding how these cities compare with West Jefferson provides valuable insights into the varying tax landscape across Madison County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average West Jefferson Tax Rate
2.15%
Average Madison County Tax Rate
1.59%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across West Jefferson, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43162 | 1.66% | 1.91% | 2.15% | 2.18% | 2.23% |
Source: Ownwell
Property Tax Assessment Values Across West Jefferson, Ohio
In West Jefferson, 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 Madison 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 West Jefferson, 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 West Jefferson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $2,831, found in the 43162 zip code, while the lowest is also $2,831 in the same zip code.
Average West Jefferson Assessed Value
$135,550
Average Madison County Assessed Value
$142,200
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across West Jefferson, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43162 | $34,214 | $93,670 | $135,550 | $181,840 | $278,272 |
Source: Ownwell
Property Tax Bills Across West Jefferson, Ohio
In West Jefferson, OH, property tax bills are calculated based on the assessed value of a property, which is determined by the Madison County Auditor. This assessed value is a percentage of the property's market value. For example, if the median home price in West Jefferson is $135,550, the assessed value would be a fraction of this amount, depending on local assessment ratios. The property tax rate is then applied to the assessed value to determine the tax bill. In West Jefferson, the tax bills can vary significantly, with the 25th percentile tax bill at $1,929 and the 75th percentile reaching $3,759. At the 90th percentile, homeowners might pay as much as $5,578 annually. These taxes fund essential public services like schools, emergency services, and infrastructure maintenance, directly impacting the quality of life in the community. Compared to the national median property tax rate of 0.99%, West Jefferson's property tax rates can be relatively high, making it crucial for homeowners to understand their tax liabilities and potential exemptions.
Average West Jefferson Tax Bill
$2,831
Average Madison County Tax Bill
$2,428
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across West Jefferson, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43162 | $828 | $1,929 | $2,831 | $3,759 | $5,578 |
Source: Ownwell