Morral, Ohio Property Taxes
The median property tax rate in Morral, OH is 1.26%, which is higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With the median home value in Morral at $123,730, the typical annual property tax bill amounts to $1,510, which is below the national median of $2,690. Property taxes in Morral are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Morral'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 Morral 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
Morral, 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 Morral Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Morral with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Morral 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 Morral, Ohio
Property taxes in Morral, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Morral is 1.26%, higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Morral set these rates annually, and they can vary significantly across different neighborhoods. Each year, Morral 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 Morral's effective property tax rate to other areas in Marion County and the national median. For comparison, the zip code 43337 has both the highest and lowest median property tax rate of 1.26%. Understanding how these areas compare with Morral provides valuable insights into the varying tax landscape across Marion County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Morral Tax Rate
1.26%
Average Marion County Tax Rate
1.35%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Morral, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43337 | 0.99% | 1.14% | 1.26% | 1.31% | 1.40% |
Source: Ownwell
Property Tax Assessment Values Across Morral, Ohio
In Morral, 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 Marion 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 Morral, 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. For instance, the median home price in Morral is $123,730, with the 25th percentile tax bill at $912 and the 75th percentile tax bill at $2,204. 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 Morral helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Morral Assessed Value
$123,730
Average Marion County Assessed Value
$101,515
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Morral, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43337 | $36,877 | $65,770 | $123,730 | $184,938 | $261,702 |
Source: Ownwell
Property Tax Bills Across Morral, Ohio
In Morral, property tax bills are calculated based on the assessed value of the property, which is determined by the Marion County Assessor's Office. The assessed value is a percentage of the property's market value. Once the assessed value is established, a tax rate is applied to calculate the property tax bill. This rate can vary depending on local levies and the specific needs of the community. Several factors influence the final tax bill, including property location, improvements made, and local government budgets. For instance, in Morral, the median home price is $123,730. Homeowners in the 25th percentile can expect a tax bill around $912, while those in the 75th percentile may see bills up to $2,204. At the 90th percentile, tax bills can reach as high as $3,162. These property taxes are crucial for funding local services like schools, public safety, and infrastructure, directly impacting the quality of life for Morral residents. Understanding how these taxes are calculated helps homeowners better anticipate their financial responsibilities.
Average Morral Tax Bill
$1,510
Average Marion County Tax Bill
$1,434
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Morral, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43337 | $443 | $912 | $1,510 | $2,204 | $3,162 |
Source: Ownwell