Jerusalem, Ohio Property Taxes
The median property tax rate in Jerusalem, OH is 1.02%, slightly above the national median of 0.99% but significantly lower than Ohio's state median of 1.80%. With a median home value of $79,310, the typical annual property tax bill in Jerusalem amounts to $737, which is well below the national median of $2,690. Property taxes in Jerusalem are determined based on the assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Jerusalem'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 Jerusalem or another part of Monroe County, familiarizing yourself with the local property tax framework will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Jerusalem, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.02%
Estimate Property Tax Bill
$809
Ownwell’s Jerusalem Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Jerusalem with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Jerusalem to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in seeing trends on a neighborhood level, more localized information is available below. Your property’s assessed value is determined by the county for property tax calculations, factoring in any applicable exemptions.
Property Tax Rates Across Jerusalem, Ohio
Property taxes in Jerusalem, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Jerusalem is 1.02%, which is higher than the U.S. national median of 0.99%. Local government entities within Jerusalem set these rates annually, and they can vary significantly across different neighborhoods. Each year, Jerusalem 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 Jerusalem's effective property tax rate to other counties in Ohio and the national median. For comparison, the 43747 zip code has the highest median property tax rate of 1.02%, while the same zip code also has the lowest median tax rate of 1.02%. Understanding how these cities compare with Jerusalem provides valuable insights into the varying tax landscape across Monroe County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Jerusalem Tax Rate
1.02%
Average Monroe County Tax Rate
1.01%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Jerusalem, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43747 | 0.64% | 0.90% | 1.02% | 1.03% | 1.04% |
Source: Ownwell
Property Tax Assessment Values Across Jerusalem, Ohio
In Jerusalem, 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 Monroe 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 Jerusalem, 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 Jerusalem 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 43747 at $737, while the lowest median tax bill is also in 43747 at $737.
Average Jerusalem Assessed Value
$79,310
Average Monroe County Assessed Value
$70,885
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Jerusalem, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43747 | $5,370 | $31,550 | $79,310 | $156,550 | $247,915 |
Source: Ownwell
Property Tax Bills Across Jerusalem, Ohio
Property tax bills in Jerusalem, Monroe County, Ohio, are determined based on the assessed value of a property, which is a percentage of its market value. The median home price in Jerusalem is $79,310. The property tax rate is applied to this assessed value to calculate the annual tax bill. Factors influencing the tax bill include the property's location, size, and market conditions. For example, homeowners in the 25th percentile of tax bills pay around $305 annually, while those in the 75th percentile pay approximately $1,385. The highest median tax bill in the area is $737, which is identical across different zip codes within the county. These property taxes fund local services such as schools, infrastructure, and public safety, directly impacting the quality of life for residents. Comparing this to the national median property tax rate of 0.99%, Jerusalem's property tax bills reflect the local economic conditions and public service needs, offering a relatively affordable option for homeowners.
Average Jerusalem Tax Bill
$737
Average Monroe County Tax Bill
$677
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Jerusalem, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43747 | $61 | $305 | $737 | $1,385 | $2,171 |
Source: Ownwell