Frazeysburg, Ohio Property Taxes
The median property tax rate in Frazeysburg, OH is 1.34%, which is higher than both the national median of 0.99% and Ohio's state median of 1.80%. With a median home value of $89,000 in Frazeysburg, the typical annual property tax bill amounts to $1,218, surpassing the national median of $2,690. Property taxes in Frazeysburg are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as the primary residence and agricultural exemptions. Understanding Frazeysburg'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 Frazeysburg or another part of Muskingum County, understanding 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 helps any homeowner, real estate investor, or potential owner 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 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 Frazeysburg, Ohio
Property taxes in Frazeysburg, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Frazeysburg is 1.34%, which is 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 zip code 43822 has both the highest and lowest median property tax rate of 1.34%. Understanding how these cities compare with Frazeysburg provides valuable insights into the varying tax landscape across Muskingum County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Frazeysburg Tax Rate
1.34%
Average Muskingum County Tax Rate
1.33%
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 | 1.01% | 1.30% | 1.34% | 1.41% | 1.51% |
Source: Ownwell
Property Tax Assessment Values Across Frazeysburg, Ohio
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Frazeysburg, Ohio. 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 Muskingum 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. The median home price in Frazeysburg is $89,000, with tax bills ranging from $727 at the 25th percentile to $2,742 at the 90th percentile. The highest and lowest median tax bills are both found in zip code 43822, with a value of $1,218. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Frazeysburg Assessed Value
$89,000
Average Muskingum County Assessed Value
$90,600
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 | $13,750 | $46,275 | $89,000 | $138,050 | $207,800 |
Source: Ownwell
Property Tax Bills Across Frazeysburg, Ohio
In Frazeysburg, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The median home price in Frazeysburg is $89,000. To calculate the property tax, this assessed value is multiplied by the local tax rate. Factors such as property size, location, and improvements can influence the assessed value. For homeowners in Frazeysburg, the tax bill can vary significantly. The 25th percentile tax bill stands at $727, while the 75th percentile tax bill reaches $1,804, and the 90th percentile tax bill goes up to $2,742. These variations illustrate the impact of different property values and local tax rates on the overall tax burden. The highest median tax bill in the area is $1,218, which is above the national median property tax rate of 0.99%. Understanding these factors can help homeowners anticipate their annual property tax obligations and plan their finances accordingly.
Average Frazeysburg Tax Bill
$1,218
Average Muskingum County Tax Bill
$1,192
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 | $367 | $727 | $1,218 | $1,804 | $2,742 |
Source: Ownwell