Shelby, Ohio Property Taxes
The median property tax rate in Shelby, OH is 1.50%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Shelby, the typical annual property tax bill reaches $1,364, exceeding the national median of $2,690. Property taxes in Shelby 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 Shelby'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 Shelby 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
Shelby, 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 Shelby Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Shelby with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Shelby 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 Shelby, Ohio
Property taxes in Shelby, Ohio, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Shelby is 1.50%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Shelby set these rates annually, and they can vary significantly across different neighborhoods. Each year, Shelby 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. Understanding how Shelby's property tax rate compares to other areas within Richland County and the national average provides valuable insights into the varying tax landscape, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Shelby Tax Rate
1.50%
Average Richland County Tax Rate
1.92%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Shelby, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44875 | 1.04% | 1.44% | 1.50% | 1.53% | 1.57% |
Source: Ownwell
Property Tax Assessment Values Across Shelby, Ohio
In Shelby, 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 Richland 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. 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 Shelby helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Shelby are both $1,364 in the 44875 zip code, reflecting the region's consistent property tax landscape.
Average Shelby Assessed Value
$94,950
Average Richland County Assessed Value
$93,590
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Shelby, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44875 | $36,980 | $65,960 | $94,950 | $132,800 | $188,782 |
Source: Ownwell
Property Tax Bills Across Shelby, Ohio
In Shelby, Ohio, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is typically a percentage of the market value, reflecting the property's worth in the current real estate market. Various factors influence this assessment, including the property's size, location, and any improvements or renovations. Once the assessed value is established, local tax rates, set by county and municipal authorities, are applied to calculate the annual tax bill. In Shelby, the tax bill can vary significantly, with the 25th percentile tax bill at $942 and the 75th percentile reaching $1,946. The highest median tax bill in the area is $1,364, aligning with the national median property tax rate of 0.99%. Homeowners in Shelby should be aware that these taxes fund essential public services like schools, infrastructure, and emergency services. Understanding how these factors affect their tax bill can help homeowners manage their finances better and anticipate yearly expenses.
Average Shelby Tax Bill
$1,364
Average Richland County Tax Bill
$1,633
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Shelby, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44875 | $522 | $942 | $1,364 | $1,946 | $2,727 |
Source: Ownwell