Chillicothe, Ohio Property Taxes
The median property tax rate in Chillicothe, OH is 1.31%, which is notably higher than the national median of 0.99% but lower than Ohio's state median of 1.80%. With a median home value of $100,190 in Chillicothe, the typical annual property tax bill amounts to $1,294, falling below the national median of $2,690. Property taxes in Chillicothe are calculated 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. By understanding Chillicothe's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve significant annual savings. Whether you're in the heart of Chillicothe or another part of Ross County, a thorough grasp of the local property tax system is invaluable.
Last Updated June 14, 2024
Chillicothe, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.31%
Estimate Property Tax Bill
$1,312
Ownwell’s Chillicothe Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Chillicothe with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Chillicothe 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 Chillicothe, Ohio
Property taxes in Chillicothe, Ohio, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Chillicothe is 1.31%, higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Chillicothe set these rates annually, and they can vary significantly across different neighborhoods. Each year, Chillicothe 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 Chillicothe's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45601 zip code has the highest median property tax rate of 1.31%, while the 45601 zip code also has the lowest median tax rate of 1.31%. Understanding how these cities compare with Chillicothe provides valuable insights into the varying tax landscape across Ross County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Chillicothe Tax Rate
1.31%
Average Ross County Tax Rate
1.29%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Chillicothe, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45601 | 1.05% | 1.22% | 1.31% | 1.42% | 1.45% |
Source: Ownwell
Property Tax Assessment Values Across Chillicothe, Ohio
In Chillicothe, 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 Ross 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 Chillicothe, 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. In Chillicothe, the median home price is $100,190, with tax bills ranging from $507 at the 25th percentile to $3,323 at the 90th percentile. The highest and lowest median tax bills both occur in the 45601 zip code, at $1,294. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Chillicothe Assessed Value
$100,190
Average Ross County Assessed Value
$96,810
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Chillicothe, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45601 | $9,350 | $38,100 | $100,190 | $170,810 | $259,718 |
Source: Ownwell
Property Tax Bills Across Chillicothe, Ohio
In Chillicothe, located in Ross County, OH, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is then multiplied by the local property tax rate. Factors such as the home's location, size, and market value play significant roles in determining the assessed value. For example, the median home price in Chillicothe is $100,190. Property tax bills can vary widely, with the 25th percentile at $507 and the 75th percentile at $2,199, reflecting the range of property values and tax rates within the area. The highest median tax bill recorded in the city is $1,294, which is notably higher than the national median property tax rate of 0.99%. Homeowners in Chillicothe should be aware that their tax bills can significantly impact their annual expenses, making it essential to understand how these values are calculated and to explore potential tax exemptions or appeal options if they believe their property has been over-assessed.
Average Chillicothe Tax Bill
$1,294
Average Ross County Tax Bill
$1,236
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Chillicothe, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45601 | $137 | $507 | $1,294 | $2,199 | $3,323 |
Source: Ownwell