Carey, Ohio Property Taxes
The median property tax rate in Carey, Ohio is 1.32%, which is higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Carey, the typical annual property tax bill reaches $1,706, which is below the national median of $2,690. Property taxes in Carey 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 Carey'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 Carey 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
Carey, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.32%
Estimate Property Tax Bill
$1,744
Ownwell’s Carey Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Carey with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Carey 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 Carey, Ohio
Property taxes in Carey, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Carey is 1.32%, which is notably higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Carey set these rates annually, and they can vary significantly across different neighborhoods. Each year, Carey 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 Carey's effective property tax rate to other counties in Ohio and the national median. For comparison, the 43316 zip code has the highest median property tax rate of 1.32%, while the same zip code also has the lowest median tax rate of 1.32%. Understanding how these areas compare with Carey provides valuable insights into the varying tax landscape across Seneca County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Carey Tax Rate
1.32%
Average Seneca County Tax Rate
1.43%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Carey, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43316 | 0.63% | 0.96% | 1.32% | 1.36% | 1.39% |
Source: Ownwell
Property Tax Assessment Values Across Carey, Ohio
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Carey, 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 Seneca 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 Carey, 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. For instance, the median home price in Carey is $132,150, with tax bills ranging from $1,170 at the 25th percentile to $3,265 at the 90th percentile. The zip code 43316 has both the highest and lowest median tax bill at $1,706. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Carey Assessed Value
$132,150
Average Seneca County Assessed Value
$95,080
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Carey, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43316 | $66,616 | $90,890 | $132,150 | $237,640 | $510,348 |
Source: Ownwell
Property Tax Bills Across Carey, Ohio
In Carey, located in Seneca County, OH, property tax bills are calculated based on the assessed value of the property, which is a percentage of its market value. Homeowners in Carey can expect their tax bills to be influenced by several factors, including the local tax rate and the assessed value of their property. The median home price in Carey is $132,150, and the median property tax bill is around $1,706. The tax bill can vary significantly, with the 25th percentile tax bill at $1,170 and the 75th percentile reaching up to $2,392. For those at the 90th percentile, the tax bill can be as high as $3,265. Compared to the national median property tax rate of 0.99%, Carey's property taxes are relatively moderate, providing a balanced approach for homeowners. These taxes contribute to local services such as schools, infrastructure, and public safety, directly impacting the quality of life in the community.
Average Carey Tax Bill
$1,706
Average Seneca County Tax Bill
$1,391
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Carey, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43316 | $807 | $1,170 | $1,706 | $2,392 | $3,265 |
Source: Ownwell