Jeromesville, Ohio Property Taxes
The median property tax rate in Jeromesville, OH is 1.53%, which is notably higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With the median home value in Jeromesville at $122,010, the typical annual property tax bill amounts to $1,760, falling short of the national median of $2,690. Property taxes in Jeromesville are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. By understanding Jeromesville's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners can achieve significant annual savings. Whether you're in the heart of Jeromesville or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Jeromesville, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.53%
Estimate Property Tax Bill
$1,867
Ownwell’s Jeromesville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Jeromesville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Jeromesville 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 Jeromesville, Ohio
Property taxes in Jeromesville, Ohio, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Jeromesville is 1.53%, significantly higher than both the Ohio state median of 1.36% and the U.S. national median of 0.99%. Local government entities within Jeromesville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Jeromesville 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 Jeromesville's effective property tax rate to other counties in Ohio and the national median. For comparison, the 44840 zip code has the highest median property tax rate of 1.53%, while the same zip code also has the lowest median tax rate of 1.53%. Understanding how these areas compare with Jeromesville provides valuable insights into the varying tax landscape across Ashland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Jeromesville Tax Rate
1.53%
Average Ashland County Tax Rate
1.52%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Jeromesville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44840 | 1.19% | 1.43% | 1.53% | 1.57% | 1.62% |
Source: Ownwell
Property Tax Assessment Values Across Jeromesville, Ohio
In Jeromesville, 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 Ashland 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 Jeromesville, 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 Jeromesville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 44840 has the highest and lowest median tax bill of $1,760.
Average Jeromesville Assessed Value
$122,010
Average Ashland County Assessed Value
$108,690
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Jeromesville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44840 | $42,215 | $85,998 | $122,010 | $166,660 | $211,460 |
Source: Ownwell
Property Tax Bills Across Jeromesville, Ohio
In Jeromesville, located in Ashland County, OH, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the property's market value. For instance, if the median home price is $122,010, the assessed value is calculated based on this figure. Property tax rates are then applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including local tax rates, property exemptions, and any applicable deductions. Homeowners in Jeromesville can expect tax bills that vary significantly; for example, the 25th percentile tax bill is around $1,226, while the 75th percentile reaches approximately $2,465. The highest median tax bill recorded in the area is $1,760, which is notably higher than the national median property tax rate of 0.99%. These property taxes impact homeowners by contributing to essential community services such as schools, public safety, and infrastructure. Understanding how these taxes are calculated can help homeowners better manage their financial planning and obligations.
Average Jeromesville Tax Bill
$1,760
Average Ashland County Tax Bill
$1,522
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Jeromesville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44840 | $554 | $1,226 | $1,760 | $2,465 | $3,066 |
Source: Ownwell