Murray City, Ohio Property Taxes
The median property tax rate in Murray City, Ohio is 1.56%, which is significantly higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With a median home value of $34,610 in Murray City, the typical annual property tax bill is $563, which is considerably below the national median of $2,690. Property taxes in Murray City are calculated based on the assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding the property tax system in Murray City, exploring available exemptions, and identifying opportunities for reductions can lead to considerable annual savings. Whether you're residing in Murray City or considering investment opportunities, a thorough understanding of the local property tax system is essential for maximizing financial benefits.
Last Updated June 14, 2024
Murray City, 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 Murray City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Murray City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Murray City 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 Murray City, Ohio
Property taxes in Murray City, Ohio, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Murray City is 1.56%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Murray City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Murray City 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 Murray City's effective property tax rate to other areas in Ohio and the national median. For comparison, the zip code 43144 has the same median property tax rate of 1.56%, highlighting the uniformity within the region. Understanding how these areas compare with Murray City provides valuable insights into the varying tax landscape across Athens County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Murray City Tax Rate
1.56%
Average Athens County Tax Rate
1.77%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Murray City, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43144 | 1.55% | 1.56% | 1.56% | 1.59% | 1.61% |
Source: Ownwell
Property Tax Assessment Values Across Murray City, Ohio
In Murray City, 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 Athens 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 Murray City, 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 Murray City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 43144 has the highest median tax bill at $563.
Average Murray City Assessed Value
$34,610
Average Athens County Assessed Value
$88,765
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Murray City, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43144 | $31,290 | $32,535 | $34,610 | $41,315 | $45,338 |
Source: Ownwell
Property Tax Bills Across Murray City, Ohio
In Murray City, located in Athens County, OH, property tax bills are calculated based on the assessed value of the property, which is determined by local tax assessors. The assessed value is a percentage of the market value of the home. For example, with a median home price of $34,610, the assessed value would be a fraction of this amount, depending on local assessment ratios. Once the assessed value is established, the local tax rate is applied to calculate the property tax bill. In Murray City, the property tax rate is compared to the national median of 0.99%. Homeowners in this area can expect tax bills to fall within a range, with the 25th percentile at $518 and the 75th percentile at $656. The 90th percentile tax bill is $712, indicating the upper range homeowners might pay. These property taxes fund essential community services such as schools, infrastructure, and emergency services, directly impacting the quality of life. Understanding these factors helps homeowners anticipate their annual financial obligations and plan accordingly.
Average Murray City Tax Bill
$563
Average Athens County Tax Bill
$1,453
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Murray City, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43144 | $490 | $518 | $563 | $656 | $712 |
Source: Ownwell