Dennison, Ohio Property Taxes
The median property tax rate in Dennison, OH is 1.17%, which is higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With a median home value of $124,170, the typical annual property tax bill in Dennison amounts to $1,380, which is below the national median of $2,690. Property taxes in Dennison are based on the assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. By understanding Dennison's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners can achieve significant annual savings. Whether residing in the heart of Dennison or its surrounding areas, comprehending the local property tax system is advantageous for both homeowners and real estate investors.
Last Updated June 14, 2024
Dennison, 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 Dennison Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dennison with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dennison 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 Dennison, Ohio
Property taxes in Dennison, Ohio, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dennison is 1.35%, significantly higher than both the Ohio state median of 1.36% and the U.S. national median of 0.99%. Local government entities within Dennison set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dennison 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 Dennison's effective property tax rate to other counties in Ohio and the national median. For comparison, the 44621 zip code has the highest median property tax rate of 1.35%, while the same zip code also has the lowest median tax rate of 1.35%. Understanding how these cities compare with Dennison provides valuable insights into the varying tax landscape across Carroll County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dennison Tax Rate
1.17%
Average Carroll County Tax Rate
1.41%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dennison, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44621 | 0.55% | 1.12% | 1.17% | 1.42% | 2.13% |
Source: Ownwell
Property Tax Assessment Values Across Dennison, Ohio
In Dennison, 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 Carroll 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 Dennison, 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 Dennison helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Dennison, the zip code with the highest median tax bill is 44621, with a median tax bill of $1,380.
Average Dennison Assessed Value
$124,170
Average Carroll County Assessed Value
$85,895
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dennison, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44621 | $11,876 | $34,100 | $124,170 | $172,605 | $287,320 |
Source: Ownwell
Property Tax Bills Across Dennison, Ohio
In Dennison, located in Carroll County, OH, property tax bills are calculated based on the assessed value of a homeowner's property. The assessed value is determined by the local tax assessor and represents a percentage of the property's market value. Various factors influence this assessed value, including the property's location, size, and condition. Once the assessed value is determined, the local tax rate is applied to calculate the annual property tax bill. For homeowners in Dennison, the median property tax bill is $1,380, which is higher than the national median property tax rate of 0.99%. Homeowners in the lower 25th percentile can expect to pay around $469, while those in the 75th and 90th percentiles may pay approximately $1,851 and $2,031, respectively. These property taxes contribute significantly to local public services such as schools, infrastructure, and emergency services, directly impacting the quality of life for Dennison residents. High property taxes can be a financial burden, but they also reflect the community's investment in maintaining and improving local amenities.
Average Dennison Tax Bill
$1,380
Average Carroll County Tax Bill
$1,225
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Dennison, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44621 | $216 | $469 | $1,380 | $1,851 | $2,031 |
Source: Ownwell