Cable, Ohio Property Taxes
The median property tax rate in Cable, OH is 1.35%, which is higher than the national median of 0.99% but lower than Ohio's state median of 1.80%. With a median home value of $174,945 in Cable, the typical annual property tax bill amounts to $2,377, which is below the national median of $2,690. Property taxes in Cable are calculated based on the tax assessed value, which is often lower than the market value due to several exemptions such as primary residence and agricultural exemptions. Gaining a thorough understanding of Cable's property tax system and exploring available exemptions can lead to substantial annual savings. Whether you're located in the heart of Cable or its surrounding areas, mastering the local property tax system can greatly benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Cable, 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 Cable Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, or potential buyers to estimate their annual property taxes in Cable with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cable to provide an estimate of 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 Champaign County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Cable, Ohio
Property taxes in Cable, Ohio, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Cable is 1.35%, higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Cable set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cable 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 Cable's effective property tax rate to other counties in Ohio and the national median. For comparison, the zip code 43009 has both the highest and lowest median property tax rate of 1.35%. Understanding how these cities compare with Cable provides valuable insights into the varying tax landscape across Champaign County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cable Tax Rate
1.35%
Average Champaign County Tax Rate
1.33%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cable, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43009 | 0.68% | 1.16% | 1.35% | 1.39% | 1.43% |
Source: Ownwell
Property Tax Assessment Values Across Cable, Ohio
In Cable, 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 Champaign 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 Cable, 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. For example, the median home price in Cable is $174,945, with tax bills ranging from $1,475 at the 25th percentile to $5,016 at the 90th percentile. The highest and lowest median tax bills are both $2,377, found in the 43009 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Cable Assessed Value
$174,945
Average Champaign County Assessed Value
$139,430
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cable, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43009 | $2,928 | $99,500 | $174,945 | $280,065 | $421,161 |
Source: Ownwell
Property Tax Bills Across Cable, Ohio
In Cable, Champaign County, OH, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. Homeowners in Cable can expect tax bills to vary significantly based on the value of their property. For example, the tax bill at the 25th percentile is $1,475, while at the 75th percentile, it rises to $3,496. At the 90th percentile, homeowners can face tax bills as high as $5,016. The median home price in Cable is $174,945, and the property tax rate is influenced by local government budgets and school district funding needs. This means that while Cable's property tax rate can be compared with the national median of 0.99%, individual tax bills will depend on the specific assessed value of each property. High property taxes can impact homeowners by increasing the overall cost of homeownership, potentially affecting affordability and long-term financial planning.
Average Cable Tax Bill
$2,377
Average Champaign County Tax Bill
$1,926
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Cable, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43009 | $538 | $1,475 | $2,377 | $3,496 | $5,016 |
Source: Ownwell