Casstown, Ohio Property Taxes
The median property tax rate in Casstown, Ohio is 1.32%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Casstown, the typical annual property tax bill reaches $2,198, which is below the national median of $2,690. Property taxes in Casstown 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 Casstown'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 Casstown 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
Casstown, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.32%
Estimate Property Tax Bill
$2,182
Ownwell’s Casstown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Casstown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Casstown 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 Casstown, Ohio
Property taxes in Casstown, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Casstown is 1.32%, which is significantly higher than the Ohio state median of 1.51% and the U.S. national median of 0.99%. Local government entities within Casstown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Casstown 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 Casstown's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45312 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 cities compare with Casstown 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 Casstown Tax Rate
1.32%
Average Champaign County Tax Rate
1.33%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Casstown, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45312 | 0.76% | 1.20% | 1.32% | 1.33% | 1.33% |
Source: Ownwell
Property Tax Assessment Values Across Casstown, Ohio
In Casstown, 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 local 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 Casstown, 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 Casstown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Casstown is $165,270, with the median tax bill for the 25th percentile at $1,847 and for the 75th percentile at $3,136. Notably, the highest and lowest median tax bills are both $2,198, found in the 45312 zip code.
Average Casstown Assessed Value
$165,270
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 Casstown, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45312 | $2,082 | $137,612 | $165,270 | $239,052 | $302,916 |
Source: Ownwell
Property Tax Bills Across Casstown, Ohio
In Casstown, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. For instance, with a median home price of $165,270, the assessed value is determined and then multiplied by the local tax rate to find the annual tax bill. The median property tax rate in Casstown is 1.33%, which is higher than the national median of 0.99%. This means homeowners in Casstown can expect to pay more in property taxes compared to the national average. Factors such as property size, location, and improvements can influence the assessed value, and consequently, the tax bill. For example, tax bills in Casstown range from $1,847 at the 25th percentile to $3,705 at the 90th percentile, reflecting the variability in property values and assessments. This higher tax rate can significantly impact homeowners, making it crucial for them to be aware of potential tax liabilities when purchasing property in the area.
Average Casstown Tax Bill
$2,198
Average Champaign County Tax Bill
$1,926
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Casstown, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45312 | $1,764 | $1,847 | $2,198 | $3,136 | $3,705 |
Source: Ownwell