Jefferson, Ohio Property Taxes
The median property tax rate in Jefferson, OH is 2.56%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Jefferson, the typical annual property tax bill reaches $2,510, slightly below the national median of $2,690. Property taxes in Jefferson 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 Jefferson'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 Jefferson 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
Jefferson, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.56%
Estimate Property Tax Bill
$2,536
Ownwell’s Jefferson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Jefferson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Jefferson 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 Jefferson, Ohio
Property taxes in Jefferson, Ohio, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Jefferson is 1.02%, slightly higher than the Ohio state median of 1.00% but still above the U.S. national median of 0.99%. Local government entities within Jefferson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Jefferson 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 Jefferson's effective property tax rate to other counties in Ohio and the national median. For comparison, the 44047 zip code has the highest median property tax rate of 1.02%, while the same zip code also has the lowest median tax rate of 1.02%. Understanding how these cities compare with Jefferson provides valuable insights into the varying tax landscape across Ashtabula County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Jefferson Tax Rate
2.56%
Average Franklin County Tax Rate
2.10%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Jefferson, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44047 | 2.51% | 2.56% | 2.56% | 2.56% | 2.65% |
Source: Ownwell
Property Tax Assessment Values Across Jefferson, Ohio
In Jefferson, 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 Franklin 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 Jefferson, 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 Jefferson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in the area stands at $99,050. The highest median tax bill in Jefferson is associated with the zip code 44047, amounting to $2,510, while the lowest median tax bill is also found in the same zip code, reflecting the uniformity in tax assessments within the region.
Average Jefferson Assessed Value
$99,050
Average Franklin County Assessed Value
$168,000
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Jefferson, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44047 | $9,330 | $27,175 | $99,050 | $306,758 | $475,510 |
Source: Ownwell
Property Tax Bills Across Jefferson, Ohio
In Jefferson, located in Franklin County, OH, property tax bills are determined based on the assessed value of a property and the local tax rate. The assessed value is a percentage of the property's market value set by the county assessor. For example, with a median home price of $99,050, the tax bill can vary significantly. The 25th percentile tax bill is around $696, while the 75th percentile reaches up to $7,116, and the 90th percentile can be as high as $12,166. These variations reflect differences in property values and specific local tax rates. Factors such as property improvements, neighborhood changes, and local government budgets influence the assessed value and, consequently, the tax bill. For homeowners, this means that property taxes can represent a significant portion of their annual expenses, impacting their overall cost of living. Compared to the national median property tax rate of 0.99%, homeowners in Jefferson may find their tax bills to be either a financial burden or a manageable expense, depending on their property's assessed value and the local tax rate.
Average Jefferson Tax Bill
$2,510
Average Franklin County Tax Bill
$3,472
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Jefferson, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44047 | $275 | $696 | $2,510 | $7,116 | $12,166 |
Source: Ownwell