Cambridge, Ohio Property Taxes
The median property tax rate in Cambridge, Ohio is 1.62%, which is considerably higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With a median home value of $81,040 in Cambridge, the typical annual property tax bill reaches $1,262, falling below the national median of $2,690. Property taxes in Cambridge are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Cambridge'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 Cambridge 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
Cambridge, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.62%
Estimate Property Tax Bill
$1,313
Ownwell’s Cambridge Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cambridge with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cambridge 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 Cambridge, Ohio
Property taxes in Cambridge, Ohio, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cambridge is 1.62%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Cambridge set these rates annually, and they can vary across different neighborhoods. Each year, Cambridge 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 Cambridge's effective property tax rate to other regions in Ohio and the national median. For comparison, the zip code 43725 has the highest median property tax rate of 1.62%, while the same zip code also has the lowest median tax rate of 1.62%. Understanding how these cities compare with Cambridge provides valuable insights into the varying tax landscape across Guernsey County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cambridge Tax Rate
1.62%
Average Guernsey County Tax Rate
1.49%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cambridge, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43725 | 1.26% | 1.48% | 1.62% | 1.77% | 1.79% |
Source: Ownwell
Property Tax Assessment Values Across Cambridge, Ohio
Understanding the difference between "market value" and "assessed value" is essential for comprehending property taxes in Cambridge, Ohio. 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 Guernsey 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 Cambridge, 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. The median home price in Cambridge is $81,040, with tax bills ranging from $573 at the 25th percentile to $2,870 at the 90th percentile. The highest and lowest median tax bills, both at $1,262, are found in the 43725 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 manage their tax burden effectively.
Average Cambridge Assessed Value
$81,040
Average Guernsey County Assessed Value
$64,830
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cambridge, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43725 | $10,420 | $36,920 | $81,040 | $130,140 | $185,178 |
Source: Ownwell
Property Tax Bills Across Cambridge, Ohio
Property tax bills in Cambridge, located in Guernsey County, Ohio, are calculated based on the assessed value of a property, which is typically a percentage of its market value. The median home price in Cambridge is $81,040. The local tax rate is applied to this assessed value to determine the annual tax bill. Homeowners in Cambridge experience a range of property tax bills, with the 25th percentile at $573, the 75th percentile at $2,004, and the 90th percentile reaching $2,870. These variations depend on factors such as property size, location, and any applicable exemptions or deductions. The highest median tax bill in the area is $1,262, which is the same across all zip codes in Cambridge. Compared to the national median property tax rate of 0.99%, Cambridge's property tax bills reflect the local economic conditions and property values. Understanding these factors helps homeowners budget accordingly and anticipate their financial obligations.
Average Cambridge Tax Bill
$1,262
Average Guernsey County Tax Bill
$953
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Cambridge, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43725 | $163 | $573 | $1,262 | $2,004 | $2,870 |
Source: Ownwell