Murray City, Ohio Property Taxes
The median property tax rate in Murray City, Ohio is 1.81%, slightly above both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Murray City at $42,480, the typical annual property tax bill is $740, which is below the national median of $2,690. Property taxes here are determined based on the assessed value, which often falls below the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Murray City'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 Murray City or another part of Hocking County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Murray City, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.81%
Estimate Property Tax Bill
$769
Ownwell’s Murray City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Murray City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Murray City 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 Murray City, Ohio
Property taxes in Murray City, Ohio, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Murray City is 1.81%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Murray City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Murray City 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 Murray City's effective property tax rate to other counties in Ohio and the national median. For comparison, the zip code 43144 has the highest median property tax rate of 1.81%, while the same zip code also has the lowest median tax rate of 1.81%. Understanding how these cities compare with Murray City provides valuable insights into the varying tax landscape across Hocking County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Murray City Tax Rate
1.81%
Average Hocking County Tax Rate
1.35%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Murray City, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43144 | 1.04% | 1.78% | 1.81% | 1.81% | 2.23% |
Source: Ownwell
Property Tax Assessment Values Across Murray City, Ohio
In Murray City, 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 Hocking 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 Murray City, 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 Murray City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $740, found in zip code 43144, while the lowest median tax bill is also $740 in the same zip code.
Average Murray City Assessed Value
$42,480
Average Hocking County Assessed Value
$109,310
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Murray City, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43144 | $6,370 | $15,400 | $42,480 | $60,000 | $90,430 |
Source: Ownwell
Property Tax Bills Across Murray City, Ohio
In Murray City, Hocking County, OH, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and reflects a percentage of the property's market value. For example, with a median home price of $42,480, homeowners can expect their tax bills to vary significantly. Factors such as property size, location, and improvements can influence the assessed value. Once the assessed value is established, it is multiplied by the local tax rate to determine the tax bill. In Murray City, the tax bills range from $338 at the 25th percentile to $1,593 at the 90th percentile. These property taxes fund essential public services like schools, infrastructure, and emergency services, directly impacting the community. Homeowners in Murray City should be aware of their property's assessed value and the corresponding tax rate to better understand their financial obligations and the benefits provided by their tax contributions.
Average Murray City Tax Bill
$740
Average Hocking County Tax Bill
$1,629
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Murray City, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43144 | $140 | $338 | $740 | $1,171 | $1,593 |
Source: Ownwell