Empire, Ohio Property Taxes
The median property tax rate in Empire, OH is 2.28%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Empire at $14,985, the typical annual property tax bill reaches $344, exceeding the national median of $2,690. Property taxes in Empire 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 Empire'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 Empire 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
Empire, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.28%
Estimate Property Tax Bill
$342
Ownwell’s Empire Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Empire with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Empire 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 Empire, Ohio
Property taxes in Empire, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Empire is 1.52%, significantly higher than both the Ohio state median of 1.36% and the U.S. national median of 0.99%. Local government entities within Empire set these rates annually, and they can vary significantly across different neighborhoods. Each year, Empire 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 Empire's effective property tax rate to other counties in Ohio and the national median. For comparison, the ZIP code 43926 within Jefferson County has the highest median property tax rate of 1.52%, while the same ZIP code also has the lowest median tax rate of 1.52%. Understanding how these areas compare with Empire provides valuable insights into the varying tax landscape across Jefferson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Empire Tax Rate
2.28%
Average Jefferson County Tax Rate
2.19%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Empire, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43926 | 2.28% | 2.28% | 2.28% | 2.28% | 2.29% |
Source: Ownwell
Property Tax Assessment Values Across Empire, Ohio
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Empire, 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 Jefferson 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 Empire, 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 zip code 43926 has the highest median tax bill at $344, while the same zip code also represents the lowest median tax bill at $344. 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 Empire helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Empire Assessed Value
$14,985
Average Jefferson County Assessed Value
$67,215
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Empire, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43926 | $1,625 | $5,680 | $14,985 | $23,928 | $32,154 |
Source: Ownwell
Property Tax Bills Across Empire, Ohio
In Empire, located in Jefferson County, Ohio, property tax bills are calculated based on the assessed value of the home. The assessment is a percentage of the property's market value, determined by local authorities. Homeowners in Empire can expect property tax bills that vary significantly depending on the assessed value and the specific tax rate applied. The median home price in Empire is $14,985, which is relatively low compared to national averages. Consequently, property tax bills in Empire also tend to be lower. For instance, the 25th percentile tax bill is $142, while the 75th percentile tax bill rises to $555. At the higher end, the 90th percentile tax bill reaches $752. These taxes fund essential public services such as schools, emergency services, and infrastructure. While the tax rates are lower than the national median property tax rate of 0.99%, they still represent a significant expense for homeowners, impacting their overall cost of living and financial planning.
Average Empire Tax Bill
$344
Average Jefferson County Tax Bill
$1,517
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Empire, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43926 | $63 | $142 | $344 | $555 | $752 |
Source: Ownwell