Homer, Ohio Property Taxes
The median property tax rate in Homer, OH is 2.17%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Homer at $82,100, the typical annual property tax bill reaches $1,753, which is less than the national median of $2,690. Property taxes in Homer 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 Homer'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 Homer 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
Homer, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.17%
Estimate Property Tax Bill
$1,782
Ownwell’s Homer Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Homer with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Homer 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 Homer, Ohio
Property taxes in Homer, Ohio, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Homer is 2.17%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Homer set these rates annually, and they can vary across different neighborhoods. Each year, Homer 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 Homer's effective property tax rate to other counties in Ohio and the national median. For comparison, the zip code 43027 has both the highest and lowest median property tax rate in the county, standing at 2.17%. Understanding how these cities compare with Homer provides valuable insights into the varying tax landscape across Licking County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Homer Tax Rate
2.17%
Average Licking County Tax Rate
2.22%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Homer, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43027 | 1.68% | 2.17% | 2.17% | 2.17% | 2.17% |
Source: Ownwell
Property Tax Assessment Values Across Homer, Ohio
In Homer, 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 Licking 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 Homer, 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 Homer helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Homer is $82,100, with tax bills ranging from $924 at the 25th percentile to $2,557 at the 90th percentile. The zip code 43027 has the highest and lowest median tax bill of $1,753.
Average Homer Assessed Value
$82,100
Average Licking County Assessed Value
$163,800
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Homer, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43027 | $4,680 | $50,600 | $82,100 | $107,650 | $119,820 |
Source: Ownwell
Property Tax Bills Across Homer, Ohio
In Homer, located in Licking County, OH, property tax bills are calculated based on the assessed value of your home and the local tax rate. The assessed value is determined by the county assessor and typically represents a percentage of your home's market value. For example, if your home is valued at the median price of $82,100, this value will be used to calculate your tax bill. Local tax rates are applied to this assessed value to determine your annual tax obligation. Various factors influence your tax bill, including changes in the assessed value of your property, local government budgets, and voter-approved levies. Homeowners in Homer can expect their tax bills to vary widely, with the 25th percentile paying around $924 annually, while the 75th percentile pays approximately $2,227. Those in the 90th percentile see bills as high as $2,557. Compared to the national median property tax rate of 0.99%, these figures highlight the variability in property tax burdens within the region, significantly impacting homeowners' financial planning and budgeting.
Average Homer Tax Bill
$1,753
Average Licking County Tax Bill
$3,689
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Homer, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43027 | $102 | $924 | $1,753 | $2,227 | $2,557 |
Source: Ownwell