Cheshire, Ohio Property Taxes
The median property tax rate in Cheshire, OH is 1.07%, slightly higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With a median home value of $27,740 in Cheshire, the typical annual property tax bill amounts to $213, which is significantly below the national median of $2,690. Property taxes in Cheshire are calculated based on the tax assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Cheshire'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 Cheshire or another part of the county, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Cheshire, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.07%
Estimate Property Tax Bill
$297
Ownwell’s Cheshire Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in Cheshire. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Cheshire to provide an accurate estimate of your property tax bill. This tool offers a clear understanding of potential tax liabilities, ensuring you make informed financial decisions. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value, determined by the county, is used for property tax calculations and considers any applicable exemptions.
Property Tax Rates Across Cheshire, Ohio
Property taxes in Cheshire, Ohio, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cheshire is 1.07%, higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Cheshire set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cheshire 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 Cheshire's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45620 zip code has the highest median property tax rate of 1.07%, while the same zip code also has the lowest median tax rate of 1.07%. Understanding how these cities compare with Cheshire provides valuable insights into the varying tax landscape across Meigs County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cheshire Tax Rate
1.07%
Average Meigs County Tax Rate
1.16%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cheshire, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45620 | 0.81% | 1.05% | 1.07% | 1.10% | 1.11% |
Source: Ownwell
Property Tax Assessment Values Across Cheshire, Ohio
In Cheshire, 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 Meigs 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 Cheshire, 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 Cheshire helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Cheshire is $27,740, with the highest median tax bill being $213 in the 45620 zip code.
Average Cheshire Assessed Value
$27,740
Average Meigs County Assessed Value
$39,810
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cheshire, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45620 | $1,881 | $7,688 | $27,740 | $49,722 | $92,080 |
Source: Ownwell
Property Tax Bills Across Cheshire, Ohio
In Cheshire, located in Meigs County, OH, property tax bills are calculated based on the assessed value of the property. The assessed value is typically a percentage of the market value, which is determined by the county assessor. For homeowners in Cheshire, the median home price is $27,740. The property tax rate in Cheshire is applied to this assessed value to determine the annual tax bill. Several factors influence the property tax bill, including the property's location, size, and any applicable exemptions. For instance, the 25th percentile tax bill in Cheshire is $84, while the 75th percentile is $543, indicating a significant range based on property characteristics. The 90th percentile tax bill reaches up to $746, showcasing how higher-valued properties incur higher taxes. These property taxes are crucial for funding local services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, Cheshire's rates can be relatively low, offering a cost advantage to homeowners in the region.
Average Cheshire Tax Bill
$213
Average Meigs County Tax Bill
$451
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Cheshire, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45620 | $21 | $84 | $213 | $543 | $746 |
Source: Ownwell