Yorkshire, Ohio Property Taxes
The median property tax rate in Yorkshire, OH is 1.58%, 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 $179,200 in Yorkshire, the typical annual property tax bill reaches $2,439, slightly below the national median of $2,690. Property taxes in Yorkshire 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 Yorkshire'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 Yorkshire 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
Yorkshire, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.58%
Estimate Property Tax Bill
$2,831
Ownwell’s Yorkshire Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Yorkshire with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Yorkshire 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 Yorkshire, Ohio
Property taxes in Yorkshire, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Yorkshire is 1.58%, which is higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Yorkshire set these rates annually, and they can vary significantly across different neighborhoods. Each year, Yorkshire 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 Yorkshire's effective property tax rate to other areas in Ohio and the national median. For comparison, the 45822 zip code has the highest median property tax rate of 1.58%, while the 45388 zip code has the lowest median tax rate of 1.28%. Understanding how these cities compare with Yorkshire provides valuable insights into the varying tax landscape across Mercer County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Yorkshire Tax Rate
1.58%
Average Mercer County Tax Rate
1.53%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Yorkshire, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45388 | 1.28% | 1.28% | 1.28% | 1.28% | 1.28% |
| 45822 | 1.37% | 1.41% | 1.58% | 1.62% | 1.62% |
Source: Ownwell
Property Tax Assessment Values Across Yorkshire, Ohio
In Yorkshire, 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 Mercer 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 Yorkshire, 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 Yorkshire helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Mercer County is $2,668 in the 45822 zip code, while the lowest is $1,518 in the 45388 zip code.
Average Yorkshire Assessed Value
$179,200
Average Mercer County Assessed Value
$129,600
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Yorkshire, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45388 | $118,600 | $118,600 | $118,600 | $118,600 | $118,600 |
| 45822 | $147,960 | $168,000 | $179,250 | $245,550 | $292,650 |
Source: Ownwell
Property Tax Bills Across Yorkshire, Ohio
In Yorkshire, Mercer County, OH, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value typically represents a percentage of the property's market value. Homeowners in Yorkshire can expect their property tax bills to be influenced by various factors, including the local tax rate and any applicable exemptions. The median home price in Yorkshire is $179,200. With the national median property tax rate at 0.99%, Yorkshire's property taxes are relatively high. For instance, the tax bill for homes at the 25th percentile is $2,381, while those at the 75th percentile face bills around $3,408. At the 90th percentile, homeowners might pay up to $4,482. These tax bills directly impact homeowners by affecting their annual expenses and potentially influencing their decisions regarding home ownership and property investments. Understanding the components of property tax calculations can help homeowners better manage their finances and anticipate future tax obligations.
Average Yorkshire Tax Bill
$2,439
Average Mercer County Tax Bill
$1,932
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Yorkshire, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45388 | $1,518 | $1,518 | $1,518 | $1,518 | $1,518 |
| 45822 | $2,336 | $2,424 | $2,668 | $3,585 | $4,665 |
Source: Ownwell