Graysville, Ohio Property Taxes
The median property tax rate in Graysville, OH is 1.03%, slightly higher than the national median of 0.99% but lower than Ohio's state median of 1.80%. With a median home value of $80,810, the typical annual property tax bill in Graysville amounts to $779, which is below the national median of $2,690. Property taxes in Graysville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Graysville'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 Graysville 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
Graysville, Ohio Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.8%
Estimate Property Tax Bill
$3,600
Ownwell’s Graysville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Graysville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Graysville 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 Graysville, Ohio
Property taxes in Graysville, Ohio, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Graysville is 1.03%, higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Graysville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Graysville 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 Graysville's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45734 zip code has the highest median property tax rate of 1.03%, while the 45734 zip code also has the lowest median tax rate of 1.03%. Understanding how these cities compare with Graysville provides valuable insights into the varying tax landscape across Monroe County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Graysville Tax Rate
1.03%
Average Monroe County Tax Rate
1.01%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Graysville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45734 | 0.59% | 1.00% | 1.03% | 1.03% | 1.08% |
Source: Ownwell
Property Tax Assessment Values Across Graysville, Ohio
In Graysville, 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 Monroe 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 Graysville, 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 Graysville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 45734 has the highest and lowest median tax bill at $779.
Average Graysville Assessed Value
$80,810
Average Monroe County Assessed Value
$70,885
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Graysville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45734 | $3,849 | $23,468 | $80,810 | $151,998 | $240,691 |
Source: Ownwell
Property Tax Bills Across Graysville, Ohio
In Graysville, Monroe County, OH, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Graysville is $80,810. Tax rates are applied to this assessed value to determine the annual tax bill. Several factors influence the tax bill, including the property's location, size, and any applicable exemptions. Homeowners in Graysville can expect their tax bills to vary significantly. The 25th percentile tax bill is around $247, while the 75th percentile tax bill is approximately $1,309. For those at the 90th percentile, tax bills can reach up to $1,982. These figures highlight the range of tax burdens that homeowners may face, depending on their property's assessed value and any qualifying exemptions. Compared to the national median property tax rate of 0.99%, Graysville's tax rate impacts homeowners differently, potentially affecting their financial planning and overall housing costs.
Average Graysville Tax Bill
$779
Average Monroe County Tax Bill
$677
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Graysville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45734 | $59 | $247 | $779 | $1,309 | $1,982 |
Source: Ownwell