Centerburg, Ohio Property Taxes
The median property tax rate in Centerburg, OH is 1.53%, 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 $158,200 in Centerburg, the typical annual property tax bill amounts to $2,436, slightly below the national median of $2,690. Property taxes in Centerburg are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Centerburg'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 Centerburg or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Centerburg, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.53%
Estimate Property Tax Bill
$2,420
Ownwell’s Centerburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Centerburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Centerburg 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 Centerburg, Ohio
Property taxes in Centerburg, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Centerburg is 1.53%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Centerburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Centerburg 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 Centerburg's effective property tax rate to other counties in Ohio and the national median. For comparison, the 43011 zip code has the highest median property tax rate of 1.53%, while also having the lowest median tax rate of 1.53%. Understanding how these cities compare with Centerburg provides valuable insights into the varying tax landscape across Morrow County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Centerburg Tax Rate
1.53%
Average Morrow County Tax Rate
1.58%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Centerburg, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43011 | 1.34% | 1.52% | 1.53% | 1.56% | 1.63% |
Source: Ownwell
Property Tax Assessment Values Across Centerburg, Ohio
In Centerburg, 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 Morrow 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 Centerburg, 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 Centerburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Centerburg is $2,436 in the 43011 zip code, while the lowest median tax bill is also $2,436 in the same zip code.
Average Centerburg Assessed Value
$158,200
Average Morrow County Assessed Value
$98,100
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Centerburg, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43011 | $12,500 | $59,700 | $158,200 | $238,850 | $306,580 |
Source: Ownwell
Property Tax Bills Across Centerburg, Ohio
In Centerburg, located in Morrow County, OH, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. Factors that influence the tax bill include the home's market value, the assessment ratio, and the local tax rate. For instance, the median home price in Centerburg is $158,200, and the median property tax bill is $2,436, which is significantly higher than the national median property tax rate of 0.99%. Homeowners in Centerburg can expect their property tax bills to vary widely. For example, the tax bill at the 25th percentile is $1,140, while at the 75th percentile, it rises to $3,672, and at the 90th percentile, it reaches $4,704. These variations can significantly impact homeowners, affecting their annual budget and long-term financial planning. Understanding these factors helps homeowners anticipate their property tax obligations and manage their finances more effectively.
Average Centerburg Tax Bill
$2,436
Average Morrow County Tax Bill
$1,602
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Centerburg, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43011 | $238 | $1,140 | $2,436 | $3,672 | $4,704 |
Source: Ownwell