Chesterville, Ohio Property Taxes
The median property tax rate in Chesterville, OH is 1.97%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Chesterville at $63,000, the typical annual property tax bill reaches $1,203, exceeding the national median of $2,690. Property taxes in Chesterville 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 Chesterville'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 Chesterville 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
Chesterville, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.97%
Estimate Property Tax Bill
$1,241
Ownwell’s Chesterville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Chesterville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Chesterville 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 Chesterville, Ohio
Property taxes in Chesterville, Ohio, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Chesterville is 1.97%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Chesterville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Chesterville 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 Chesterville's effective property tax rate to other counties in Ohio and the national median. For comparison, the 43317 zip code has the highest median property tax rate of 1.97%, while the same zip code also has the lowest median tax rate of 1.97%. Understanding how these cities compare with Chesterville 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 Chesterville Tax Rate
1.97%
Average Morrow County Tax Rate
1.58%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Chesterville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43317 | 1.60% | 1.69% | 1.97% | 2.05% | 2.53% |
Source: Ownwell
Property Tax Assessment Values Across Chesterville, Ohio
In Chesterville, 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 Chesterville, 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 Chesterville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Chesterville both occur in the 43317 zip code, with values reaching $1,203.
Average Chesterville Assessed Value
$63,000
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 Chesterville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43317 | $2,300 | $10,375 | $63,000 | $124,075 | $181,870 |
Source: Ownwell
Property Tax Bills Across Chesterville, Ohio
In Chesterville, located in Morrow County, OH, property tax bills are calculated based on the assessed value of a home, which is derived from the market value. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. This process considers several factors, including the property's location, size, and any improvements made. For instance, the median home price in Chesterville is $63,000, which influences the assessed value and, consequently, the tax bill. Homeowners in Chesterville experience a range of property tax bills. The 25th percentile tax bill is $266, while the 75th percentile reaches $2,217. At the higher end, the 90th percentile tax bill is $3,320. These figures suggest a significant variation in tax burdens, reflecting differences in property values and assessments. Compared to the national median property tax rate of 0.99%, Chesterville's property taxes can vary widely, impacting homeowners differently based on their property's assessed value and the local tax rate.
Average Chesterville Tax Bill
$1,203
Average Morrow County Tax Bill
$1,602
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Chesterville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43317 | $80 | $266 | $1,203 | $2,217 | $3,320 |
Source: Ownwell