Cynthiana, Ohio Property Taxes
The median property tax rate in Cynthiana, Ohio is 1.16%, which is higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With the median home value in Cynthiana at $31,245, the typical annual property tax bill is $217, significantly below the national median of $2,690. Property taxes in Cynthiana are calculated based on the tax assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Cynthiana's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Cynthiana or another part of Pike County, grasping the local property tax system benefits both homeowners and real estate investors.
Last Updated June 14, 2024
Cynthiana, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.16%
Estimate Property Tax Bill
$362
Ownwell’s Cynthiana Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cynthiana with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cynthiana 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 Cynthiana, Ohio
Property taxes in Cynthiana, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cynthiana is 1.16%, higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Cynthiana set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cynthiana 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 Cynthiana's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45624 ZIP code has the highest median property tax rate of 1.16%, while the same ZIP code also has the lowest median tax rate of 1.16%. Understanding how these areas compare with Cynthiana provides valuable insights into the varying tax landscape across Pike County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cynthiana Tax Rate
1.16%
Average Pike County Tax Rate
1.23%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cynthiana, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45624 | 0.66% | 0.97% | 1.16% | 1.17% | 1.17% |
Source: Ownwell
Property Tax Assessment Values Across Cynthiana, Ohio
In Cynthiana, 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 Pike 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 Cynthiana, 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 Cynthiana helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $217.00 in zip code 45624, while the lowest is also $217.00 in the same zip code.
Average Cynthiana Assessed Value
$31,245
Average Pike County Assessed Value
$47,540
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cynthiana, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45624 | $13,539 | $18,322 | $31,245 | $49,798 | $64,715 |
Source: Ownwell
Property Tax Bills Across Cynthiana, Ohio
In Cynthiana, Pike County, OH, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the market value of the property, and this value is then multiplied by the local tax rate to determine the annual tax bill. For example, with a median home price of $31,245, homeowners can expect varying tax bills depending on their property's assessed value and the applicable tax rate. Factors such as property size, location, and improvements can influence the assessed value, ultimately affecting the tax bill. In Cynthiana, tax bills can range from the 25th percentile at $172 to the 75th percentile at $398, with the 90th percentile reaching up to $671. These variations highlight the impact of property characteristics and local tax rates on homeowners' financial obligations. Compared to the national median property tax rate of 0.99%, Cynthiana offers a relatively affordable tax environment, providing some financial relief to its residents.
Average Cynthiana Tax Bill
$217
Average Pike County Tax Bill
$512
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Cynthiana, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45624 | $141 | $172 | $217 | $398 | $671 |
Source: Ownwell