Gratis, Ohio Property Taxes
The median property tax rate in Gratis, OH is 1.32%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Gratis, the typical annual property tax bill reaches $1,155, which is below the national median of $2,690. Property taxes in Gratis are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Gratis'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 Gratis 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
Gratis, 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 GRATIS Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in GRATIS with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in GRATIS 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 Gratis, Ohio
Property taxes in Gratis, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gratis is 1.32%, significantly higher than the U.S. national median of 0.99%. Local government entities within Gratis set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gratis 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 Gratis's effective property tax rate to other areas in Ohio and the national median. For comparison, the 45330 zip code has the highest median property tax rate of 1.32%, while the same zip code also has the lowest median tax rate of 1.32%. Understanding how these cities compare with Gratis provides valuable insights into the varying tax landscape across Preble County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gratis Tax Rate
1.32%
Average Preble County Tax Rate
1.43%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gratis, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45330 | 1.01% | 1.28% | 1.32% | 1.35% | 1.43% |
Source: Ownwell
Property Tax Assessment Values Across Gratis, Ohio
In Gratis, 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 Preble 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 Gratis, 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 Gratis helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the median home price in Gratis is $89,000, with median tax bills ranging from $909 at the 25th percentile to $1,677 at the 90th percentile. The highest and lowest median tax bills are both $1,155 in zip code 45330.
Average Gratis Assessed Value
$89,000
Average Preble County Assessed Value
$108,300
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gratis, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45330 | $40,950 | $74,500 | $89,000 | $107,425 | $131,090 |
Source: Ownwell
Property Tax Bills Across Gratis, Ohio
In Gratis, located in Preble County, OH, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county assessor and typically represents a percentage of the property's market value. Homeowners in Gratis can expect their property tax bills to vary significantly depending on their property's assessed value. For instance, the median home price in the area is $89,000, and property tax bills can range widely. At the 25th percentile, homeowners might see a tax bill of around $909, while those at the 75th percentile could pay approximately $1,371. The 90th percentile tax bill can go up to $1,677. This variability in tax bills means that homeowners with higher-value properties will pay more in taxes, directly impacting their annual expenses. Compared to the national median property tax rate of 0.99%, Gratis offers a range of tax bills that reflect both the local property values and the specific assessment practices of Preble County.
Average Gratis Tax Bill
$1,155
Average Preble County Tax Bill
$1,629
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Gratis, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45330 | $590 | $909 | $1,155 | $1,371 | $1,677 |
Source: Ownwell