Mount Cory, Ohio Property Taxes
The median property tax rate in Mount Cory, OH is 1.34%, which is significantly higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With a median home value of $122,355 in Mount Cory, the typical annual property tax bill amounts to $1,542, which is below the national median of $2,690. Property taxes in Mount Cory are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Mount Cory'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 Mount Cory or another part of Putnam County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mount Cory, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.34%
Estimate Property Tax Bill
$1,640
Ownwell’s MOUNT CORY Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in MOUNT CORY with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in MOUNT CORY 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 Mount Cory, Ohio
Property taxes in Mount Cory, Ohio, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Mount Cory is 1.34%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Mount Cory set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mount Cory 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 Mount Cory's effective property tax rate to other counties in Ohio and the national median. For comparison, the ZIP code 45868 has the highest and lowest median property tax rate of 1.34%. Understanding how these areas compare with Mount Cory provides valuable insights into the varying tax landscape across Putnam County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mount Cory Tax Rate
1.34%
Average Putnam County Tax Rate
1.30%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mount Cory, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45868 | 1.16% | 1.25% | 1.34% | 1.38% | 1.38% |
Source: Ownwell
Property Tax Assessment Values Across Mount Cory, Ohio
In Mount Cory, 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 Putnam 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 Mount Cory, 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 Mount Cory helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 45868 has both the highest and lowest median tax bills, each at $1542, with tax bills ranging from $1425 at the 25th percentile to $1836 at the 90th percentile.
Average Mount Cory Assessed Value
$122,355
Average Putnam County Assessed Value
$132,830
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mount Cory, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45868 | $104,540 | $105,350 | $122,355 | $141,868 | $147,191 |
Source: Ownwell
Property Tax Bills Across Mount Cory, Ohio
In Mount Cory, 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 home's market value, and this percentage can vary. For example, if the median home price in Mount Cory is $122,355, the assessed value will be a fraction of this amount. The property tax rate is then applied to the assessed value to determine the tax bill. Several factors influence the tax bill, including the property's location, the local tax rate, and any applicable exemptions. In Putnam County, where Mount Cory is located, the tax bills can vary significantly. For instance, the 25th percentile tax bill is around $1,425, while the 75th percentile tax bill is approximately $1,713. Homeowners at the 90th percentile pay about $1,836. These variations affect homeowners differently, with higher-valued properties generally resulting in higher tax bills. Compared to the national median property tax rate of 0.99%, the rates in Mount Cory are relatively moderate.
Average Mount Cory Tax Bill
$1,542
Average Putnam County Tax Bill
$1,712
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Mount Cory, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45868 | $1,401 | $1,425 | $1,542 | $1,713 | $1,836 |
Source: Ownwell