Quincy, Ohio Property Taxes
The median property tax rate in Quincy, OH, is 1.55%, which is considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Quincy at $197,990, the typical annual property tax bill reaches $3,054, exceeding the national median of $2,690. Property taxes in Quincy 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 Quincy'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 Quincy 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
Quincy, 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 Quincy Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Quincy with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Quincy 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 Quincy, Ohio
Property taxes in Quincy, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Quincy is 1.55%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Quincy set these rates annually, and they can vary significantly across different neighborhoods. Each year, Quincy 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 Quincy's effective property tax rate to other counties in Ohio and the national median. For comparison, the zip code 43343 has both the highest and lowest median property tax rate of 1.55%. Understanding how these cities compare with Quincy provides valuable insights into the varying tax landscape across Shelby, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Quincy Tax Rate
1.55%
Average Shelby County Tax Rate
1.56%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Quincy, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43343 | 1.27% | 1.37% | 1.55% | 1.60% | 1.63% |
Source: Ownwell
Property Tax Assessment Values Across Quincy, Ohio
In Quincy, 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 Shelby 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 Quincy, 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 Quincy helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 43343 has the highest median tax bill at $3,054.
Average Quincy Assessed Value
$197,990
Average Shelby County Assessed Value
$119,350
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Quincy, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43343 | $196,838 | $197,270 | $197,990 | $249,355 | $280,174 |
Source: Ownwell
Property Tax Bills Across Quincy, Ohio
In Quincy, Ohio, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is a percentage of the market value of the property. The tax rate, or millage rate, is then applied to this assessed value to determine the annual tax bill. Several factors influence the assessed value, including the property's location, size, and condition. For homeowners in Quincy, the median home price is $197,990, leading to varying tax bills. For instance, the 25th percentile of tax bills is around $2,711, while the 75th percentile reaches $4,011, and the 90th percentile can go up to $4,586. Comparing these figures to the national median property tax rate of 0.99%, it’s evident that Quincy’s property tax rates can be relatively high, impacting homeowners significantly. Such tax bills fund essential public services like schools, roads, and emergency services, making them a crucial aspect of community development. However, high property taxes can also be a financial burden for homeowners, affecting affordability and overall living costs.
Average Quincy Tax Bill
$3,054
Average Shelby County Tax Bill
$1,867
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Quincy, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43343 | $2,505 | $2,711 | $3,054 | $4,011 | $4,586 |
Source: Ownwell