Mount Eaton, Ohio Property Taxes
The median property tax rate in Mount Eaton, OH is 1.69%, considerably higher than the national median of 0.99% but slightly below the Ohio state median of 1.80%. With the median home value in Mount Eaton, the typical annual property tax bill reaches $1,150, which is still below the national median of $2,690. Property taxes in Mount Eaton 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 Mount Eaton'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 Eaton 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
Mount Eaton, 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 Mount Eaton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mount Eaton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mount Eaton 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 Eaton, Ohio
Property taxes in Mount Eaton, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mount Eaton is 1.69%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Mount Eaton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mount Eaton 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 Eaton's effective property tax rate to other counties in Ohio and the national median. For comparison, the zip code 44659 has the highest median property tax rate of 1.69%, while the same zip code also has the lowest median tax rate of 1.69%. Understanding how these cities compare with Mount Eaton provides valuable insights into the varying tax landscape across Wayne County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mount Eaton Tax Rate
1.69%
Average Wayne County Tax Rate
1.80%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mount Eaton, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44659 | 1.67% | 1.67% | 1.69% | 1.71% | 1.72% |
Source: Ownwell
Property Tax Assessment Values Across Mount Eaton, Ohio
In Mount Eaton, 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 Wayne 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 Eaton, 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 Eaton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill in the area is 44659, both standing at $1150.
Average Mount Eaton Assessed Value
$68,990
Average Wayne County Assessed Value
$144,025
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mount Eaton, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44659 | $11,810 | $16,860 | $68,990 | $87,000 | $125,550 |
Source: Ownwell
Property Tax Bills Across Mount Eaton, Ohio
Property tax bills in Mount Eaton, located in Wayne County, OH, are calculated based on the assessed value of a property, which is a percentage of its market value. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. In this region, the median property tax rate is approximately 1.67%, which is higher than the national median of 0.99%. Homeowners in Mount Eaton can expect their tax bills to vary significantly depending on their property's value. For instance, the 25th percentile tax bill is around $285, while the 75th percentile tax bill reaches $1,455. At the 90th percentile, homeowners might pay as much as $2,101 annually. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the community's quality of life. Understanding these factors helps homeowners anticipate their financial obligations and the benefits they receive in return.
Average Mount Eaton Tax Bill
$1,150
Average Wayne County Tax Bill
$2,548
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Mount Eaton, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44659 | $204 | $285 | $1,150 | $1,455 | $2,101 |
Source: Ownwell