Montpelier, Ohio Property Taxes
The median property tax rate in Montpelier, Ohio is 1.34%, which is higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Montpelier at $80,050, the typical annual property tax bill amounts to $1,035, surpassing the national median of $2,690. Property taxes in Montpelier are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Montpelier'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 Montpelier or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Montpelier, 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 Montpelier Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Montpelier with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Montpelier 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 Montpelier, Ohio
Property taxes in Montpelier, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Montpelier is 1.34%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Montpelier set these rates annually, and they can vary significantly across different neighborhoods. Each year, Montpelier 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 Montpelier's effective property tax rate to other counties in Ohio and the national median. For comparison, the zip code 43543 has the highest median property tax rate of 1.34%, while the same zip code also has the lowest median tax rate of 1.34%. Understanding how these cities compare with Montpelier provides valuable insights into the varying tax landscape across Williams County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Montpelier Tax Rate
1.34%
Average Williams County Tax Rate
1.51%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Montpelier, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43543 | 0.93% | 1.31% | 1.34% | 1.41% | 1.56% |
Source: Ownwell
Property Tax Assessment Values Across Montpelier, Ohio
In Montpelier, 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 Williams 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 Montpelier, 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. Montpelier's median home price is $80,050, with tax bills ranging from $642 at the 25th percentile to $2,504 at the 90th percentile. The highest and lowest median tax bills are both found in zip code 43543, amounting to $1,035. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Montpelier Assessed Value
$80,050
Average Williams County Assessed Value
$99,000
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Montpelier, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43543 | $25,300 | $49,925 | $80,050 | $121,800 | $193,270 |
Source: Ownwell
Property Tax Bills Across Montpelier, Ohio
In Montpelier, Ohio, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The median home price in Montpelier is $80,050. Tax rates are applied to this assessed value to determine the annual property tax bill. Factors such as property improvements, neighborhood changes, and market trends can influence assessed values, thus impacting the tax bill. Homeowners in Montpelier can expect property tax bills to vary significantly. For instance, the 25th percentile tax bill is $642, whereas the 75th percentile tax bill reaches $1,612. Those in the 90th percentile may face a tax bill as high as $2,504. The highest and lowest median tax bills in Montpelier are both $1,035, which is above the national median property tax rate of 0.99%. These property taxes fund essential local services such as schools, public safety, and infrastructure, directly affecting the community's quality of life. Consequently, understanding how property taxes are calculated can help homeowners manage their expenses and plan for the future.
Average Montpelier Tax Bill
$1,035
Average Williams County Tax Bill
$1,468
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Montpelier, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43543 | $332 | $642 | $1,035 | $1,612 | $2,504 |
Source: Ownwell