Cherry Fork, Ohio Property Taxes
The median property tax rate in Cherry Fork, OH is 1.57%, 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 $26,900 in Cherry Fork, the typical annual property tax bill is $346, well below the national median of $2,690. Property taxes in Cherry Fork are calculated based on the assessed value, which is often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Cherry Fork's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Cherry Fork or another part of Adams County, grasping the local property tax nuances will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Cherry Fork, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.57%
Estimate Property Tax Bill
$422
Ownwell’s Cherry Fork Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cherry Fork with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cherry Fork 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 Cherry Fork, Ohio
Property taxes in Cherry Fork, Ohio, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Cherry Fork is 1.57%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Cherry Fork set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cherry Fork 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 Cherry Fork's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45618 zip code has the highest median property tax rate of 1.57%, while the same zip code also has the lowest median tax rate of 1.57%. Understanding how these cities compare with Cherry Fork provides valuable insights into the varying tax landscape across Adams County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cherry Fork Tax Rate
1.57%
Average Adams County Tax Rate
1.44%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cherry Fork, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45618 | 0.68% | 1.38% | 1.57% | 1.64% | 1.71% |
Source: Ownwell
Property Tax Assessment Values Across Cherry Fork, Ohio
In Cherry Fork, 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 Adams 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 Cherry Fork, 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 Cherry Fork helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Cherry Fork is $346 in zip code 45618, while the lowest median tax bill is also $346 in the same zip code.
Average Cherry Fork Assessed Value
$26,900
Average Adams County Assessed Value
$61,700
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cherry Fork, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45618 | $5,840 | $6,900 | $26,900 | $40,000 | $42,740 |
Source: Ownwell
Property Tax Bills Across Cherry Fork, Ohio
Property tax bills in Cherry Fork, located in Adams County, OH, are calculated based on the assessed value of a property, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the final tax bill. Various factors influence this process, including property size, location, and any improvements made to the property. For homeowners in Cherry Fork, the median home price is $26,900. The tax bills can vary significantly, with the 25th percentile at $100 and the 75th percentile reaching $489. At the 90th percentile, tax bills can go up to $624. These figures illustrate the range of property tax obligations homeowners might face, which can impact their overall financial planning. Despite these variations, Cherry Fork's property tax rates remain competitive when compared to the national median property tax rate of 0.99%, making it a relatively affordable place for property ownership in terms of tax liabilities.
Average Cherry Fork Tax Bill
$346
Average Adams County Tax Bill
$833
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Cherry Fork, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45618 | $87 | $100 | $346 | $489 | $624 |
Source: Ownwell