Dorset, Ohio Property Taxes
The median property tax rate in Dorset, OH is 1.62%, which is considerably higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With the median home value in Dorset at $51,800, the typical annual property tax bill amounts to $784, falling well below the national median of $2,690. Property taxes in Dorset are determined based on the tax assessed value, which often is lower than the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Dorset'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 Dorset or another part of Ashtabula County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Dorset, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.62%
Estimate Property Tax Bill
$839
Ownwell’s Dorset Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dorset with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dorset 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 Dorset, Ohio
Property taxes in Dorset, Ohio, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dorset is 1.62%, significantly higher than the U.S. national median of 0.99%. Local government entities within Dorset set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dorset 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 Dorset's effective property tax rate to other areas and the national median. For comparison, the zip code 44032 has the highest median property tax rate of 1.62%, while the same zip code also has the lowest median tax rate of 1.62%. Understanding how these cities compare with Dorset provides valuable insights into the varying tax landscape across Ashtabula County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dorset Tax Rate
1.62%
Average Ashtabula County Tax Rate
1.74%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dorset, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44032 | 1.16% | 1.48% | 1.62% | 1.65% | 1.72% |
Source: Ownwell
Property Tax Assessment Values Across Dorset, Ohio
In Dorset, 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 Ashtabula 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 Dorset, 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 Dorset helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Dorset are both $784.00, found in the zip code 44032.
Average Dorset Assessed Value
$51,800
Average Ashtabula County Assessed Value
$74,100
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dorset, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44032 | $12,680 | $21,650 | $51,800 | $96,700 | $131,100 |
Source: Ownwell
Property Tax Bills Across Dorset, Ohio
In Dorset, located in Ashtabula County, OH, property tax bills are determined based on the assessed value of a home, which is a percentage of its market value. The county applies a property tax rate to this assessed value to calculate the annual tax bill. Factors such as the median home price, currently at $51,800, and specific tax rates set by local authorities play significant roles in determining the final amount. Homeowners in Dorset experience a range of property tax bills. For instance, the 25th percentile tax bill is around $333, while the 75th percentile reaches $1,469, and the 90th percentile can go up to $2,004. The highest median tax bill in the area is $784, reflecting variations in property values and tax rates within different zip codes. Compared to the national median property tax rate of 0.99%, homeowners in Dorset may find their tax burdens vary significantly. These property taxes fund essential local services, impacting the community's quality of life and the homeowner's financial planning.
Average Dorset Tax Bill
$784
Average Ashtabula County Tax Bill
$1,299
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Dorset, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44032 | $180 | $333 | $784 | $1,469 | $2,004 |
Source: Ownwell