Mars, Ohio Property Taxes
The median property tax rate in Mars, OH is 1.80%, which aligns with the Ohio state median but is significantly higher than the national median of 0.99%. With the median home value in Mars at $133,600, the typical annual property tax bill is around $2,347, falling just short of the national median of $2,690. Property taxes in Mars are calculated based on the tax assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural land. Gaining a thorough understanding of Mars's property tax system, exploring available exemptions, and pinpointing opportunities for reductions can lead to meaningful annual savings. Whether you're located in the heart of Mars or another part of Ashtabula County, being well-versed in the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mars, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.8%
Estimate Property Tax Bill
$2,405
Ownwell’s Mars Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mars with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mars 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 Mars, Ohio
Property taxes in Mars, Ohio, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Mars is 1.80%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Mars set these rates annually, and they can vary across different neighborhoods. Each year, Mars 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 Mars's effective property tax rate to other counties in Ohio and the national median. For comparison, the 16046 zip code has the highest median property tax rate of 1.80%, while the 16046 zip code also has the lowest median tax rate of 1.80%. Understanding how these cities compare with Mars 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 Mars Tax Rate
1.80%
Average Ashtabula County Tax Rate
1.74%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mars, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16046 | 1.76% | 1.78% | 1.80% | 1.83% | 1.84% |
Source: Ownwell
Property Tax Assessment Values Across Mars, Ohio
In Mars, 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 Mars, 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. For example, the highest median tax bill is $2,347 in the 16046 zip code, while the lowest median tax bill is also $2,347 in the same zip code. Being aware of these valuation processes in Mars helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Mars Assessed Value
$133,600
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 Mars, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16046 | $34,320 | $71,550 | $133,600 | $195,650 | $232,880 |
Source: Ownwell
Property Tax Bills Across Mars, Ohio
In Mars, located in Ashtabula County, OH, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. Various factors influence the assessed value, including the property's location, size, and condition, as well as recent sales of comparable properties in the area. For homeowners in Mars, the median home price is $133,600. The property tax bill can vary significantly, with the 25th percentile at $1,262 and the 75th percentile at $3,433, indicating a wide range of tax obligations depending on individual property assessments. At the 90th percentile, the tax bill can reach up to $4,084. Compared to the national median property tax rate of 0.99%, these figures highlight the variability and potential financial impact on homeowners in Mars. Understanding these factors can help homeowners better anticipate their property tax responsibilities and budget accordingly.
Average Mars Tax Bill
$2,347
Average Ashtabula County Tax Bill
$1,299
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Mars, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 16046 | $610 | $1,262 | $2,347 | $3,433 | $4,084 |
Source: Ownwell