Minster, Ohio Property Taxes
The median property tax rate in Minster, OH is 2.11%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Minster, the typical annual property tax bill reaches $4,202, exceeding the national median of $2,690. Property taxes in Minster 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 Minster'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 Minster 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
Minster, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.11%
Estimate Property Tax Bill
$4,353
$4,039
Ownwell’s Minster Property Tax Bill Calculator aids homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Minster with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Minster to provide an estimate of your property tax bill. This valuable tool helps you grasp potential tax liabilities. For those interested in more detailed trends at a neighborhood level, additional localized information is available below. Your property’s assessed value, determined by the county for tax calculations, includes any applicable exemptions.
Property Tax Rates Across Minster, Ohio
Property taxes in Minster, Ohio, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Minster is 1.18%, higher than both the Ohio state median of 1.41% and the U.S. national median of 0.99%. Local government entities within Minster set these rates annually, and they can vary significantly across different neighborhoods. Each year, Minster 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 Minster's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45865 zip code has the highest median property tax rate of 1.18%, while the same zip code also has the lowest median tax rate of 1.18%. Understanding how these cities compare with Minster provides valuable insights into the varying tax landscape across Auglaize County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Minster Tax Rate
2.11%
Average Auglaize County Tax Rate
1.86%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Minster, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45865 | 1.87% | 2.01% | 2.11% | 2.24% | 2.29% |
Source: Ownwell
Property Tax Assessment Values Across Minster, Ohio
In Minster, 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 Auglaize 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 Minster, 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 Minster helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 45865 has both the highest and lowest median tax bill at $4,202.
Average Minster Assessed Value
$206,280
Average Auglaize County Assessed Value
$135,635
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Minster, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45865 | $11,300 | $102,430 | $206,280 | $300,760 | $433,490 |
Source: Ownwell
Property Tax Bills Across Minster, Ohio
In Minster, located in Auglaize County, OH, property tax bills are calculated based on the assessed value of your home. The assessed value is determined by local government assessors and is a percentage of the market value of your property. The tax rate in Minster is then applied to this assessed value to determine your annual property tax bill. Several factors influence your property tax bill, including the median home price, which is $206,280 in Minster. Homeowners in the 25th percentile can expect a tax bill around $2,087, while those in the 75th percentile might see a bill as high as $6,136. For those in the 90th percentile, the tax bill can reach up to $9,017. These property taxes are crucial as they fund local services such as schools, infrastructure, and emergency services, directly impacting the quality of life for homeowners. Comparing this to the national median property tax rate of 0.99%, Minster's rates reflect the local economic conditions and community needs.
Average Minster Tax Bill
$4,202
Average Auglaize County Tax Bill
$2,263
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Minster, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45865 | $272 | $2,087 | $4,202 | $6,136 | $9,017 |
Source: Ownwell