Marathon, Ohio Property Taxes
The median property tax rate in Marathon, Ohio is 0.93%, slightly below the national median of 0.99% and significantly lower than the Ohio state median of 1.80%. With a median home value of $65,200 in Marathon, the typical annual property tax bill is approximately $757, which is well below the national median of $2,690. Property taxes in Marathon are based on the assessed value, which is often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Marathon'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 Marathon 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
Marathon, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.93%
Estimate Property Tax Bill
$606
$563
Ownwell’s Marathon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Marathon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Marathon 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 Marathon, Ohio
Property taxes in Marathon, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Marathon is 0.93%, slightly lower than the Ohio state median of 1.36% and the U.S. national median of 0.99%. Local government entities within Marathon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Marathon 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 Marathon's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45118 zip code has the highest median property tax rate of 0.93%, while the same zip code also has the lowest median tax rate of 0.93%. Understanding how these cities compare with Marathon provides valuable insights into the varying tax landscape across Brown County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Marathon Tax Rate
0.93%
Average Brown County Tax Rate
1.17%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Marathon, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45118 | 0.43% | 0.69% | 0.93% | 1.16% | 1.16% |
Source: Ownwell
Property Tax Assessment Values Across Marathon, Ohio
In Marathon, 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 Brown 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 Marathon, 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 Marathon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Marathon is $65,200, with median tax bills ranging from $463 at the 25th percentile to $3,640 at the 90th percentile. The zip code with both the highest and lowest median tax bill is 45118, standing at $757.
Average Marathon Assessed Value
$65,200
Average Brown County Assessed Value
$109,630
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Marathon, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45118 | $24,154 | $39,875 | $65,200 | $155,335 | $628,800 |
Source: Ownwell
Property Tax Bills Across Marathon, Ohio
In Marathon, located in Brown County, OH, property tax bills are determined by a combination of the assessed value of the property and the local tax rate. The assessed value is typically a percentage of the property's market value. For instance, if a home has a median market price of $65,200, the assessed value will be a fraction of this amount, based on state guidelines. The local tax rate is then applied to the assessed value to calculate the tax bill. In Marathon, the tax bills can vary significantly. Homeowners in the 25th percentile pay around $463 annually, while those in the 75th percentile see bills of about $1,376. For those in the 90th percentile, the tax bill can reach up to $3,640. These property taxes fund essential local services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, Marathon's rates reflect the local economic conditions and property values, impacting homeowners' annual expenses and overall cost of living.
Average Marathon Tax Bill
$757
Average Brown County Tax Bill
$1,244
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Marathon, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45118 | $196 | $463 | $757 | $1,376 | $3,640 |
Source: Ownwell