Kensington, Ohio Property Taxes
The median property tax rate in Kensington, OH is 1.14%, which is higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With a median home value of $105,750 in Kensington, the typical annual property tax bill amounts to $1,292, which is below the national median of $2,690. Property taxes in Kensington 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 properties. Understanding Kensington'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 Kensington 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
Kensington, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.14%
Estimate Property Tax Bill
$1,206
Ownwell’s Kensington Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kensington with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kensington 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 Kensington, Ohio
Property taxes in Kensington, Ohio, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Kensington is 1.14%, which is higher than the U.S. national median of 0.99%. Local government entities within Kensington set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kensington 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 Kensington's effective property tax rate to other areas in Ohio and the national median. For comparison, the 44607 zip code has the highest median property tax rate of 1.17%, while the 44427 zip code has the lowest median tax rate of 1.14%. Understanding how these areas compare with Kensington provides valuable insights into the varying tax landscape across Carroll County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kensington Tax Rate
1.14%
Average Carroll County Tax Rate
1.41%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kensington, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44427 | 0.63% | 0.99% | 1.14% | 1.37% | 1.38% |
| 44607 | 1.17% | 1.17% | 1.17% | 1.17% | 1.17% |
| 44615 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Kensington, Ohio
In Kensington, 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 Carroll 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 Kensington, 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 Kensington helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Kensington is $1,296 in the 44427 zip code, while the lowest median tax bill is also $1,296 in the same zip code.
Average Kensington Assessed Value
$105,750
Average Carroll County Assessed Value
$85,895
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kensington, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44427 | $5,040 | $34,125 | $107,445 | $183,640 | $270,340 |
| 44607 | $5,332 | $5,332 | $5,332 | $5,332 | $5,332 |
| 44615 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Kensington, Ohio
In Kensington, property tax bills are calculated based on the assessed value of a home, which is determined by the Carroll County tax assessor. The assessed value is a percentage of the property's market value. Various factors influence this value, including the home's size, location, and condition. Once the assessed value is established, it is multiplied by the local tax rate to determine the tax bill. For homeowners in Kensington, the property tax rate plays a significant role in their annual expenses. The median home price in the area is $105,750, with tax bills ranging widely. At the 25th percentile, homeowners can expect a tax bill of around $526, while those in the 75th percentile might see bills as high as $1,892. The highest tax bills in the 90th percentile can reach up to $2,519. These taxes fund essential public services, including schools, roads, and emergency services, directly impacting the quality of life in the community.
Average Kensington Tax Bill
$1,292
Average Carroll County Tax Bill
$1,225
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Kensington, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44427 | $94 | $575 | $1,296 | $1,909 | $2,539 |
| 44607 | $62 | $62 | $62 | $62 | $62 |
| 44615 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell