Tremont City, Ohio Property Taxes
The median property tax rate in Tremont City, OH is 1.55%, which is notably higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With a median home value of $62,545, the typical annual property tax bill in Tremont City amounts to $953, which is well below the national median of $2,690. Property taxes in Tremont City are based on the tax assessed value, often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Tremont City'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 Tremont City or another part of Clark County, grasping the nuances of the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Tremont City, Ohio Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.8%
Estimate Property Tax Bill
$3,600
Ownwell’s Tremont City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tremont City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tremont City 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 Tremont City, Ohio
Property taxes in Tremont City, Ohio, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Tremont City is 1.55%, significantly higher than the U.S. national median of 0.99%. Local government entities within Tremont City set these rates annually, and they can vary across different neighborhoods. Each year, Tremont City 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 Tremont City's effective property tax rate to other areas in Ohio and the national median. For comparison, the zip code 45372 has both the highest and lowest median property tax rate of 1.55%. Understanding how these areas compare with Tremont City provides valuable insights into the varying tax landscape across Clark County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Tremont City Tax Rate
1.55%
Average Clark County Tax Rate
1.69%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tremont City, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45372 | 0.73% | 1.54% | 1.55% | 1.59% | 1.60% |
Source: Ownwell
Property Tax Assessment Values Across Tremont City, Ohio
In Tremont City, 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 Clark County Auditor 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 Tremont City, 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 Tremont City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $953.00, found in the 45372 zip code.
Average Tremont City Assessed Value
$62,545
Average Clark County Assessed Value
$117,390
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Tremont City, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45372 | $16,881 | $48,972 | $62,545 | $101,922 | $149,620 |
Source: Ownwell
Property Tax Bills Across Tremont City, Ohio
In Tremont City, Clark County, OH, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is then multiplied by the local tax rate to arrive at the annual tax bill. The median home price in Tremont City is $62,545, and the tax rate applied to this value determines the final tax amount owed by homeowners. Several factors influence the assessed value, including the property's location, size, and condition. Property tax bills can vary significantly within the area. For example, the tax bill at the 25th percentile is $660, while at the 75th percentile, it rises to $1,731, and at the 90th percentile, it reaches $2,438. The highest and lowest median tax bills in the area are both $953, found in the 45372 zip code, indicating a uniformity in tax assessment within that specific region. These taxes fund essential public services, impacting the overall quality of life for residents.
Average Tremont City Tax Bill
$953
Average Clark County Tax Bill
$1,871
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Tremont City, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45372 | $256 | $660 | $953 | $1,731 | $2,438 |
Source: Ownwell