Urbana, Ohio Property Taxes
The median property tax rate in Urbana, Ohio is 1.64%, which is higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Urbana at $185,890, the typical annual property tax bill amounts to $3,050, surpassing the national median of $2,690. Property taxes in Urbana are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Urbana'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 Urbana 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
Urbana, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.64%
Estimate Property Tax Bill
$3,049
Ownwell’s Urbana Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Urbana with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Urbana 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 Urbana, Ohio
Property taxes in Urbana, Ohio, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Urbana is 1.64%, higher than both the Ohio state median of 1.36% and the U.S. national median of 0.99%. Local government entities within Urbana set these rates annually, and they can vary significantly across different neighborhoods. Each year, Urbana 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 Urbana's effective property tax rate to other counties in Ohio and the national median. For comparison, the 43078 zip code has the highest median property tax rate of 1.64%, while the 43078 zip code also has the lowest median tax rate of 1.64%. Understanding how these cities compare with Urbana 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 Urbana Tax Rate
1.64%
Average Clark County Tax Rate
1.69%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Urbana, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43078 | 1.11% | 1.44% | 1.64% | 1.69% | 2.05% |
Source: Ownwell
Property Tax Assessment Values Across Urbana, Ohio
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Urbana, Ohio. The market value represents 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 local appraisal districts 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 Urbana, 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 Urbana helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Urbana is $3,050 in the 43078 zip code, while the same zip code also has the lowest median tax bill, reflecting a range of property values and tax strategies within the area.
Average Urbana Assessed Value
$185,890
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 Urbana, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43078 | $122,648 | $152,470 | $185,890 | $211,870 | $237,036 |
Source: Ownwell
Property Tax Bills Across Urbana, Ohio
In Urbana, property tax bills are calculated based on the assessed value of a property, which is determined by the local assessor's office. This assessed value is typically a percentage of the property's market value. Once the assessed value is established, the local tax rate is applied to calculate the annual property tax bill. Several factors influence the assessed value, including the property's location, size, age, and condition. For homeowners in Urbana, the median home price is $185,890, which serves as a benchmark for tax calculations. The property tax rate in Urbana is compared to the national median property tax rate of 0.99%, providing a context for understanding local tax burdens. The impact on homeowners can be significant. For instance, the 25th percentile tax bill is $1,916, while the 75th percentile reaches $3,491, and the 90th percentile can be as high as $5,022. These variations illustrate how property taxes can affect household finances, making it crucial for homeowners to understand their tax obligations.
Average Urbana Tax Bill
$3,050
Average Clark County Tax Bill
$1,871
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Urbana, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43078 | $1,189 | $1,916 | $3,050 | $3,491 | $5,022 |
Source: Ownwell