Marathon, Ohio Property Taxes
The median property tax rate in Marathon, Ohio is 2.37%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Marathon, the typical annual property tax bill reaches $1,800, which exceeds the national median of $2,690. Property taxes in Marathon 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 Marathon'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 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
$2,500,000
$5,000,000
Average Tax Rate
1.8%
Estimate Property Tax Bill
$3,600
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 1.38%, higher than both 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 zip code 45218 has the highest median property tax rate of 2.37%, while zip code 45118 has the lowest median tax rate of 1.36%. Understanding how these cities compare with Marathon provides valuable insights into the varying tax landscape across Clermont County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Marathon Tax Rate
2.37%
Average Clermont County Tax Rate
4.63%
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 | 1.50% | 1.83% | 2.37% | 2.45% | 2.50% |
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 Clermont 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. For instance, the median home price in Marathon is $48,300. The 25th percentile tax bill is $1,001, while the 75th percentile tax bill is $2,013, and the 90th percentile tax bill is $2,140. The zip code 45118 has the highest and lowest median tax bill at $1,800. 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.
Average Marathon Assessed Value
$48,300
Average Clermont County Assessed Value
$145,600
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 | $2,550 | $6,375 | $48,300 | $101,050 | $124,360 |
Source: Ownwell
Property Tax Bills Across Marathon, Ohio
In Marathon, property tax bills are determined based on the assessed value of a home, which is typically a percentage of its market value. Homeowners in Clermont County see a range of property tax bills, with the 25th percentile paying around $1,001 and the 75th percentile paying approximately $2,013. The median home price in the area is $48,300, which serves as a baseline for these calculations. Several factors influence the final tax bill, including property location, local tax rates, and any applicable exemptions. The highest median tax bill recorded in the area is $1,800 in the 45118 zip code, which is significantly higher than the national median property tax rate of 0.99%. For homeowners, these taxes fund essential services such as schools, emergency services, and infrastructure. Understanding how these factors come together to determine the tax bill can help homeowners budget more effectively and potentially seek exemptions or appeals to lower their tax burden.
Average Marathon Tax Bill
$1,800
Average Clermont County Tax Bill
$6,844
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 | $521 | $1,001 | $1,800 | $2,013 | $2,140 |
Source: Ownwell