Martinsville, Ohio Property Taxes
The median property tax rate in Martinsville, OH is 1.48%, which is notably higher than the national median of 0.99%, yet lower than the Ohio state median of 1.80%. With a median home value of $78,500 in Martinsville, the typical annual property tax bill amounts to $1,259, falling below the national median of $2,690. Property taxes in Martinsville are determined based on the tax assessed value, which is often less than the market value due to various exemptions, such as those for primary residences and agricultural properties. Navigating Martinsville's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in substantial annual savings. Whether you reside in the heart of Martinsville or another part of Clinton County, understanding the local property tax structure will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Martinsville, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.48%
Estimate Property Tax Bill
$1,162
$1,078
Ownwell’s Martinsville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Martinsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Martinsville 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 Martinsville, Ohio
Property taxes in Martinsville, Ohio, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Martinsville is 1.48%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Martinsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Martinsville 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 Martinsville's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45146 zip code has the highest median property tax rate of 1.48%, while the same zip code also has the lowest median tax rate of 1.48%. Understanding how these cities compare with Martinsville provides valuable insights into the varying tax landscape across Clinton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Martinsville Tax Rate
1.48%
Average Clinton County Tax Rate
1.56%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Martinsville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45146 | 1.12% | 1.28% | 1.48% | 1.83% | 2.61% |
Source: Ownwell
Property Tax Assessment Values Across Martinsville, Ohio
In Martinsville, 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 Clinton 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 Martinsville, 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. The median home price in Martinsville is $78,500, with tax bills ranging from the 25th percentile at $690 to the 90th percentile at $2,613. The zip code 45146 has both the highest and lowest median tax bill at $1,259. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Martinsville Assessed Value
$78,500
Average Clinton County Assessed Value
$106,220
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Martinsville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45146 | $10,699 | $40,078 | $78,500 | $126,615 | $186,954 |
Source: Ownwell
Property Tax Bills Across Martinsville, Ohio
Property tax bills in Martinsville, located in Clinton County, OH, are determined by several key factors. Primarily, the assessed value of a property plays a significant role. This assessed value is a percentage of the market value of the home. In Martinsville, the median home price stands at $78,500. The local tax rate is then applied to this assessed value to calculate the tax bill. For homeowners in Martinsville, tax bills can vary significantly. At the 25th percentile, the tax bill is around $690, while at the 75th percentile, it reaches $1,960. The highest tax bills, at the 90th percentile, can go up to $2,613. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark for understanding local rates. These property taxes are crucial as they fund essential public services like schools, infrastructure, and emergency services, directly impacting the quality of life for homeowners. Understanding how these taxes are calculated can help homeowners better manage their finances and anticipate annual expenses.
Average Martinsville Tax Bill
$1,259
Average Clinton County Tax Bill
$1,728
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Martinsville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45146 | $198 | $690 | $1,259 | $1,960 | $2,613 |
Source: Ownwell