Palestine, Ohio Property Taxes
The median property tax rate in Palestine, OH is 1.37%, 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 $50,135 in Palestine, the typical annual property tax bill is $748, significantly below the national median of $2,690. Property taxes in Palestine are calculated based on the tax assessed value, often less than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Palestine's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Palestine 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
Palestine, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.37%
Estimate Property Tax Bill
$687
Ownwell’s Palestine Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Palestine with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Palestine 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 Palestine, Ohio
Property taxes in Palestine, Ohio, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Palestine is 1.37%, higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Palestine set these rates annually, and they can vary significantly across different neighborhoods. Each year, Palestine 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 Palestine's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45352 zip code has the highest median property tax rate of 1.37%, while the 45352 zip code also has the lowest median tax rate of 1.37%. Understanding how these cities compare with Palestine provides valuable insights into the varying tax landscape across Darke County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Palestine Tax Rate
1.37%
Average Darke County Tax Rate
1.34%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Palestine, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45352 | 1.03% | 1.36% | 1.37% | 1.39% | 1.42% |
Source: Ownwell
Property Tax Assessment Values Across Palestine, Ohio
In Palestine, 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 Darke 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 Palestine, 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 Palestine helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 45352 has the highest median tax bill at $748, while the lowest is also in the same zip code.
Average Palestine Assessed Value
$50,135
Average Darke County Assessed Value
$110,800
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Palestine, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45352 | $23,099 | $35,730 | $50,135 | $66,815 | $102,118 |
Source: Ownwell
Property Tax Bills Across Palestine, Ohio
In Palestine, located in Darke County, OH, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the market value of the property. Homeowners in Palestine can expect a median property tax bill of $748 annually, which is significantly lower than the national median property tax rate of 0.99%. Several factors contribute to the final tax bill, including the property's assessed value, local tax rates, and any applicable exemptions or deductions. For instance, the tax bill for the 25th percentile of homes is $485, while it rises to $946 for the 75th percentile and $1263 for the 90th percentile. These variations illustrate how different property values and specific circumstances can impact the amount homeowners are required to pay. Understanding these factors can help homeowners in Palestine anticipate their tax obligations and plan accordingly.
Average Palestine Tax Bill
$748
Average Darke County Tax Bill
$1,406
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Palestine, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45352 | $224 | $485 | $748 | $946 | $1,263 |
Source: Ownwell