Thurman, Ohio Property Taxes
The median property tax rate in Thurman, OH is 1.31%, which is higher than both the national median of 0.99% and the Ohio state median of 1.80%. With a median home value of $108,100 in Thurman, the typical annual property tax bill amounts to $1,407, surpassing the national median of $2,690. Property taxes in Thurman are calculated based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Thurman'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 Thurman 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
Thurman, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.31%
Estimate Property Tax Bill
$1,416
Ownwell’s Thurman Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Thurman with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Thurman 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 Thurman, Ohio
Property taxes in Thurman, Ohio, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Thurman is 1.31%, significantly higher than the U.S. national median of 0.99%. Local government entities within Thurman set these rates annually, and they can vary significantly across different neighborhoods. Each year, Thurman 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 Thurman's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45685 zip code has the highest median property tax rate of 1.31%, while the 45685 zip code also has the lowest median tax rate of 1.31%. Understanding how these areas compare with Thurman provides valuable insights into the varying tax landscape across Gallia County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Thurman Tax Rate
1.31%
Average Gallia County Tax Rate
1.29%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Thurman, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45685 | 0.93% | 1.22% | 1.31% | 1.31% | 1.37% |
Source: Ownwell
Property Tax Assessment Values Across Thurman, Ohio
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Thurman, Ohio. 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 Gallia 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 Thurman, 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 Thurman is $108,100, and the tax bill varies significantly, with the 25th percentile at $690 and the 75th percentile at $2,217. Notably, the highest median tax bill is $1,407 in the 45685 zip code, while the lowest is also $1,407 in the same zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Thurman Assessed Value
$108,100
Average Gallia County Assessed Value
$83,280
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Thurman, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45685 | $17,910 | $53,870 | $108,100 | $174,030 | $235,790 |
Source: Ownwell
Property Tax Bills Across Thurman, Ohio
In Thurman, property tax bills are calculated based on the assessed value of a home, which is determined by the Gallia County Assessor's Office. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. The median home price in Thurman is $108,100, and the property tax rate in Gallia County is relatively high compared to the national median property tax rate of 0.99%. Several factors influence the tax bill, including the property's location, size, and condition. For example, the 25th percentile of tax bills in Thurman is $690, while the 75th percentile reaches $2,217, and the 90th percentile can go up to $3,135. These variations indicate how different property characteristics can significantly impact the tax amount. For homeowners, this means that owning a higher-value or larger property could result in a substantially higher tax bill, influencing their overall cost of living and financial planning.
Average Thurman Tax Bill
$1,407
Average Gallia County Tax Bill
$1,068
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Thurman, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45685 | $242 | $690 | $1,407 | $2,217 | $3,135 |
Source: Ownwell