Derwent, Ohio Property Taxes
The median property tax rate in Derwent, OH is 1.47%, considerably higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With the median home value in Derwent, the typical annual property tax bill reaches $208, well below the national median of $2,690. Property taxes in Derwent 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 Derwent'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 Derwent 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
Derwent, 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 Derwent Property Tax Bill Calculator assists homeowners, real estate investors, and potential owners in estimating their annual property taxes in Derwent with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Derwent to estimate your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, additional localized information is available below. Your property’s assessed value is determined by Guernsey County for property tax calculations and takes into account any applicable exemptions.
Property Tax Rates Across Derwent, Ohio
Property taxes in Derwent, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Derwent is 1.47%, significantly higher than the Ohio state median of 1.36% and the U.S. national median of 0.99%. Local government entities within Derwent set these rates annually, and they can vary significantly across different neighborhoods. Each year, Derwent 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 Derwent's effective property tax rate to other counties in Ohio and the national median. For comparison, the 43733 zip code has the highest median property tax rate of 1.47%, while the same zip code also has the lowest median tax rate of 1.47%. Understanding how these cities compare with Derwent provides valuable insights into the varying tax landscape across Guernsey County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Derwent Tax Rate
1.47%
Average Guernsey County Tax Rate
1.49%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Derwent, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43733 | 1.00% | 1.45% | 1.47% | 1.50% | 1.58% |
Source: Ownwell
Property Tax Assessment Values Across Derwent, Ohio
In Derwent, 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 Guernsey County Auditor 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 Derwent, 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 example, the median home price in Derwent is $13,830, with tax bills ranging from $95 at the 25th percentile to $873 at the 90th percentile. 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 Derwent helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Derwent Assessed Value
$13,830
Average Guernsey County Assessed Value
$64,830
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Derwent, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43733 | $4,368 | $7,085 | $13,830 | $47,295 | $66,624 |
Source: Ownwell
Property Tax Bills Across Derwent, Ohio
Property tax bills in Derwent, located in Guernsey County, OH, are calculated based on the assessed value of a property. The assessed value is determined by the local assessor and is a percentage of the market value. In Derwent, the median home price is $13,830. Property taxes are then applied to this assessed value using the local tax rate. For instance, the 25th percentile tax bill is $95, while the 75th percentile tax bill is $574, showing a significant range based on property values and assessments. Several factors influence the tax bill, including property size, location, and any applicable exemptions. Homeowners in Derwent can expect their tax bills to vary, with the 90th percentile reaching up to $873. When comparing these figures to the national median property tax rate of 0.99%, Derwent's property taxes are relatively modest. Understanding these components helps homeowners anticipate their financial obligations and plan accordingly, ensuring they can manage their property taxes effectively.
Average Derwent Tax Bill
$208
Average Guernsey County Tax Bill
$953
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Derwent, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43733 | $54 | $95 | $208 | $574 | $873 |
Source: Ownwell