Carey, Ohio Property Taxes
The median property tax rate in Carey, Ohio is 1.17%, slightly higher than the national median of 0.99% but lower than Ohio's state median of 1.80%. With a median home value of $177,525 in Carey, the typical annual property tax bill amounts to $2,109, which is below the national median of $2,690. Property taxes in Carey are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Carey'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 Carey 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
Carey, 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 Carey Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Carey with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Carey 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 Carey, Ohio
Property taxes in Carey, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Carey is 1.17%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Carey set these rates annually, and they can vary significantly across different neighborhoods. Each year, Carey 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 Carey's effective property tax rate to other counties in Ohio and the national median. For comparison, the 43316 zip code has the highest median property tax rate of 1.17%, while the 43316 zip code also has the lowest median tax rate of 1.17%. Understanding how these cities compare with Carey provides valuable insights into the varying tax landscape across Hancock County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Carey Tax Rate
1.17%
Average Hancock County Tax Rate
1.24%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Carey, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43316 | 0.43% | 0.86% | 1.17% | 1.19% | 1.19% |
Source: Ownwell
Property Tax Assessment Values Across Carey, Ohio
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Carey, 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 Hancock 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 Carey, 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. The median home price in Carey is $177,525, with tax bills ranging from $1,305 at the 25th percentile to $3,362 at the 90th percentile. The highest and lowest median tax bills are both $2,109 in the 43316 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 their tax burden.
Average Carey Assessed Value
$177,525
Average Hancock County Assessed Value
$151,760
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Carey, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43316 | $99,494 | $113,948 | $177,525 | $318,708 | $534,195 |
Source: Ownwell
Property Tax Bills Across Carey, Ohio
Property tax bills in Carey, located in Hancock County, OH, are determined by a combination of the assessed value of the property and the local tax rate. The assessed value is typically a percentage of the property's market value, which is determined by the county assessor. The local tax rate is applied to this assessed value to calculate the annual tax bill. For instance, with a median home price of $177,525, homeowners in Carey can expect their property tax bills to vary significantly. At the 25th percentile, property tax bills are around $1,305, while at the 75th percentile, they rise to approximately $2,523. The top 10% of homeowners may see tax bills as high as $3,362. These figures highlight the impact of property values and local tax rates on the overall tax burden. Compared to the national median property tax rate of 0.99%, homeowners in Carey face a variable yet competitive tax environment, influencing their financial planning and property investment decisions.
Average Carey Tax Bill
$2,109
Average Hancock County Tax Bill
$1,839
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Carey, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43316 | $1,168 | $1,305 | $2,109 | $2,523 | $3,362 |
Source: Ownwell