Mount Cory, Ohio Property Taxes
The median property tax rate in Mount Cory, OH is 1.11%, slightly above the national median of 0.99% but lower than Ohio's state median of 1.80%. With the median home value in Mount Cory at $139,180, the typical annual property tax bill amounts to $1,510, which is below the national median of $2,690. Property taxes in Mount Cory are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Mount Cory'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 Mount Cory or another part of Hancock County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mount Cory, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.11%
Estimate Property Tax Bill
$1,545
Ownwell’s MOUNT CORY Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in MOUNT CORY with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in MOUNT CORY 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 Mount Cory, Ohio
Property taxes in Mount Cory, Ohio, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Mount Cory is 1.11%, higher than both the Ohio state median of 1.36% and the U.S. national median of 0.99%. Local government entities within Mount Cory set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mount Cory 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 Mount Cory's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45868 zip code has the highest median property tax rate of 1.11%, while the 45868 zip code also has the lowest median tax rate of 1.11%. Understanding how these cities compare with Mount Cory 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 Mount Cory Tax Rate
1.11%
Average Hancock County Tax Rate
1.24%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mount Cory, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45868 | 0.76% | 1.11% | 1.11% | 1.12% | 1.14% |
Source: Ownwell
Property Tax Assessment Values Across Mount Cory, Ohio
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Mount Cory, 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 Mount Cory, 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 Mount Cory is $139,180, with tax bills ranging from $906 at the 25th percentile to $3,585 at the 90th percentile. The highest median tax bill is $1,510 in the 45868 zip code, which is also the lowest median tax bill in the area. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Mount Cory Assessed Value
$139,180
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 Mount Cory, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45868 | $21,111 | $85,792 | $139,180 | $226,532 | $391,826 |
Source: Ownwell
Property Tax Bills Across Mount Cory, Ohio
Property tax bills in Mount Cory, located in Hancock County, OH, are calculated based on the assessed value of a property. The assessed value is a percentage of the property's market value, which is determined by the county assessor. Factors such as property size, location, and improvements are considered when calculating this value. Homeowners in Mount Cory can expect a tax bill that ranges significantly, with the 25th percentile at $906 and the 75th percentile reaching up to $2,323. For those at the 90th percentile, tax bills can be as high as $3,585. Compared to the national median property tax rate of 0.99%, Mount Cory's property tax rates can vary widely, affecting homeowners differently based on their property's assessed value. For instance, the highest median tax bill in the area is $1,510, which is specific to the 45868 zip code. Understanding these factors can help homeowners anticipate their annual tax obligations and budget accordingly.
Average Mount Cory Tax Bill
$1,510
Average Hancock County Tax Bill
$1,839
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Mount Cory, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45868 | $300 | $906 | $1,510 | $2,323 | $3,585 |
Source: Ownwell