Fayetteville, Highland County, Ohio Property Taxes
The median property tax rate in Fayetteville, OH is 1.14%, 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 $154,700 in Fayetteville, the typical annual property tax bill amounts to $1,485, falling below the national median of $2,690. Property taxes in Fayetteville are calculated based on the tax assessed value, usually lower than the market value due to exemptions such as primary residence and agricultural exemptions. Navigating Fayetteville's property tax system, exploring available exemptions, and identifying potential reductions can lead to substantial annual savings. Whether you reside in Fayetteville or another area within Highland County, gaining a comprehensive understanding of the local property tax system is beneficial for both homeowners and real estate investors.
Last Updated June 14, 2024
Fayetteville, Highland County, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.14%
Estimate Property Tax Bill
$1,764
$1,637
Ownwell’s Fayetteville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fayetteville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fayetteville 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 Fayetteville, Highland County, Ohio
Property taxes in Fayetteville, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fayetteville is 1.14%, which is significantly higher than the U.S. national median of 0.99%. Local government entities within Fayetteville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fayetteville 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 Fayetteville's effective property tax rate to other areas in Highland County and the national median. For comparison, the zip code 45118 has the highest and lowest median property tax rate of 1.14%. Understanding how these cities compare with Fayetteville provides valuable insights into the varying tax landscape across Highland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fayetteville Tax Rate
1.14%
Average Highland County Tax Rate
1.23%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fayetteville, Highland County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45118 | 0.63% | 0.87% | 1.14% | 1.17% | 1.17% |
Source: Ownwell
Property Tax Assessment Values Across Fayetteville, Highland County, Ohio
In Fayetteville, 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 Highland 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 Fayetteville, 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. The median home price in Fayetteville is $154,700, with tax bills ranging from $960 at the 25th percentile to $3,010 at the 90th percentile. The zip code 45118 has the highest and lowest median tax bill of $1,485. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Fayetteville, Highland County, Ohio
Source: Ownwell
$40,750
$97,725
$154,700
Average Fayetteville Assessed Value
$154,700
Average Highland County Assessed Value
$82,400
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fayetteville, Highland County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45118 | $27,640 | $94,400 | $154,700 | $242,300 | $392,340 |
Source: Ownwell
Property Tax Bills Across Fayetteville, Highland County, Ohio
In Fayetteville, 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. For example, a home with a median market price of $154,700 will have its tax bill calculated by applying the local tax rate to this assessed value. Various factors, such as property location, size, and condition, are considered in determining the assessed value. Homeowners in Fayetteville experience a range of property tax bills. For instance, the 25th percentile tax bill is around $960, while the 75th percentile reaches approximately $2,393. The highest tax bills, in the 90th percentile, can go up to $3,010. Comparatively, the national median property tax rate is 0.99%, which helps put these figures into perspective. Understanding these factors is crucial for homeowners as property taxes directly impact their annual expenses. Properly managing and appealing assessed values can lead to significant savings, making it essential for homeowners to stay informed and proactive.
Average Fayetteville Tax Bill
$1,485
Average Highland County Tax Bill
$971
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Fayetteville, Highland County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45118 | $323 | $960 | $1,485 | $2,393 | $3,010 |
Source: Ownwell