Coalton, Ohio Property Taxes
The median property tax rate in Coalton, OH is 1.73%, which is considerably higher than the national median of 0.99% but slightly below the Ohio state median of 1.80%. With the median home value in Coalton at $29,635, the typical annual property tax bill reaches $519, significantly lower than the national median of $2,690. Property taxes in Coalton 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 Coalton’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 Coalton or another part of Jackson County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Coalton, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.73%
Estimate Property Tax Bill
$513
$476
Ownwell’s Coalton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Coalton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Coalton 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 Coalton, Ohio
Property taxes in Coalton, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Coalton is 1.73%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Coalton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Coalton 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 Coalton's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45621 zip code has both the highest and lowest median property tax rate of 1.73%. Understanding how these cities compare with Coalton provides valuable insights into the varying tax landscape across Jackson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Coalton Tax Rate
1.73%
Average Jackson County Tax Rate
1.66%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Coalton, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45621 | 1.73% | 1.73% | 1.73% | 1.74% | 1.74% |
Source: Ownwell
Property Tax Assessment Values Across Coalton, Ohio
In Coalton, 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 Jackson 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. Assessment notices in Coalton 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. In Coalton, the zip code 45621 has the highest median tax bill at $519. By being aware of these valuation processes, homeowners can identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Coalton Assessed Value
$29,635
Average Jackson County Assessed Value
$67,520
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Coalton, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45621 | $5,108 | $8,735 | $29,635 | $41,422 | $55,658 |
Source: Ownwell
Property Tax Bills Across Coalton, Ohio
In Coalton, Ohio, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The assessed value is then multiplied by the local tax rate set by Jackson County. For homeowners in Coalton, the median home price is $29,635. Property tax bills can vary significantly; for example, the tax bill at the 25th percentile is $152, while at the 75th percentile, it rises to $723, and at the 90th percentile, it reaches $974. These tax bills are influenced by various factors, including property improvements, neighborhood developments, and changes in local tax levies. Higher property taxes can impact homeowners by increasing their annual housing costs, potentially affecting affordability. Despite these fluctuations, the property tax rates in Coalton remain competitive compared to the national median property tax rate of 0.99%, providing a relatively affordable option for homeowners in the region.
Average Coalton Tax Bill
$519
Average Jackson County Tax Bill
$1,087
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Coalton, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45621 | $89 | $152 | $519 | $723 | $974 |
Source: Ownwell