Fredericktown, Ohio Property Taxes
The median property tax rate in Fredericktown, OH is 1.85%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Fredericktown at $125,440, the typical annual property tax bill reaches $2,286, which is below the national median of $2,690. Property taxes in Fredericktown 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 Fredericktown'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 Fredericktown 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
Fredericktown, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.85%
Estimate Property Tax Bill
$2,321
$2,153
Ownwell’s Fredericktown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fredericktown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fredericktown 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 Fredericktown, Ohio
Property taxes in Fredericktown, Ohio, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fredericktown is 1.85%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Fredericktown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fredericktown 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 Fredericktown’s effective property tax rate to other counties in Ohio and the national median. For comparison, the 43019 zip code has the highest median property tax rate of 1.85%, while the same zip code also has the lowest median tax rate of 1.85%. Understanding how these cities compare with Fredericktown provides valuable insights into the varying tax landscape across Knox County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fredericktown Tax Rate
1.85%
Average Knox County Tax Rate
1.84%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fredericktown, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43019 | 1.41% | 1.68% | 1.85% | 1.98% | 2.04% |
Source: Ownwell
Property Tax Assessment Values Across Fredericktown, Ohio
In Fredericktown, 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 Knox 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 Fredericktown, 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 Fredericktown is $125,440, with property tax bills ranging from the 25th percentile at $1,499 to the 90th percentile at $4,876. 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 Fredericktown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Fredericktown Assessed Value
$125,440
Average Knox County Assessed Value
$133,520
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fredericktown, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43019 | $27,558 | $79,620 | $125,440 | $200,200 | $298,750 |
Source: Ownwell
Property Tax Bills Across Fredericktown, Ohio
In Fredericktown, Knox County, OH, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. Local tax rates, known as millage rates, are then applied to this assessed value to determine the annual tax bill. For homeowners in Fredericktown, the median home price is $125,440. Property tax bills can vary widely, with the 25th percentile at $1,499, the 75th percentile at $3,480, and the 90th percentile reaching $4,876. These taxes fund essential public services such as schools, roads, and emergency services, directly impacting community quality and property values. Compared to the national median property tax rate of 0.99%, Fredericktown's tax rates reflect the local government's financial needs and priorities. Homeowners in the area should be aware of these factors as they influence both the affordability and long-term value of their properties.
Average Fredericktown Tax Bill
$2,286
Average Knox County Tax Bill
$2,431
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Fredericktown, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43019 | $643 | $1,499 | $2,286 | $3,480 | $4,876 |
Source: Ownwell