Walhonding, Knox County, Ohio Property Taxes
The median property tax rate in Walhonding, OH is 1.98%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Walhonding at $136,310, the typical annual property tax bill reaches $2,575, which is just below the national median of $2,690. Property taxes in Walhonding 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 Walhonding'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 Walhonding 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
Walhonding, Knox County, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.98%
Estimate Property Tax Bill
$2,699
$2,505
Ownwell’s Walhonding Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Walhonding with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Walhonding 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 Walhonding, Knox County, Ohio
Property taxes in Walhonding, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Walhonding is 1.98%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Walhonding set these rates annually, and they can vary significantly across different neighborhoods. Each year, Walhonding 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 Walhonding's effective property tax rate to other areas in Ohio and the national median. For comparison, the region with the highest median property tax rate, which is also Walhonding, has a rate of 1.98%, while the region with the lowest median tax rate, also Walhonding, has a rate of 1.98%. Understanding how these figures compare with Walhonding provides valuable insights into the consistent tax landscape across Knox County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Walhonding Tax Rate
1.98%
Average Knox County Tax Rate
1.84%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Walhonding, Knox County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43843 | 1.32% | 1.77% | 1.98% | 2.15% | 2.15% |
Source: Ownwell
Property Tax Assessment Values Across Walhonding, Knox County, Ohio
In Walhonding, 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 Walhonding, 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. Being aware of these valuation processes in Walhonding helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 43843, with a value of $2,575.
Property Tax Assessment Values Across Walhonding, Knox County, Ohio
Source: Ownwell
$55,820
$145,393
$234,965
Average Walhonding Assessed Value
$136,310
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 Walhonding, Knox County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43843 | $15,878 | $63,610 | $136,310 | $224,930 | $334,272 |
Source: Ownwell
Property Tax Bills Across Walhonding, Knox County, Ohio
In Walhonding, located in Knox County, OH, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is a percentage of the market value, reflecting the home's worth in the current real estate market. The tax rate, or millage rate, is then applied to this assessed value to determine the annual property tax bill. Several factors influence the assessed value, including the home's size, age, location, and any improvements or renovations. For homeowners in Walhonding, the median home price is $136,310. Property tax bills can vary significantly; for instance, the 25th percentile tax bill is $1,340, while the 75th percentile reaches $3,898, and the 90th percentile can go up to $5,646. These property taxes fund essential local services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, Walhonding homeowners may find their property tax bills to be relatively moderate, contributing to the community's overall quality of life.
Average Walhonding Tax Bill
$2,575
Average Knox County Tax Bill
$2,431
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Walhonding, Knox County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43843 | $439 | $1,340 | $2,575 | $3,898 | $5,646 |
Source: Ownwell