Chesapeake, Ohio Property Taxes
The median property tax rate in Chesapeake, OH is 1.00%, which is slightly above the national median of 0.99% but significantly lower than the Ohio state median of 1.80%. With the median home value in Chesapeake at $84,365, the typical annual property tax bill amounts to $839, well below the national median of $2,690. Property taxes in Chesapeake are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Chesapeake'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 Chesapeake or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Chesapeake, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1%
Estimate Property Tax Bill
$844
Ownwell’s Chesapeake Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Chesapeake using just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Chesapeake 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 Chesapeake, Ohio
Property taxes in Chesapeake, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Chesapeake is 1.00%, slightly higher than the U.S. national median of 0.99%. Local government entities within Chesapeake set these rates annually, which can vary significantly across different neighborhoods. Each year, Chesapeake 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 Chesapeake's effective property tax rate to other areas in Lawrence County and the national median. For comparison, the ZIP code 45619 has both the highest and lowest median property tax rate in Lawrence County, standing at 1.00%. Understanding how these areas compare with Chesapeake provides valuable insights into the varying tax landscape across Lawrence County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Chesapeake Tax Rate
1.00%
Average Lawrence County Tax Rate
1.02%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Chesapeake, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45619 | 0.77% | 0.97% | 1.00% | 1.08% | 1.15% |
Source: Ownwell
Property Tax Assessment Values Across Chesapeake, Ohio
In Chesapeake, 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 Lawrence 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 Chesapeake, 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 Chesapeake helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill is $839 in the 45619 zip code, providing a benchmark for homeowners in the area.
Average Chesapeake Assessed Value
$84,365
Average Lawrence County Assessed Value
$85,530
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Chesapeake, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45619 | $14,698 | $37,405 | $84,365 | $130,122 | $193,752 |
Source: Ownwell
Property Tax Bills Across Chesapeake, Ohio
In Chesapeake, located in Lawrence County, OH, property tax bills are determined by assessing the value of a property and applying the local tax rate. The assessed value is typically a percentage of the market value of the home. Various factors such as the property's size, location, and condition are taken into account to determine this value. Once the assessed value is established, the local tax rate is applied to calculate the annual property tax bill. For homeowners in Chesapeake, the property tax burden can vary significantly. The 25th percentile of tax bills is around $375, while the 75th percentile sees bills of approximately $1302. Those in the 90th percentile may face tax bills as high as $1977. Compared to the national median property tax rate of 0.99%, Chesapeake's tax rates can be seen as relatively moderate, though individual experiences may vary based on the specific characteristics of their property. This variability can significantly impact homeowners' financial planning and overall cost of living in the area.
Average Chesapeake Tax Bill
$839
Average Lawrence County Tax Bill
$879
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Chesapeake, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45619 | $137 | $375 | $839 | $1,302 | $1,977 |
Source: Ownwell