Millersport, Ohio Property Taxes
The median property tax rate in Millersport, OH is 2.19%, considerably higher than both the national median of 0.99% and Ohio's state median of 1.80%. With the median home value in Millersport at $212,300, the typical annual property tax bill reaches $4,611, far exceeding the national median of $2,690. Property taxes in Millersport 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 Millersport'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 Millersport 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
Millersport, Ohio Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.8%
Estimate Property Tax Bill
$3,600
Ownwell’s Millersport Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Millersport with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Millersport to project your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, additional localized information is available below. Your property’s assessed value is determined by Licking County for property tax calculations, considering any applicable exemptions.
Property Tax Rates Across Millersport, Ohio
Property taxes in Millersport, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Millersport is 2.19%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Millersport set these rates annually, and they can vary significantly across different neighborhoods. Each year, Millersport 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 Millersport's effective property tax rate to other counties in Ohio and the national median. For comparison, the 43046 zip code has the highest median property tax rate of 2.19%, while the same zip code also has the lowest median tax rate of 2.19%. Understanding how these cities compare with Millersport provides valuable insights into the varying tax landscape across Licking County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Millersport Tax Rate
2.19%
Average Licking County Tax Rate
2.22%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Millersport, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43046 | 1.50% | 2.19% | 2.19% | 2.19% | 2.30% |
Source: Ownwell
Property Tax Assessment Values Across Millersport, Ohio
In Millersport, 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 Licking County Auditor 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 Millersport, 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 Millersport helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Millersport is $212,300, with the median tax bill ranging from $3,454 at the 25th percentile to $8,880 at the 90th percentile. The zip code 43046 has both the highest and lowest median tax bill at $4,611.
Average Millersport Assessed Value
$212,300
Average Licking County Assessed Value
$163,800
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Millersport, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43046 | $102,980 | $162,800 | $212,300 | $333,700 | $438,920 |
Source: Ownwell
Property Tax Bills Across Millersport, Ohio
In Millersport, located in Licking County, OH, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the county assessor and is typically a percentage of the property's market value. Various factors are considered, including the home's size, age, location, and any improvements or renovations. Homeowners in Millersport can expect to pay property taxes that reflect these assessed values. For instance, the median home price in Millersport is $212,300. Property tax bills can vary significantly, with the 25th percentile paying around $3,454 and the 75th percentile at approximately $6,876. At the higher end, the 90th percentile tax bill reaches $8,880. These figures illustrate the range of property tax obligations homeowners may encounter. Compared to the national median property tax rate of 0.99%, Millersport homeowners may find their tax rates to be competitive, yet the actual tax burden can vary widely based on individual property assessments. This variability can significantly impact homeowners' annual financial planning and overall cost of living.
Average Millersport Tax Bill
$4,611
Average Licking County Tax Bill
$3,689
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Millersport, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43046 | $1,878 | $3,454 | $4,611 | $6,876 | $8,880 |
Source: Ownwell