Mount Perry, Ohio Property Taxes
The median property tax rate in Mount Perry, OH is 2.37%, significantly higher than both the national median of 0.99% and Ohio’s state median of 1.80%. With a median home value of $142,600 in Mount Perry, the typical annual property tax bill reaches $3,253, far exceeding the national median of $2,690. Property taxes in Mount Perry are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Mount Perry'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 Mount Perry or another part of Licking County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mount Perry, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.37%
Estimate Property Tax Bill
$3,380
$3,136
Ownwell’s Mount Perry Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Mount Perry with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mount Perry to provide an accurate estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities, making it easier to plan your finances. 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 Mount Perry, Ohio
Property taxes in Mount Perry, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mount Perry is 1.26%, which is higher than both the Ohio state median of 1.36% and the U.S. national median of 0.99%. Local government entities within Mount Perry set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mount Perry 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 Mount Perry's effective property tax rate to other counties in Ohio and the national median. For comparison, the 43760 zip code has the highest median property tax rate of 1.26%, while the same zip code also has the lowest median tax rate of 1.26%. Understanding how these cities compare with Mount Perry 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 Mount Perry Tax Rate
2.37%
Average Licking County Tax Rate
2.22%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mount Perry, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43760 | 1.36% | 2.14% | 2.37% | 2.37% | 2.38% |
Source: Ownwell
Property Tax Assessment Values Across Mount Perry, Ohio
In Mount Perry, 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 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 Mount Perry, 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 Mount Perry 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 43760, with a median tax bill of $3,253. The lowest median tax bill is also found in zip code 43760, with the same median tax bill value of $3,253.
Average Mount Perry Assessed Value
$142,600
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 Mount Perry, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43760 | $6,820 | $50,925 | $142,600 | $222,800 | $372,040 |
Source: Ownwell
Property Tax Bills Across Mount Perry, Ohio
In Mount Perry, located in Licking 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 then multiplied by the local tax rate, which varies by jurisdiction. Homeowners in Mount Perry can expect their property tax bills to be influenced by several factors, including the median home price of $142,600 and the specific tax rate applied within their area. For example, tax bills in the 25th percentile are around $1,176, while those in the 75th percentile reach up to $4,654. At the higher end, the 90th percentile tax bill is approximately $7,145. These figures illustrate the range of property taxes that homeowners might face, depending on their property's assessed value and the applicable tax rate. The highest median tax bill in the area is reported to be $3,253, highlighting the variability within the region. Compared to the national median property tax rate of 0.99%, Mount Perry's property taxes can significantly impact homeowners, especially those with higher-valued properties.
Average Mount Perry Tax Bill
$3,253
Average Licking County Tax Bill
$3,689
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Mount Perry, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43760 | $375 | $1,176 | $3,253 | $4,654 | $7,145 |
Source: Ownwell