Sunbury, Ohio Property Taxes
The median property tax rate in Sunbury, OH is 2.44%, significantly higher than both the national median of 0.99% and Ohio's state median of 1.80%. With the median home value in Sunbury at $232,300, the typical annual property tax bill reaches $5,202, surpassing the national median of $2,690. Property taxes in Sunbury 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 Sunbury'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 Sunbury 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
Sunbury, 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 Sunbury Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sunbury with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sunbury 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 Sunbury, Ohio
Property taxes in Sunbury, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sunbury stands at 1.31%, which is significantly higher than both the Ohio state median of 1.36% and the U.S. national median of 0.99%. Local government entities within Sunbury set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sunbury 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 Sunbury's effective property tax rate to other counties in Ohio and the national median. For comparison, the 43074 zip code has the highest median property tax rate of 1.31%, while the same zip code also has the lowest median tax rate of 1.31%. Understanding how these cities compare with Sunbury provides valuable insights into the varying tax landscape across Delaware, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Sunbury Tax Rate
2.44%
Average Licking County Tax Rate
2.22%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sunbury, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43074 | 1.61% | 2.44% | 2.44% | 2.44% | 2.44% |
Source: Ownwell
Property Tax Assessment Values Across Sunbury, Ohio
In Sunbury, 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 Sunbury, 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. For instance, the highest median tax bill in the area is $5,202 in the 43074 zip code. 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 Sunbury helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Sunbury Assessed Value
$232,300
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 Sunbury, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43074 | $62,980 | $135,050 | $232,300 | $299,300 | $404,520 |
Source: Ownwell
Property Tax Bills Across Sunbury, Ohio
In Sunbury, Ohio, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of the market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. Several factors influence the tax bill, including the property's location within the county, the local school district, and any applicable exemptions or deductions. For homeowners in Sunbury, the median home price is $232,300. The property tax rate in this area can significantly impact annual expenses, with tax bills ranging from $3,143 at the 25th percentile to $8,420 at the 90th percentile. This variability highlights how different factors, such as neighborhood and property characteristics, play a role in the final tax amount. Compared to the national median property tax rate of 0.99%, Sunbury's rates can be relatively high, affecting homeowners' financial planning and budgeting. Understanding these factors can help residents anticipate their tax obligations and seek potential exemptions to reduce their tax burden.
Average Sunbury Tax Bill
$5,202
Average Licking County Tax Bill
$3,689
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Sunbury, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43074 | $1,538 | $3,143 | $5,202 | $7,161 | $8,420 |
Source: Ownwell