Amherst, Ohio Property Taxes
The median property tax rate in Amherst, Ohio, stands at 1.61%, which is significantly higher than the national median of 0.99%, yet lower than the Ohio state median of 1.80%. With a median home value of $164,540 in Amherst, the typical annual property tax bill reaches $2,697, slightly surpassing the national median of $2,690. Property taxes in Amherst are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Navigating Amherst's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to meaningful annual savings. Whether you reside in the heart of Amherst or in another part of Lorain County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Amherst, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.61%
Estimate Property Tax Bill
$2,649
Ownwell’s Amherst Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Amherst with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Amherst 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 Amherst, Ohio
Property taxes in Amherst, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Amherst is 1.61%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Amherst set these rates annually, and they can vary significantly across different neighborhoods. Each year, Amherst 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 Amherst's effective property tax rate to other counties in Ohio and the national median. For comparison, the 44001 zip code has the highest median property tax rate of 1.61%, while the same 44001 zip code also has the lowest median tax rate of 1.61%. Understanding how these cities compare with Amherst provides valuable insights into the varying tax landscape across Lorain County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Amherst Tax Rate
1.61%
Average Lorain County Tax Rate
1.82%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Amherst, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44001 | 1.37% | 1.59% | 1.61% | 1.65% | 1.69% |
Source: Ownwell
Property Tax Assessment Values Across Amherst, Ohio
In Amherst, 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 Lorain 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 Amherst, 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 median home price in Amherst is $164,540, with tax bills ranging from $2,059 at the 25th percentile to $4,595 at the 90th percentile. The highest and lowest median tax bills both stand at $2,697 in zip code 44001. 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 Amherst helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Amherst Assessed Value
$164,540
Average Lorain County Assessed Value
$141,300
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Amherst, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44001 | $70,080 | $125,102 | $164,540 | $229,608 | $285,680 |
Source: Ownwell
Property Tax Bills Across Amherst, Ohio
In Amherst, OH, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of the property's market value. The Lorain County Auditor determines this assessed value, and it forms the basis for calculating property taxes. Several factors influence the tax bill, including the local tax rate, which is applied to the assessed value, and any exemptions or deductions the homeowner may qualify for. The median home price in Amherst is $164,540, and homeowners can expect varying tax bills depending on their property's value and specific circumstances. For instance, the 25th percentile tax bill is around $2,059, while the 75th percentile reaches $3,706, and the 90th percentile can go up to $4,595. These figures indicate a range of potential tax burdens, reflecting differences in property values and applicable tax rates. For homeowners, understanding these factors is crucial, as property taxes represent a significant annual expense. Comparing Amherst's tax rates to the national median property tax rate of 0.99% can provide additional context for evaluating local tax obligations.
Average Amherst Tax Bill
$2,697
Average Lorain County Tax Bill
$2,507
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Amherst, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44001 | $1,600 | $2,059 | $2,697 | $3,707 | $4,595 |
Source: Ownwell