Berkey, Ohio Property Taxes
The median property tax rate in Berkey, OH is 1.92%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Berkey at $147,400, the typical annual property tax bill reaches $2,778, exceeding the national median of $2,690. Property taxes in Berkey 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 Berkey'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 Berkey or another part of Lucas County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Berkey, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.92%
Estimate Property Tax Bill
$2,830
Ownwell’s Berkey Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Berkey with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Berkey 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 Berkey, Ohio
Property taxes in Berkey, Ohio, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Berkey is 1.92%, significantly higher than the U.S. national median of 0.99%. Local government entities within Berkey set these rates annually, and they can vary significantly across different neighborhoods. Each year, Berkey 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 Berkey's effective property tax rate to other counties in Ohio and the national median. For comparison, the 43504 zip code has the highest median property tax rate of 1.92%, while the same 43504 zip code also has the lowest median tax rate of 1.92%. Understanding how these cities compare with Berkey provides valuable insights into the varying tax landscape across Lucas County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Berkey Tax Rate
1.92%
Average Lucas County Tax Rate
2.38%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Berkey, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43504 | 1.54% | 1.92% | 1.92% | 1.97% | 2.13% |
Source: Ownwell
Property Tax Assessment Values Across Berkey, Ohio
In Berkey, 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 Lucas 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 Berkey, 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 Berkey helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 43504 has the highest and lowest median tax bill at $2,778, which is significantly higher than the national median property tax rate of 0.99%.
Average Berkey Assessed Value
$147,400
Average Lucas County Assessed Value
$95,600
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Berkey, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43504 | $71,550 | $103,500 | $147,400 | $212,975 | $286,988 |
Source: Ownwell
Property Tax Bills Across Berkey, Ohio
In Berkey, located in Lucas 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 typically reflects a percentage of the home's market value. For instance, the median home price in Berkey stands at $147,400. Property taxes are then applied to this assessed value using the local tax rate. Several factors influence the final tax bill, including the property's location, any applicable exemptions, and the specific tax rates set by local jurisdictions. The tax bill can vary significantly; for example, the 25th percentile tax bill is $1,868, while the 75th percentile tax bill reaches $4,114. At the 90th percentile, homeowners might pay as much as $5,713. These property taxes fund essential community services such as schools, public safety, and infrastructure. For homeowners in Berkey, understanding how these taxes are calculated and what influences them can help in financial planning and property investment decisions.
Average Berkey Tax Bill
$2,778
Average Lucas County Tax Bill
$2,348
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Berkey, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43504 | $1,184 | $1,868 | $2,778 | $4,114 | $5,713 |
Source: Ownwell