Chester, Ohio Property Taxes
The median property tax rate in Chester, OH is 1.14%, slightly higher than the national median of 0.99% but significantly lower than the Ohio state median of 1.80%. With a median home value in Chester, the typical annual property tax bill reaches $427, which is well below the national median of $2,690. Property taxes in Chester are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Chester'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 Chester 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
Chester, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.14%
Estimate Property Tax Bill
$439
Ownwell’s Chester Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Chester with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Chester 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 Chester, Ohio
Property taxes in Chester, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Chester is 1.14%, higher than both the Ohio state median of 1.36% and the U.S. national median of 0.99%. Local government entities within Chester set these rates annually, and they can vary significantly across different neighborhoods. Each year, Chester 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 Chester's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45720 zip code has the highest median property tax rate of 1.14%, while the 45720 zip code also has the lowest median tax rate of 1.14%. Understanding how these cities compare with Chester provides valuable insights into the varying tax landscape across Meigs County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Chester Tax Rate
1.14%
Average Meigs County Tax Rate
1.16%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Chester, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45720 | 0.59% | 1.00% | 1.14% | 1.16% | 1.16% |
Source: Ownwell
Property Tax Assessment Values Across Chester, Ohio
In Chester, 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 Meigs 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 Chester, 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. Chester's median home price stands at $38,480, with tax bills ranging from $175 at the 25th percentile to $892 at the 90th percentile. Notably, the highest and lowest median tax bills are both found in the 45720 zip code, each at $427. Being aware of these valuation processes in Chester helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Chester Assessed Value
$38,480
Average Meigs County Assessed Value
$39,810
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Chester, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45720 | $4,900 | $32,225 | $38,480 | $65,640 | $93,752 |
Source: Ownwell
Property Tax Bills Across Chester, Ohio
In Chester, located in Meigs County, OH, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Chester is $38,480. Property taxes are determined by multiplying the assessed value by the local tax rate and considering any applicable exemptions. The median property tax rate in Chester is notably lower than the national median of 0.99%. Homeowners in Chester experience a range of property tax bills. For example, the 25th percentile tax bill is $175, while the 75th percentile tax bill is $674. At the higher end, the 90th percentile tax bill reaches $892. These variations impact homeowners differently depending on their property's assessed value and any qualifying exemptions. Understanding these factors can help homeowners anticipate their tax obligations more accurately and potentially seek ways to reduce their tax burden through appeals or exemptions.
Average Chester Tax Bill
$427
Average Meigs County Tax Bill
$451
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Chester, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45720 | $57 | $175 | $427 | $674 | $892 |
Source: Ownwell