Syracuse, Ohio Property Taxes
The median property tax rate in Syracuse, Ohio is 1.35%, which is higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With a median home value of $53,705 in Syracuse, the typical annual property tax bill amounts to $657, which is significantly below the national median of $2,690. Property taxes in Syracuse are determined based on the tax assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Gaining a thorough understanding of Syracuse's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're residing in Syracuse or investing in real estate there, familiarizing yourself with the local property tax system is crucial for maximizing financial benefits.
Last Updated June 14, 2024
Syracuse, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.35%
Estimate Property Tax Bill
$725
$673
Ownwell’s Syracuse Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Syracuse with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Syracuse to provide an estimate of 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 Syracuse, Ohio
Property taxes in Syracuse, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Syracuse is 1.35%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Syracuse set these rates annually, and they can vary significantly across different neighborhoods. Each year, Syracuse 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 Syracuse's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45779 zip code has both the highest and lowest median property tax rate of 1.35%. Understanding how these cities compare with Syracuse 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 Syracuse Tax Rate
1.35%
Average Meigs County Tax Rate
1.16%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Syracuse, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45779 | 0.95% | 1.34% | 1.35% | 1.38% | 1.41% |
Source: Ownwell
Property Tax Assessment Values Across Syracuse, Ohio
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Syracuse, Ohio. 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 Syracuse, 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 Syracuse 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 45779, with a median tax bill of $657, while the same zip code also has the lowest median tax bill, reflecting the variability in property values and exemptions.
Average Syracuse Assessed Value
$53,705
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 Syracuse, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45779 | $8,268 | $15,992 | $53,705 | $90,755 | $123,400 |
Source: Ownwell
Property Tax Bills Across Syracuse, Ohio
In Syracuse, Ohio, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is typically a percentage of the property's market value, which is evaluated periodically. For instance, with a median home price of $53,705 in Syracuse, the tax bill can vary significantly. Factors such as property location, improvements, and market conditions influence the assessed value, thereby affecting the tax bill. Homeowners in Syracuse experience a wide range in property tax bills. The 25th percentile tax bill is $215, while the 75th percentile reaches up to $1,167, and the 90th percentile can be as high as $1,636. These variations reflect differences in property values and local tax rates within Meigs County. Compared to the national median property tax rate of 0.99%, these figures illustrate the local economic landscape's impact on homeowners. Understanding these factors can help homeowners anticipate their property tax liabilities and plan accordingly.
Average Syracuse Tax Bill
$657
Average Meigs County Tax Bill
$451
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Syracuse, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45779 | $116 | $215 | $657 | $1,167 | $1,636 |
Source: Ownwell