Burkettsville, Ohio Property Taxes
The median property tax rate in Burkettsville, OH is 1.29%, higher than the national median of 0.99% but lower than Ohio's state median of 1.80%. With a median home value of $114,300 in Burkettsville, the typical annual property tax bill amounts to $1,449, which surpasses the national median of $2,690. Property taxes in Burkettsville are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Burkettsville'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 Burkettsville 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
Burkettsville, 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 Burkettsville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Burkettsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Burkettsville 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 Burkettsville, Ohio
Property taxes in Burkettsville, Ohio, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Burkettsville is 1.29%, higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Burkettsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Burkettsville 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 Burkettsville's effective property tax rate to other counties in Ohio and the national median. For comparison, the zip code 45310 has the highest median property tax rate of 1.29%, while the same zip code also has the lowest median tax rate of 1.29%. Understanding how these cities compare with Burkettsville provides valuable insights into the varying tax landscape across Mercer County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Burkettsville Tax Rate
1.29%
Average Mercer County Tax Rate
1.53%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Burkettsville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45310 | 1.07% | 1.29% | 1.29% | 1.32% | 1.33% |
Source: Ownwell
Property Tax Assessment Values Across Burkettsville, Ohio
In Burkettsville, 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 Mercer 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 Burkettsville, 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 Burkettsville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 45310, with a median tax bill of $1,449.
Average Burkettsville Assessed Value
$114,300
Average Mercer County Assessed Value
$129,600
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Burkettsville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45310 | $49,500 | $78,300 | $114,300 | $148,700 | $186,600 |
Source: Ownwell
Property Tax Bills Across Burkettsville, Ohio
In Burkettsville, Mercer County, OH, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. Homeowners in Burkettsville often see tax bills that vary significantly depending on their property's value and the local tax rate. For instance, the median home price in Burkettsville is $114,300, and tax bills range from $1,010 at the 25th percentile to $2,451 at the 90th percentile. Several factors influence these amounts, including the property's location, size, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, Burkettsville's tax rates can be relatively moderate but still impactful. High property taxes can affect homeowners by increasing their annual housing costs, while lower taxes can make homeownership more affordable, influencing both buying decisions and long-term financial planning.
Average Burkettsville Tax Bill
$1,449
Average Mercer County Tax Bill
$1,932
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Burkettsville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45310 | $663 | $1,010 | $1,449 | $1,823 | $2,451 |
Source: Ownwell