Maria Stein, Mercer County, Ohio Property Taxes
The median property tax rate in Maria Stein, OH is 1.42%, which is considerably higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With the median home value in Maria Stein at $212,300, the typical annual property tax bill reaches $3,018, surpassing the national median of $2,690. Property taxes in Maria Stein 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 Maria Stein'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 Maria Stein 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
Maria Stein, Mercer County, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.42%
Estimate Property Tax Bill
$3,015
$2,798
Ownwell’s Maria Stein Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Maria Stein with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Maria Stein 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 Maria Stein, Mercer County, Ohio
Property taxes in Maria Stein, Ohio, play a crucial role in financing essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Maria Stein is 1.42%, which is significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Maria Stein set these rates annually, and they can vary significantly across different neighborhoods. Each year, Maria Stein 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 Maria Stein's effective property tax rate to other areas in Mercer County and the national median. For comparison, the 45860 zip code has the highest median property tax rate of 1.42%, while the lowest median tax rate within the same zip code is also 1.42%. Understanding how these areas compare with Maria Stein 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 Maria Stein Tax Rate
1.42%
Average Mercer County Tax Rate
1.53%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Maria Stein, Mercer County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45860 | 1.40% | 1.40% | 1.42% | 1.43% | 1.46% |
Source: Ownwell
Property Tax Assessment Values Across Maria Stein, Mercer County, Ohio
In Maria Stein, 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 Maria Stein, 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. The median home price in Maria Stein is $212,300, with tax bills ranging from $2,242 at the 25th percentile to $5,679 at the 90th percentile. 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 Maria Stein helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Maria Stein, Mercer County, Ohio
Source: Ownwell
$75,700
$158,050
$240,400
Average Maria Stein Assessed Value
$212,300
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 Maria Stein, Mercer County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45860 | $113,900 | $159,000 | $212,300 | $294,900 | $395,540 |
Source: Ownwell
Property Tax Bills Across Maria Stein, Mercer County, Ohio
In Maria Stein, Mercer County, OH, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value typically represents a percentage of the property's market value. Homeowners in Maria Stein can expect property tax bills to vary significantly. For instance, the tax bill at the 25th percentile is around $2,242, while at the 75th percentile, it reaches approximately $4,195. The 90th percentile sees tax bills as high as $5,679. These tax bills are influenced by various factors, including the property's assessed value, local tax rates, and any applicable exemptions or deductions. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark for understanding local tax burdens. For homeowners, higher property tax bills can impact monthly budgets and long-term financial planning, making it crucial to understand how local assessments and rates affect their overall tax liability.
Average Maria Stein Tax Bill
$3,018
Average Mercer County Tax Bill
$1,932
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Maria Stein, Mercer County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45860 | $1,616 | $2,242 | $3,018 | $4,195 | $5,679 |
Source: Ownwell