Montezuma, Mercer County, Ohio Property Taxes
The median property tax rate in Montezuma, Ohio is 1.73%, which is significantly higher than the national median of 0.99% but slightly lower than the Ohio state median of 1.80%. With a median home value of $78,300 in Montezuma, the typical annual property tax bill amounts to $1,261, which is below the national median of $2,690. Property taxes in Montezuma are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Montezuma'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 Montezuma or another part of Mercer County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Montezuma, Mercer County, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.73%
Estimate Property Tax Bill
$1,355
$1,257
Ownwell’s Montezuma Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Montezuma with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Montezuma 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 Montezuma, Mercer County, Ohio
Property taxes in Montezuma, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Montezuma is 1.73%, significantly higher than the U.S. national median of 0.99%. Local government entities within Montezuma set these rates annually, and they can vary significantly across different neighborhoods. Each year, Montezuma 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 Montezuma's effective property tax rate to other counties in Ohio and the national median. For comparison, the zip code 45866 has the highest median property tax rate of 1.73%, while the same zip code also has the lowest median tax rate of 1.73%. Understanding how these cities compare with Montezuma 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 Montezuma Tax Rate
1.73%
Average Mercer County Tax Rate
1.53%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Montezuma, Mercer County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45866 | 1.29% | 1.67% | 1.73% | 1.80% | 2.15% |
Source: Ownwell
Property Tax Assessment Values Across Montezuma, Mercer County, Ohio
In Montezuma, 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 Auditor 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 Montezuma, 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 Montezuma helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Montezuma is $78,300, with tax bills ranging from $768 at the 25th percentile to $2,509 at the 90th percentile. The zip code 45866 has both the highest and lowest median tax bills, each at $1,261.
Property Tax Assessment Values Across Montezuma, Mercer County, Ohio
Source: Ownwell
$75,700
$158,050
$240,400
Average Montezuma Assessed Value
$78,300
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 Montezuma, Mercer County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45866 | $10,620 | $44,900 | $78,300 | $111,200 | $150,480 |
Source: Ownwell
Property Tax Bills Across Montezuma, Mercer County, Ohio
In Montezuma, OH, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. For instance, with a median home price of $78,300, the assessed value becomes the foundation for determining the tax bill. Local tax rates are then applied to this assessed value. Factors such as property location within Mercer County and specific tax levies also play crucial roles in the final calculation. Homeowners in Montezuma can expect their tax bills to vary significantly. The 25th percentile tax bill is around $768, while the 75th percentile reaches $1,933, and the 90th percentile can be as high as $2,509. These figures indicate a wide range in property tax obligations, influenced by property values and local tax rates. Compared to the national median property tax rate of 0.99%, Montezuma's rates reflect the specific economic and administrative conditions of the area, impacting the financial responsibilities of its homeowners.
Average Montezuma Tax Bill
$1,261
Average Mercer County Tax Bill
$1,932
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Montezuma, Mercer County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45866 | $263 | $768 | $1,261 | $1,933 | $2,509 |
Source: Ownwell