Casstown, Ohio Property Taxes
The median property tax rate in Casstown, OH is 1.17%, slightly higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With a median home value of $202,100 in Casstown, the typical annual property tax bill is approximately $2,258, which is below the national median of $2,690. Property taxes in Casstown are based on the tax assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Casstown's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're residing in the heart of Casstown or another part of Miami County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Casstown, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.17%
Estimate Property Tax Bill
$2,365
$2,194
Ownwell’s Casstown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Casstown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Casstown 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 Casstown, Ohio
Property taxes in Casstown, Ohio, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Casstown is 1.17%, higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Casstown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Casstown 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 Casstown's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45312 zip code has the highest median property tax rate of 1.17%, while the 45312 zip code also has the lowest median tax rate of 1.17%. Understanding how these cities compare with Casstown provides valuable insights into the varying tax landscape across Miami County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Casstown Tax Rate
1.17%
Average Miami County Tax Rate
1.33%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Casstown, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45312 | 0.88% | 0.99% | 1.17% | 1.24% | 1.67% |
Source: Ownwell
Property Tax Assessment Values Across Casstown, Ohio
In Casstown, 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 Miami 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 Casstown, 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. The median home price in Casstown is $202,100, with tax bills ranging from $1,515 at the 25th percentile to $4,142 at the 90th percentile. The zip code 45312 has the highest and lowest median tax bill at $2,258. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Casstown Assessed Value
$202,100
Average Miami County Assessed Value
$159,300
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Casstown, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45312 | $73,710 | $107,800 | $202,100 | $293,375 | $397,910 |
Source: Ownwell
Property Tax Bills Across Casstown, Ohio
In Casstown, located in Miami County, OH, property tax bills are calculated based on the assessed value of a property. The median home price in the area is $202,100, and the property tax rate is applied to this assessed value to determine the annual tax bill. Factors such as the property's location, size, and any applicable exemptions also play a role in the final calculation. For homeowners, this means that the tax bill can vary significantly. For instance, the 25th percentile tax bill is $1,515, while the 75th percentile tax bill is $3,128, and the 90th percentile tax bill reaches up to $4,142. The highest and lowest median tax bills in Casstown are both $2,258, indicating a consistent tax environment within the zip code 45312. Compared to the national median property tax rate of 0.99%, Casstown's rates can be seen as competitive, making it essential for homeowners to understand how these factors influence their annual financial obligations.
Average Casstown Tax Bill
$2,258
Average Miami County Tax Bill
$2,118
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Casstown, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45312 | $959 | $1,515 | $2,258 | $3,128 | $4,142 |
Source: Ownwell