Fredericktown, Ohio Property Taxes
The median property tax rate in Fredericktown, OH is 1.61%, notably higher than the national median of 0.99% but below the Ohio state median of 1.80%. With the median home value in Fredericktown at $121,950, the typical annual property tax bill amounts to $1,946, which is lower than the national median of $2,690. Property taxes in Fredericktown are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Fredericktown'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 Fredericktown or another part of Morrow County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Fredericktown, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.61%
Estimate Property Tax Bill
$1,963
$1,822
Ownwell’s Fredericktown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fredericktown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fredericktown 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 Fredericktown, Ohio
Property taxes in Fredericktown, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fredericktown is 1.61%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Fredericktown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fredericktown 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 Fredericktown's effective property tax rate to other counties in Ohio and the national median. For comparison, the 43019 zip code has the highest median property tax rate of 1.61%, while the same zip code also has the lowest median tax rate of 1.61%. Understanding how these areas compare with Fredericktown provides valuable insights into the varying tax landscape across Morrow County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fredericktown Tax Rate
1.61%
Average Morrow County Tax Rate
1.58%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fredericktown, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43019 | 1.33% | 1.51% | 1.61% | 1.64% | 1.71% |
Source: Ownwell
Property Tax Assessment Values Across Fredericktown, Ohio
In Fredericktown, 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 Morrow 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 Fredericktown, 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 Fredericktown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Fredericktown is $121,950, with tax bills ranging from $789 at the 25th percentile to $3,946 at the 90th percentile. The highest and lowest median tax bills are both $1,946 in the 43019 zip code.
Average Fredericktown Assessed Value
$121,950
Average Morrow County Assessed Value
$98,100
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fredericktown, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43019 | $15,040 | $43,925 | $121,950 | $181,425 | $247,480 |
Source: Ownwell
Property Tax Bills Across Fredericktown, Ohio
In Fredericktown, Ohio, 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. For instance, the median home price in Fredericktown is $121,950. Property taxes in this area can vary significantly, with the 25th percentile tax bill at $789 and the 75th percentile reaching $2,811. Several factors influence the final tax bill, including the home's market value, assessment ratio, and the local tax rate. Homeowners in Fredericktown might find their tax bills significantly different from the national median property tax rate of 0.99%, depending on these variables. High property taxes can impact homeowners by increasing their monthly housing costs, which might influence decisions about buying or selling property. Conversely, lower taxes can make homeownership more affordable, potentially boosting the local real estate market. Understanding these factors can help homeowners better anticipate their annual property tax obligations.
Average Fredericktown Tax Bill
$1,946
Average Morrow County Tax Bill
$1,602
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Fredericktown, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43019 | $300 | $789 | $1,946 | $2,811 | $3,946 |
Source: Ownwell