Fulton, Ohio Property Taxes
The median property tax rate in Fulton, Ohio is 1.63%, which is considerably higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With a median home value of $70,950 in Fulton, the typical annual property tax bill amounts to $1,111, which is below the national median of $2,690. Property taxes in Fulton 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 Fulton'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 Fulton 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
Fulton, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.63%
Estimate Property Tax Bill
$1,156
$1,073
Ownwell’s Fulton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fulton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fulton 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 Fulton, Ohio
Property taxes in Fulton, Ohio, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fulton is 1.63%, significantly higher than both the Ohio state median of 1.36% and the U.S. national median of 0.99%. Local government entities within Fulton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fulton 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 Fulton's effective property tax rate to other counties in Ohio and the national median. For comparison, the 43321 zip code has the highest median property tax rate of 1.63%, while the same zip code also has the lowest median tax rate of 1.63%. Understanding how these cities compare with Fulton 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 Fulton Tax Rate
1.63%
Average Morrow County Tax Rate
1.58%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fulton, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43321 | 1.25% | 1.62% | 1.63% | 1.70% | 1.91% |
Source: Ownwell
Property Tax Assessment Values Across Fulton, Ohio
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Fulton, Ohio. 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 Fulton 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 Fulton, 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. For instance, the median home price in Fulton is $70,950, with tax bills ranging from $270 at the 25th percentile to $2,398 at the 90th percentile. The highest median tax bill in the area, found in zip code 43321, is $1,111. 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 Fulton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Fulton Assessed Value
$70,950
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 Fulton, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43321 | $5,400 | $12,375 | $70,950 | $110,375 | $148,000 |
Source: Ownwell
Property Tax Bills Across Fulton, Ohio
Property tax bills in Fulton, Ohio, are calculated based on the assessed value of your property, which is determined by the county assessor. The assessed value is a percentage of the market value of your home. Once the assessed value is established, the local tax rate is applied to this amount to calculate your annual property tax bill. In Fulton, the median home price is $70,950, and property tax bills can vary significantly. For instance, homeowners in the 25th percentile pay around $270 annually, while those in the 75th percentile face bills of approximately $1,807. At the 90th percentile, property tax bills can reach up to $2,398. These variations depend on several factors, including property location, improvements, and local tax levies. Compared to the national median property tax rate of 0.99%, Fulton's tax rates can have a substantial impact on homeowners, influencing their financial planning and overall cost of homeownership.
Average Fulton Tax Bill
$1,111
Average Morrow County Tax Bill
$1,602
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Fulton, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43321 | $117 | $270 | $1,111 | $1,807 | $2,398 |
Source: Ownwell