Graytown, Ohio Property Taxes
The median property tax rate in Graytown, OH is 1.45%, considerably higher than the national median of 0.99% but lower than Ohio's state median of 1.80%. With a median home value of $158,430 in Graytown, the typical annual property tax bill reaches $2,251, which is below the national median of $2,690. Property taxes in Graytown are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Graytown'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 Graytown or another part of Ottawa County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Graytown, Ohio Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.8%
Estimate Property Tax Bill
$3,600
Ownwell’s Graytown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Graytown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Graytown 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 Graytown, Ohio
Property taxes in Graytown, Ohio, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Graytown is 1.45%, which is significantly higher than the U.S. national median of 0.99%. Local government entities within Graytown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Graytown 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 Graytown's effective property tax rate to other counties in Ohio and the national median. For comparison, the zip code 43432 has both the highest and lowest median property tax rate of 1.45%. Understanding how these areas compare with Graytown provides valuable insights into the varying tax landscape across Ottawa County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Graytown Tax Rate
1.45%
Average Ottawa County Tax Rate
1.28%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Graytown, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43432 | 1.09% | 1.43% | 1.45% | 1.46% | 1.48% |
Source: Ownwell
Property Tax Assessment Values Across Graytown, Ohio
In Graytown, 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 Ottawa 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 Graytown, 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 Graytown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Graytown's median home price is $158,430, with tax bills ranging from $1,505 at the 25th percentile to $4,210 at the 90th percentile. The zip code 43432 holds both the highest and lowest median tax bill at $2,251.
Average Graytown Assessed Value
$158,430
Average Ottawa County Assessed Value
$131,980
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Graytown, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43432 | $56,020 | $114,898 | $158,430 | $231,008 | $333,240 |
Source: Ownwell
Property Tax Bills Across Graytown, Ohio
In Graytown, Ottawa County, OH, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Graytown is $158,430. The tax bill is determined by applying the local tax rate to the assessed value of the property. Factors such as property improvements and market conditions can influence the assessed value, thereby impacting the tax bill. Homeowners in Graytown typically see tax bills ranging from $1,505 at the 25th percentile to $4,210 at the 90th percentile. The median tax bill in the highest and lowest zip codes in Ottawa County is $2,251. Comparatively, with the national median property tax rate at 0.99%, Graytown's property taxes can be a significant expense for homeowners. Understanding these factors can help homeowners better anticipate their annual property tax obligations and plan their finances accordingly.
Average Graytown Tax Bill
$2,251
Average Ottawa County Tax Bill
$1,848
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Graytown, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43432 | $782 | $1,505 | $2,251 | $3,183 | $4,210 |
Source: Ownwell