Gypsum, Ohio Property Taxes
The median property tax rate in Gypsum, Ohio is 1.29%, which is higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With the median home value in Gypsum at $72,520, the typical annual property tax bill reaches $875, which is significantly below the national median of $2,690. Property taxes in Gypsum 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 Gypsum'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 Gypsum 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
Gypsum, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.29%
Estimate Property Tax Bill
$936
$868
Ownwell’s Gypsum Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gypsum with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gypsum 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 Gypsum, Ohio
Property taxes in Gypsum, Ohio, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Gypsum is 1.29%, which is significantly higher than the U.S. national median of 0.99%. Local government entities within Gypsum set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gypsum 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 Gypsum's effective property tax rate to other regions in Ohio and the national median. For comparison, the highest median property tax rate in the area is also 1.29%, found in the zip code 43433, while the lowest is the same rate of 1.29% in the same zip code. Understanding how these areas compare with Gypsum 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 Gypsum Tax Rate
1.29%
Average Ottawa County Tax Rate
1.28%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gypsum, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43433 | 0.82% | 1.26% | 1.29% | 1.31% | 1.37% |
Source: Ownwell
Property Tax Assessment Values Across Gypsum, Ohio
In Gypsum, 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 Gypsum, 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 Gypsum helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Gypsum are both $875.00, found in the 43433 zip code.
Average Gypsum Assessed Value
$72,520
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 Gypsum, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43433 | $11,086 | $50,550 | $72,520 | $84,690 | $116,468 |
Source: Ownwell
Property Tax Bills Across Gypsum, Ohio
In Gypsum, located in Ottawa County, OH, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The median home price in Gypsum is $72,520. Property taxes are determined by applying the local tax rate to this assessed value. For homeowners in Gypsum, the tax bills can vary significantly. At the 25th percentile, the tax bill is around $568, while at the 75th percentile, it rises to $1,064, and at the 90th percentile, it can reach up to $1,553. The highest and lowest median tax bills both stand at $875 in the zip code 43433. These tax rates and the resulting bills can have a substantial impact on homeowners, influencing their overall housing costs and financial planning. Compared to the national median property tax rate of 0.99%, Gypsum homeowners may find their tax rates relatively manageable, but still a significant consideration in their annual budgeting.
Average Gypsum Tax Bill
$875
Average Ottawa County Tax Bill
$1,848
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Gypsum, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43433 | $185 | $568 | $875 | $1,064 | $1,553 |
Source: Ownwell