Thornville, Ohio Property Taxes
The median property tax rate in Thornville, OH is 1.70%, notably higher than the national median of 0.99% but slightly below the Ohio state median of 1.80%. With the median home value in Thornville at $141,640, the typical annual property tax bill is $2,382, which is below the national median of $2,690. Property taxes in Thornville 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 Thornville'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 Thornville or another part of Perry County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Thornville, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.7%
Estimate Property Tax Bill
$2,408
$2,234
Ownwell’s Thornville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Thornville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Thornville 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 Thornville, Ohio
Property taxes in Thornville, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Thornville is 1.70%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Thornville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Thornville 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 Thornville's effective property tax rate to other counties in Ohio and the national median. For comparison, the 43076 zip code has the highest median property tax rate of 1.70%, while the same zip code also has the lowest median tax rate of 1.70%. Understanding how these cities compare with Thornville provides valuable insights into the varying tax landscape across Perry County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Thornville Tax Rate
1.70%
Average Perry County Tax Rate
1.48%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Thornville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43076 | 1.50% | 1.69% | 1.70% | 1.72% | 1.97% |
Source: Ownwell
Property Tax Assessment Values Across Thornville, Ohio
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Thornville, 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 Perry County Auditor 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 Thornville, 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. The median home price in Thornville is $141,640, with tax bills ranging from $1,306 at the 25th percentile to $5,877 at the 90th percentile. 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 Thornville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Thornville Assessed Value
$141,640
Average Perry County Assessed Value
$71,105
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Thornville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43076 | $17,755 | $79,168 | $141,640 | $231,442 | $341,469 |
Source: Ownwell
Property Tax Bills Across Thornville, Ohio
In Thornville, located in Perry County, OH, property tax bills are calculated based on the assessed value of the property. This assessed value is a percentage of the property's market value, which is determined by the county assessor. The tax rate is then applied to this assessed value to calculate the annual property tax bill. Several factors influence the tax bill, including the property's location, size, and any improvements made. Homeowners in Thornville can expect to pay a median tax bill of around $2,382. However, there is a significant range, with the 25th percentile tax bill at $1,306 and the 75th percentile reaching $3,966. For those at the higher end, the 90th percentile tax bill can be as much as $5,877. These property taxes fund essential local services such as schools, public safety, and infrastructure maintenance. While the median property tax rate in Thornville is relatively close to the national median of 0.99%, the exact amount a homeowner pays can vary widely based on the specific characteristics of their property.
Average Thornville Tax Bill
$2,382
Average Perry County Tax Bill
$1,003
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Thornville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43076 | $297 | $1,306 | $2,382 | $3,966 | $5,877 |
Source: Ownwell