Chillicothe, Ohio Property Taxes
The median property tax rate in Chillicothe, OH is 0.49%, notably lower than both the national median of 0.99% and the Ohio state median of 1.80%. With a median home value of $369,260 in Chillicothe, the typical annual property tax bill amounts to $1,822, which is significantly below the national median of $2,690. Property taxes in Chillicothe 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 Chillicothe'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 Chillicothe 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
Chillicothe, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.49%
Estimate Property Tax Bill
$1,809
Ownwell’s Chillicothe Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Chillicothe with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Chillicothe 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 Chillicothe, Ohio
Property taxes in Chillicothe, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Chillicothe is 0.49%, which is significantly lower than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Chillicothe set these rates annually, and they can vary across different neighborhoods. Each year, Chillicothe 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 Chillicothe's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45601 zip code has the highest median property tax rate of 0.49%, while the same zip code also has the lowest median tax rate of 0.49%. Understanding how these cities compare with Chillicothe provides valuable insights into the varying tax landscape across Pickaway County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Chillicothe Tax Rate
0.49%
Average Pickaway County Tax Rate
1.37%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Chillicothe, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45601 | 0.49% | 0.49% | 0.49% | 0.49% | 0.49% |
Source: Ownwell
Property Tax Assessment Values Across Chillicothe, Ohio
In Chillicothe, 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 Pickaway 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 Chillicothe, 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 Chillicothe helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in zip code 45601 are both $1,822, which is significantly lower than the national median property tax rate of 0.99%.
Average Chillicothe Assessed Value
$369,260
Average Pickaway County Assessed Value
$169,880
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Chillicothe, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45601 | $369,260 | $369,260 | $369,260 | $369,260 | $369,260 |
Source: Ownwell
Property Tax Bills Across Chillicothe, Ohio
Property tax bills in Chillicothe, located in Pickaway County, Ohio, are calculated based on the assessed value of a property. The assessed value is determined by the county assessor and typically represents a percentage of the property's market value. In Chillicothe, the median home price is $369,260, which serves as a benchmark for understanding property values in the area. The tax rate is then applied to the assessed value to determine the annual tax bill. For instance, homeowners in the 45601 zip code see a median property tax bill of $1,822, which is consistent across different percentiles, indicating a stable tax environment. This amount is relatively low compared to the national median property tax rate of 0.99%, making Chillicothe an attractive location for homeowners looking to manage their property tax expenses. Factors such as property improvements, location, and changes in market conditions can influence the assessed value, thereby affecting the tax bill. Understanding these elements helps homeowners anticipate and plan for their property tax obligations effectively.
Average Chillicothe Tax Bill
$1,822
Average Pickaway County Tax Bill
$2,168
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Chillicothe, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45601 | $1,822 | $1,822 | $1,822 | $1,822 | $1,822 |
Source: Ownwell