Mount Sterling, Ohio Property Taxes
The median property tax rate in Mount Sterling, OH is 1.29%, which is higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With a median home value of $187,250, the typical annual property tax bill in Mount Sterling amounts to $1,931, falling below the national median of $2,690. Property taxes here are calculated based on the assessed value, which is often less than the market value due to exemptions like those for primary residences and agricultural properties. Understanding Mount Sterling'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 Mount Sterling or another part of Pickaway County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mount Sterling, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.29%
Estimate Property Tax Bill
$2,416
$2,242
Ownwell’s Mount Sterling Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mount Sterling with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mount Sterling 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 Mount Sterling, Ohio
Property taxes in Mount Sterling, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mount Sterling is 1.29%, which is significantly higher than the U.S. national median of 0.99%. Local government entities within Mount Sterling set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mount Sterling 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 Mount Sterling's effective property tax rate to other counties in Ohio and the national median. For comparison, the 43143 zip code has the highest median property tax rate of 1.29%, while the same zip code also records the lowest median tax rate of 1.29%. Understanding how these cities compare with Mount Sterling 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 Mount Sterling Tax Rate
1.29%
Average Pickaway County Tax Rate
1.37%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mount Sterling, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43143 | 0.38% | 0.86% | 1.29% | 1.32% | 1.39% |
Source: Ownwell
Property Tax Assessment Values Across Mount Sterling, Ohio
In Mount Sterling, 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 Mount Sterling, 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 example, the median home price in the area is $187,250, with tax bills ranging from $1,050 at the 25th percentile to $4,160 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Mount Sterling Assessed Value
$187,250
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 Mount Sterling, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43143 | $65,853 | $117,512 | $187,250 | $295,005 | $471,628 |
Source: Ownwell
Property Tax Bills Across Mount Sterling, Ohio
In Mount Sterling, located in Pickaway County, OH, property tax bills are determined based on the assessed value of a home and the local tax rate. The assessed value is a percentage of the market value of the property, and this figure is then multiplied by the local tax rate to calculate the annual tax bill. For example, with a median home price of $187,250, homeowners can expect varying tax bills depending on the specific assessment and rate applied. Several factors influence the final tax bill, including property location, home size, and any applicable exemptions. In Mount Sterling, the tax bill ranges significantly, with the 25th percentile at $1,050 and the 75th percentile at $3,154. The highest tax bill reaches up to $4,160, reflecting differences in property values and assessments. Compared to the national median property tax rate of 0.99%, Mount Sterling's tax rates can present a considerable financial impact on homeowners, influencing their overall cost of living and financial planning.
Average Mount Sterling Tax Bill
$1,931
Average Pickaway County Tax Bill
$2,168
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Mount Sterling, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43143 | $477 | $1,050 | $1,931 | $3,154 | $4,160 |
Source: Ownwell