Chillicothe, Ohio Property Taxes
The median property tax rate in Chillicothe, OH is 1.37%, 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 $44,795 in Chillicothe, the typical annual property tax bill is $611, significantly below the national median of $2,690. Property taxes in Chillicothe are calculated based on the tax assessed value, which is generally lower than the market value due to exemptions like the primary residence exemption. Understanding Chillicothe's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Chillicothe or another part of Pike County, 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
1.37%
Estimate Property Tax Bill
$614
$569
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, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Chillicothe is 1.37%, significantly higher than 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 1.37%, while the same zip code also has the lowest median tax rate of 1.37%. Understanding how these cities compare with Chillicothe provides valuable insights into the varying tax landscape across Pike County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Chillicothe Tax Rate
1.37%
Average Pike County Tax Rate
1.23%
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 | 0.97% | 1.35% | 1.37% | 1.38% | 1.43% |
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 local 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 median tax bill in the area is $611 in the 45601 zip code, which also has the lowest median tax bill.
Average Chillicothe Assessed Value
$44,795
Average Pike County Assessed Value
$47,540
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 | $4,968 | $19,925 | $44,795 | $108,352 | $152,507 |
Source: Ownwell
Property Tax Bills Across Chillicothe, Ohio
In Chillicothe, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is a percentage of the property's market value. For instance, if the median home price is $44,795, the assessed value will be a fraction of this amount. The property tax rate in the area is then applied to the assessed value to determine the annual tax bill. Factors that influence the tax bill include the property's location, size, and any applicable exemptions or abatements. Homeowners in Chillicothe can expect a range of tax bills, with the 25th percentile at $258 and the 75th percentile at $1,254. For those in the 90th percentile, tax bills can reach up to $2,106. Compared to the national median property tax rate of 0.99%, Chillicothe's tax bills are relatively modest, but they still represent a significant expense for homeowners. Understanding these factors can help residents better anticipate and manage their property tax obligations.
Average Chillicothe Tax Bill
$611
Average Pike County Tax Bill
$512
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 | $66 | $258 | $611 | $1,254 | $2,106 |
Source: Ownwell