Piketon, Ohio Property Taxes
The median property tax rate in Piketon, OH is 1.39%, which is considerably higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With a median home value of $116,450 in Piketon, the typical annual property tax bill amounts to $1,724, falling below the national median of $2,690. Property taxes in Piketon are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Piketon'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 Piketon or another part of Scioto County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Piketon, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.39%
Estimate Property Tax Bill
$1,619
Ownwell’s Piketon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Piketon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Piketon 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 Piketon, Ohio
Property taxes in Piketon, Ohio, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Piketon is 1.39%, higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Piketon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Piketon 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 Piketon's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45661 zip code has the highest median property tax rate of 1.39%, while the 45661 zip code has the lowest median tax rate of 1.39%. Understanding how these cities compare with Piketon provides valuable insights into the varying tax landscape across Scioto County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Piketon Tax Rate
1.39%
Average Scioto County Tax Rate
1.59%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Piketon, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45661 | 1.18% | 1.26% | 1.39% | 1.53% | 1.61% |
Source: Ownwell
Property Tax Assessment Values Across Piketon, Ohio
In Piketon, 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 Scioto 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 Piketon, 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. The zip code with the highest median tax bill is 45661 at $1,724, which is also the lowest median tax bill. Being aware of these valuation processes in Piketon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Piketon Assessed Value
$116,450
Average Scioto County Assessed Value
$71,410
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Piketon, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45661 | $85,266 | $96,960 | $116,450 | $135,940 | $147,634 |
Source: Ownwell
Property Tax Bills Across Piketon, Ohio
In Piketon, located in Scioto County, OH, property tax bills are calculated based on the assessed value of a home, which is a percentage of the market value. The local tax rate is then applied to this assessed value to determine the annual property tax bill. For example, with a median home price of $116,450, the tax bills can vary significantly. Homeowners in the 25th percentile can expect to pay around $1,297 annually, while those in the 75th percentile might see bills closer to $2,152. At the higher end, the 90th percentile tax bill reaches approximately $2,408. These tax bills are influenced by several factors, including property location, market conditions, and local government budgets. Compared to the national median property tax rate of 0.99%, Piketon's rates reflect the specific economic and administrative circumstances of Scioto County. The property tax burden can impact homeowners by affecting their monthly mortgage payments and overall housing affordability, making it crucial for residents to understand how these taxes are determined.
Average Piketon Tax Bill
$1,724
Average Scioto County Tax Bill
$1,073
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Piketon, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45661 | $1,041 | $1,297 | $1,724 | $2,152 | $2,408 |
Source: Ownwell