Flat Rock, Ohio Property Taxes
The median property tax rate in Flat Rock, Ohio is 1.63%, which is considerably higher than the national median of 0.99% but slightly below the Ohio state median of 1.80%. With the median home value in Flat Rock at $64,470, the typical annual property tax bill reaches $972, falling short of the national median of $2,690. Property taxes in Flat Rock are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Flat Rock'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 Flat Rock 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
Flat Rock, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.63%
Estimate Property Tax Bill
$1,051
Ownwell’s Flat Rock Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Flat Rock with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Flat Rock 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 Flat Rock, Ohio
Property taxes in Flat Rock, Ohio, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Flat Rock is 1.63%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Flat Rock set these rates annually, and they can vary across different neighborhoods. Each year, Flat Rock 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 Flat Rock's effective property tax rate to other counties in Ohio and the national median. For comparison, the 44828 zip code has both the highest and lowest median property tax rate of 1.63%. Understanding how these areas compare with Flat Rock provides valuable insights into the varying tax landscape across Seneca County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Flat Rock Tax Rate
1.63%
Average Seneca County Tax Rate
1.43%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Flat Rock, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44828 | 1.02% | 1.63% | 1.63% | 1.66% | 1.69% |
Source: Ownwell
Property Tax Assessment Values Across Flat Rock, Ohio
In Flat Rock, 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 Seneca 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 Flat Rock, 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 Flat Rock 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 $972.00 in the 44828 zip code, while the lowest median tax bill is also $972.00 in the same zip code.
Average Flat Rock Assessed Value
$64,470
Average Seneca County Assessed Value
$95,080
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Flat Rock, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44828 | $32,614 | $51,680 | $64,470 | $78,890 | $86,718 |
Source: Ownwell
Property Tax Bills Across Flat Rock, Ohio
In Flat Rock, property tax bills are determined by assessing the market value of a home and applying the local tax rate. The assessed value is multiplied by the tax rate to calculate the annual tax bill. For instance, with a median home price of $64,470 in Flat Rock, homeowners can expect varying tax bills depending on additional factors such as property size, location, and any applicable exemptions. The tax bill can range significantly, with the 25th percentile at $719 and the 75th percentile at $1,286, reflecting the diversity in property values and tax rates within the area. At the 90th percentile, tax bills can reach up to $1,400. These figures indicate that while some homeowners may pay below the national median property tax rate of 0.99%, others might find their tax burdens higher due to local variations. Understanding these factors is crucial for homeowners as it directly impacts their annual financial planning and overall affordability of their property.
Average Flat Rock Tax Bill
$972
Average Seneca County Tax Bill
$1,391
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Flat Rock, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44828 | $388 | $719 | $972 | $1,286 | $1,400 |
Source: Ownwell