Yorkshire, Ohio Property Taxes
The median property tax rate in Yorkshire, OH is 0.92%, slightly below the national median of 0.99% and significantly lower than Ohio's state median of 1.80%. Given the median home value in Yorkshire, the typical annual property tax bill amounts to $4,265, which is notably higher than the national median of $2,690. Property taxes in Yorkshire are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Yorkshire'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 Yorkshire or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Yorkshire, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.92%
Estimate Property Tax Bill
$4,571
Ownwell’s Yorkshire Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Yorkshire with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Yorkshire 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 Yorkshire, Ohio
Property taxes in Yorkshire, Ohio, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Yorkshire is 1.25%, higher than both the Ohio state median of 1.36% and the U.S. national median of 0.99%. Local government entities within Yorkshire set these rates annually, and they can vary significantly across different neighborhoods. Each year, Yorkshire 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 Yorkshire's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45388 zip code has the highest median property tax rate of 1.25%, while the 45388 zip code also has the lowest median tax rate of 1.25%. Understanding how these cities compare with Yorkshire provides valuable insights into the varying tax landscape across Shelby County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Yorkshire Tax Rate
0.92%
Average Shelby County Tax Rate
1.56%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Yorkshire, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45388 | 0.74% | 0.77% | 0.92% | 1.14% | 1.28% |
Source: Ownwell
Property Tax Assessment Values Across Yorkshire, Ohio
In Yorkshire, 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 county 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 Yorkshire, 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 Yorkshire helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Yorkshire both stand at $4,265, located in the 45388 zip code. This consistency in tax bills provides a unique opportunity for residents to predict and manage their property tax expenses more effectively.
Average Yorkshire Assessed Value
$496,840
Average Shelby County Assessed Value
$119,350
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Yorkshire, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45388 | $337,745 | $394,648 | $496,840 | $577,562 | $595,819 |
Source: Ownwell
Property Tax Bills Across Yorkshire, Ohio
In Yorkshire, property tax bills are calculated based on the assessed value of a home, which is determined by the county's tax assessor. The median home price in Yorkshire is $496,840. Property tax rates are applied to this assessed value to determine the tax bill. Factors such as local government budgets, school funding needs, and infrastructure projects influence these rates. Homeowners in Yorkshire can expect tax bills that vary significantly based on their property's value. For instance, the 25th percentile tax bill is $3,928, while the 75th percentile tax bill reaches $4,798. Those in the 90th percentile face tax bills as high as $5,516. This range highlights the impact of property values on tax obligations. Comparatively, the national median property tax rate is 0.99%, making Yorkshire's rates relatively higher. These property taxes play a crucial role in funding essential community services, but they also add a significant financial consideration for homeowners.
Average Yorkshire Tax Bill
$4,265
Average Shelby County Tax Bill
$1,867
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Yorkshire, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45388 | $3,565 | $3,928 | $4,265 | $4,798 | $5,516 |
Source: Ownwell