Marshallville, Ohio Property Taxes
The median property tax rate in Marshallville, OH is 1.39%, which is notably higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With a median home value of $185,200, the typical annual property tax bill in Marshallville amounts to $2,562, slightly below the national median of $2,690. Property taxes in Marshallville are calculated based on the tax assessed value, which is generally lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Marshallville'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 Marshallville 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
Marshallville, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.39%
Estimate Property Tax Bill
$2,574
Ownwell’s Marshallville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Marshallville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Marshallville 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 Marshallville, Ohio
Property taxes in Marshallville, Ohio, are essential for funding critical local services, including public schools, road maintenance, and emergency services. The median tax rate in Marshallville is 1.39%, which is notably higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Marshallville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Marshallville 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 Marshallville's effective property tax rate to other areas in Ohio and the national median. For comparison, the zip code 44645 has the highest median property tax rate of 1.39%, while the lowest median tax rate is also 1.39% in the same zip code. Understanding how these areas compare with Marshallville provides valuable insights into the varying tax landscape across Wayne County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Marshallville Tax Rate
1.39%
Average Summit County Tax Rate
1.63%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Marshallville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44645 | 1.38% | 1.39% | 1.39% | 1.41% | 1.44% |
Source: Ownwell
Property Tax Assessment Values Across Marshallville, Ohio
In Marshallville, 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 Marshallville, 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. For instance, the highest median tax bill in the area is $2562 in the 44645 zip code. Being aware of these valuation processes in Marshallville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Marshallville Assessed Value
$185,200
Average Summit County Assessed Value
$168,880
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Marshallville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44645 | $147,410 | $165,110 | $185,200 | $227,790 | $255,118 |
Source: Ownwell
Property Tax Bills Across Marshallville, Ohio
In Marshallville, located in Summit County, OH, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. For instance, with a median home price of $185,200, homeowners can expect their tax bills to vary significantly. The 25th percentile tax bill is around $2,327, while those in the 75th percentile pay approximately $3,149. At the 90th percentile, the tax bill can reach up to $3,524. These figures are influenced by various factors including the home's location, its assessed value, and the local tax rate. Compared to the national median property tax rate of 0.99%, Marshallville's rates may seem higher, impacting homeowners by increasing their annual expenses. Understanding these components helps homeowners anticipate their financial responsibilities and plan accordingly.
Average Marshallville Tax Bill
$2,562
Average Summit County Tax Bill
$2,683
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Marshallville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44645 | $2,118 | $2,327 | $2,562 | $3,149 | $3,524 |
Source: Ownwell