Delaware, Ohio Property Taxes
The median property tax rate in Delaware, OH is 2.10%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Delaware, the typical annual property tax bill reaches $5,346, exceeding the national median of $2,690. Property taxes in Delaware are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Delaware'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 Delaware 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
Delaware, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.1%
Estimate Property Tax Bill
$6,373
$5,914
Ownwell’s Delaware Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Delaware with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Delaware 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 Delaware, Ohio
Property taxes in Delaware, Ohio, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Delaware is 2.10%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Delaware set these rates annually, and they can vary notably across different neighborhoods. Each year, Delaware 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 Delaware's effective property tax rate to other counties in Ohio and the national median. For comparison, the zip code 43015 has the highest median property tax rate of 2.10%, while the same zip code also has the lowest median tax rate of 2.10%. Understanding how these cities compare with Delaware provides valuable insights into the varying tax landscape across Union County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Delaware Tax Rate
2.10%
Average Union County Tax Rate
1.44%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Delaware, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43015 | 1.40% | 1.43% | 2.10% | 2.10% | 2.13% |
Source: Ownwell
Property Tax Assessment Values Across Delaware, Ohio
In Delaware, 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 Union 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 Delaware, 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 Delaware helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 43015 has both the highest and lowest median tax bill at $5,346, which is significantly above the national median property tax rate of 0.99%.
Average Delaware Assessed Value
$303,490
Average Union County Assessed Value
$249,955
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Delaware, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43015 | $211,865 | $242,758 | $303,490 | $428,980 | $518,470 |
Source: Ownwell
Property Tax Bills Across Delaware, Ohio
In Delaware, Ohio, property tax bills are determined by assessing the market value of a home and applying the local tax rate. The assessed value is typically a percentage of the market value, and the tax rate is determined by local government entities, including the county and school district. In Delaware, the median home price is $303,490. For homeowners, the tax bill can vary significantly depending on the value of their property and the specific tax rate applied. The tax bill at the 25th percentile is $4,567, while at the 75th percentile, it rises to $8,016. For those at the 90th percentile, the tax bill can reach up to $9,234. This variation highlights how property taxes can impact homeowners differently based on their home's value. The highest and lowest median tax bills in the area are both $5,346, all within the 43015 zip code. Compared to the national median property tax rate of 0.99%, Delaware's property tax rates can result in higher annual costs for homeowners, emphasizing the importance of understanding local tax assessments.
Average Delaware Tax Bill
$5,346
Average Union County Tax Bill
$3,900
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Delaware, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43015 | $3,813 | $4,567 | $5,346 | $8,016 | $9,234 |
Source: Ownwell