Mc Arthur, Ohio Property Taxes
The median property tax rate in McArthur, Ohio is 1.30%, which is higher than the national median of 0.99% but lower than Ohio's state median of 1.80%. With a median home value of $58,550, the typical annual property tax bill in McArthur is $646, significantly below the national median of $2,690. Property taxes in McArthur are based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Gaining a thorough understanding of McArthur's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in substantial annual savings. Whether you reside in McArthur or another part of Vinton County, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mc Arthur, Ohio Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.8%
Estimate Property Tax Bill
$3,600
Ownwell’s Mc Arthur Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mc Arthur with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mc Arthur 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 Mc Arthur, Ohio
Property taxes in McArthur, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in McArthur is 1.30%, significantly higher than the U.S. national median of 0.99%. Local government entities within McArthur set these rates annually, and they can vary significantly across different neighborhoods. Each year, McArthur 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 McArthur's effective property tax rate to other regions in Ohio and the national median. For comparison, the zip code 45651 has the highest median property tax rate of 1.30%, while the same zip code also has the lowest median tax rate of 1.30%. Understanding how these areas compare with McArthur provides valuable insights into the varying tax landscape across Vinton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mc Arthur Tax Rate
1.30%
Average Vinton County Tax Rate
1.27%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mc Arthur, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45651 | 0.63% | 0.69% | 1.30% | 1.77% | 2.46% |
Source: Ownwell
Property Tax Assessment Values Across Mc Arthur, Ohio
In Mc Arthur, 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 Vinton County Auditor 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 Mc Arthur, 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 Mc Arthur helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Mc Arthur is $58,550, with the highest and lowest median tax bills both being $646 in the 45651 zip code.
Average Mc Arthur Assessed Value
$58,550
Average Vinton County Assessed Value
$50,680
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mc Arthur, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45651 | $5,250 | $19,312 | $58,550 | $99,418 | $151,346 |
Source: Ownwell
Property Tax Bills Across Mc Arthur, Ohio
Property tax bills in McArthur, located in Vinton County, OH, are calculated based on the assessed value of a property. The assessed value is determined by the county assessor and is a percentage of the property's market value. Several factors influence this assessed value, including the property's location, size, and condition. Homeowners in McArthur can expect varying property tax bills depending on these assessed values. For instance, the median home price in McArthur is $58,550. Property tax bills can range significantly, with the 25th percentile at $203 and the 75th percentile reaching $1,385. At the higher end, the 90th percentile tax bill is $2,401. These property tax bills are essential for funding local services such as schools, emergency services, and infrastructure. While McArthur's property tax rates may seem modest compared to the national median property tax rate of 0.99%, they still represent a crucial financial consideration for homeowners, impacting their overall cost of living and financial planning.
Average Mc Arthur Tax Bill
$646
Average Vinton County Tax Bill
$541
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Mc Arthur, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45651 | $62 | $203 | $646 | $1,385 | $2,401 |
Source: Ownwell