Creston, Ohio Property Taxes
The median property tax rate in Creston, Ohio is 1.82%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Creston at $136,425, the typical annual property tax bill reaches $2,479, which is below the national median of $2,690. Property taxes in Creston 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 Creston'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 Creston or another part of Wayne County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Creston, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.82%
Estimate Property Tax Bill
$2,483
Ownwell’s Creston Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Creston with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Creston 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 Creston, Ohio
Property taxes in Creston, Ohio, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Creston is 1.82%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Creston set these rates annually, and they can vary significantly across different neighborhoods. Each year, Creston 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 Creston's effective property tax rate to other counties in Ohio and the national median. For comparison, the zip code 44217 has the highest median property tax rate of 1.82%, while the lowest median tax rate also stands at 1.82%. Understanding how these cities compare with Creston 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 Creston Tax Rate
1.82%
Average Wayne County Tax Rate
1.80%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Creston, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44217 | 1.31% | 1.69% | 1.82% | 2.04% | 2.09% |
Source: Ownwell
Property Tax Assessment Values Across Creston, Ohio
In Creston, 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 Wayne 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 Creston, 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. The median home price in Creston is $136,425, with tax bills ranging from $1,708 at the 25th percentile to $4,267 at the 90th percentile. Being aware of these valuation processes in Creston helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Creston Assessed Value
$136,425
Average Wayne County Assessed Value
$144,025
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Creston, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44217 | $49,062 | $94,592 | $136,425 | $192,435 | $274,697 |
Source: Ownwell
Property Tax Bills Across Creston, Ohio
Property tax bills in Creston, Wayne County, OH, are calculated based on the assessed value of a property, which is a percentage of its market value. The assessed value is then multiplied by the local tax rate to determine the tax bill. Homeowners in Creston can expect their property tax bills to vary significantly depending on their property's assessed value and the specific tax rate applied by local authorities. Several factors influence the assessed value, including the property's location, size, and condition. For instance, the median home price in Creston is $136,425. Property tax bills in this area range from $1,708 at the 25th percentile to $4,267 at the 90th percentile, indicating a wide variation based on property characteristics. Compared to the national median property tax rate of 0.99%, Creston's property tax rates can have a substantial impact on homeowners' annual expenses. Higher property taxes can affect a homeowner's budget and overall cost of living, making it essential for potential buyers to consider these costs when purchasing a home.
Average Creston Tax Bill
$2,479
Average Wayne County Tax Bill
$2,548
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Creston, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44217 | $862 | $1,708 | $2,479 | $3,412 | $4,267 |
Source: Ownwell