Marshallville, Ohio Property Taxes
The median property tax rate in Marshallville, Ohio is 1.81%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Marshallville, the typical annual property tax bill reaches $2,992, exceeding the national median of $2,690. Property taxes in Marshallville 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 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, understanding 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
$2,500,000
$5,000,000
Average Tax Rate
1.8%
Estimate Property Tax Bill
$3,600
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 in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Marshallville is 1.81%, significantly higher than both the Ohio state median of 1.36% 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 counties in Ohio and the national median. For comparison, the 44645 zip code has the highest median property tax rate of 1.81%, while the same 44645 zip code also has the lowest median tax rate of 1.81%. Understanding how these cities 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
1.81%
Average Wayne County Tax Rate
1.80%
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 | 0.91% | 1.61% | 1.81% | 2.17% | 2.23% |
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 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 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. Being aware of these valuation processes in Marshallville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in the area is $170,340. Interestingly, the zip code 44645 has the highest and lowest median tax bill at $2,992. By understanding these factors, property owners can take proactive steps to manage their property tax obligations effectively.
Average Marshallville Assessed Value
$170,340
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 Marshallville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44645 | $75,718 | $114,940 | $170,340 | $251,640 | $389,208 |
Source: Ownwell
Property Tax Bills Across Marshallville, Ohio
In Marshallville, property tax bills are calculated based on the assessed value of your home, which is determined by the local tax assessor. This value is a percentage of the market value of your property. For instance, if the median home price in Marshallville is $170,340, the assessed value would be a fraction of this amount. The property tax rate in Wayne County is then applied to this assessed value to determine your annual tax bill. Several factors influence the final tax bill, including property location, local government budgets, and specific levies for schools or infrastructure. Homeowners in Marshallville can expect tax bills to vary significantly. For example, the 25th percentile tax bill is around $2,123, while the 75th percentile tax bill reaches $4,106. At the higher end, the 90th percentile tax bill is approximately $5,256. These taxes fund essential services like education, public safety, and road maintenance, directly impacting the quality of life in the community.
Average Marshallville Tax Bill
$2,992
Average Wayne County Tax Bill
$2,548
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 | $1,375 | $2,123 | $2,992 | $4,106 | $5,256 |
Source: Ownwell