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Saturday, November 23, 2024

Effective property tax rate in Knox County were lower than the national average in Q3 2023

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Knox County Recorder Tanner Salyers (2023) | Tanner Salyers, Knox County Recorder

Knox County Recorder Tanner Salyers (2023) | Tanner Salyers, Knox County Recorder

Property owners in Knox County paid 0.9% of the value of their homes in property taxes in the third quarter of 2023, which is less than 0.8 times the national average, according to the real estate analysis posted by Licking Today.

The median sales price of a Knox County home in the third quarter of 2023 was $187,000, based on data from the 108 properties sold during that time. In 2023, the median tax bill for the county was $1,748, which is 0.9% of the median value of the homes that were taxed.

This is 0.8 times lower than the average effective property tax rate of 1.11% in the U.S. in 2023.

The analysis of Knox County real estate data showed homeowners in Apple Valley paid the highest tax rate of 1%.

The following table compares Apple Valley with some other cities belonging to Knox County by their median effective property tax rate, calculated using sales and property tax data from the third quarter of 2023.

CityQ3 2023 SalesQ3 2023 Median PriceMedian tax 2023Effective tax rate
Apple Valley35$280,000$2,7561%
Mount Vernon50$174,950$1,4560.8%
Centerburg2$273,950$2,2900.8%
Fredericktown8$192,500$1,5810.8%
Danville3$150,000$1,0210.7%

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