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Thursday, November 21, 2024

Analysis: Knox County effective property tax rates were lower than the national average in Q2

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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 0.8% of the value of their homes in property taxes in the second quarter of 2024, which is less than 0.7 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 second quarter of 2024 was $225,000, based on data from the 102 properties sold during that time. In 2024, the median tax bill for the county was $1,800, which is 0.8% of the median value of the homes that were taxed.

This is 0.7 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 Gambier, Fredericktown, and Apple Valley paid the highest rates.

The above article calculates the effective property tax rate for 2024 using estimated inflation values and 2023 tax data provided by the county. In some cases, the actual effective property tax rate may vary slightly.

The following table compares Gambier with some other cities belonging to Knox County by their median effective property tax rate, calculated using sales and property tax data from the second quarter of 2024.

CityQ2 2024 SalesQ2 2024 Median PriceMedian tax 2024Effective tax rate
Gambier3$200,000$3,3171.7%
Fredericktown10$190,025$1,6290.9%
Apple Valley25$301,000$2,8390.9%
Mount Vernon51$220,000$1,5000.7%
Centerburg5$340,000$2,3580.7%
Danville3$183,900$1,0510.6%

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