Spencerville, Mercer County, Ohio Property Taxes

Name: Property Tax Bills Across Spencerville, Mercer County, Ohio
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Spencerville, OH effective property tax rate: 1.47%, significantly higher than the national median of 1.02%, but lower than the Ohio state median of 1.80%.
Median Spencerville, OH home value: $129,300
Median annual Spencerville, OH tax bill: $1,873, $527 lower than the national median property tax bill of $2,400.

How are property taxes in Mercer County calculated?

Property taxes in Spencerville, OH are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Spencerville’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Spencerville, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Spencerville, Mercer County, Ohio Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.47%

Estimate Property Tax Bill

$1,901

$1,764

Ownwell’s Spencerville Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Spencerville with just two data points. By entering your property's estimated assessed value, our calculator applies Spencerville’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Mercer County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Spencerville, Mercer County, Ohio

Local government entities are responsible for setting tax rates, which can fluctuate significantly within a state. This variation occurs because each county annually estimates the budget needed to provide public services and divides it by the total value of all taxable property in its jurisdiction. This calculation determines the property tax rate. While votes and laws play a role in setting these rates and budgets, this is essentially the annual process.

In Spencerville, located in Allen County, Ohio, the effective property tax rate can be compared to other cities within the state and the median property tax rates in both Ohio and the U.S. Ohio's median property tax rate stands at 1.47%, which is higher than the national median of 1.02%. Consequently, property owners in Spencerville may find themselves paying more in property taxes compared to the national average. Understanding these rates can help property owners make informed decisions about their investments and financial planning. By appealing property taxes or seeking exemptions, residents might find opportunities to reduce their tax burden.

Property Tax Rates Across Spencerville, Mercer County, Ohio

Source: Ownwell

1.18%

1.45%

1.73%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Spencerville Tax Rate

1.47%

Median Effective Mercer County Tax Rate

1.53%

Median Effective Ohio Tax Rate

1.80%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Spencerville, Mercer County, Ohio

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
45887	1.33%	1.44%	1.47%	1.50%	1.55%

Source: Ownwell

Property Tax Assessment Values Across Spencerville, Mercer County, Ohio

When examining property taxes in Spencerville, Ohio, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Mercer County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.

In Mercer County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Spencerville. For example, the median home price in Spencerville is $129,300, with tax bills ranging significantly across the county. Zip code 45887 has the highest median home price at $129,300.

Property Tax Assessment Values Across Spencerville, Mercer County, Ohio

Source: Ownwell

$75,700

$158,050

$240,400

Median Spencerville Market Value

$129,300

Median Mercer County Market Value

$129,600

Median Ohio Market Value

$133,400

Median United States Market Value

$235,294

Property Tax Assessment Values Across Spencerville, Mercer County, Ohio

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
45887	$26,900	$82,400	$129,300	$170,400	$266,200

Source: Ownwell

Property Tax Bills Across Spencerville, Mercer County, Ohio

In Spencerville, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. The median home price in Spencerville is $129,300, and property tax bills can vary significantly. For instance, the tax bill at the 25th percentile is $1,296, while at the 75th percentile, it rises to $2,410, with the 90th percentile reaching $3,916. Compared to the national median property tax bill of $2,400, Spencerville's tax bills are generally lower, but they can still pose a significant burden for homeowners. Various factors such as home improvements or changes in local tax rates can affect these bills. Ownwell offers valuable assistance by helping homeowners appeal their property tax assessments and potentially secure exemptions, which can lead to substantial savings. By leveraging expertise in local tax laws and procedures, Ownwell ensures homeowners are not overpaying on their property taxes.

Property Tax Bills Across Spencerville, Mercer County, Ohio

Source: Ownwell

$1,144

$2,277

$3,410

Median Spencerville Tax Bill

$1,873

Median Mercer County Tax Bill

$1,932

Median Ohio Tax Bill

$2,396

Median United States Tax Bill

$2,400

Property Tax Bills Across Spencerville, Mercer County, Ohio

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
45887	$418	$1,296	$1,873	$2,410	$3,916

Source: Ownwell