Elida, Ohio Property Taxes
The median property tax rate in Elida, OH is 1.75%, which is considerably higher than the national median of 0.99% but slightly below the Ohio state median of 1.80%. With a median home value of $97,300 in Elida, the typical annual property tax bill amounts to $1,603, lower than the national median of $2,690. Property taxes in Elida are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Elida'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 Elida 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
Elida, 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 Elida Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Elida with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Elida 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 Elida, Ohio
Property taxes in Elida, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Elida is 1.75%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Elida set these rates annually, and they can vary significantly across different neighborhoods. Each year, Elida 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 Elida's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45807 zip code has the highest median property tax rate of 1.75%, while the same zip code also has the lowest median tax rate of 1.75%. Understanding how these cities compare with Elida provides valuable insights into the varying tax landscape across Allen County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Elida Tax Rate
1.75%
Average Allen County Tax Rate
1.57%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Elida, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45807 | 1.28% | 1.43% | 1.75% | 1.79% | 1.79% |
Source: Ownwell
Property Tax Assessment Values Across Elida, Ohio
In Elida, 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 Allen 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 Elida, 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. For instance, Elida’s median home price is $97,300, with tax bills ranging from $1,244 at the 25th percentile to $2,553 at the 90th percentile. The highest and lowest median tax bills are both $1,603 in the 45807 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Elida Assessed Value
$97,300
Average Allen County Assessed Value
$103,100
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Elida, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45807 | $65,500 | $75,900 | $97,300 | $131,700 | $149,100 |
Source: Ownwell
Property Tax Bills Across Elida, Ohio
In Elida, located in Allen County, OH, property tax bills are calculated based on the assessed value of the home and the local tax rate. The assessed value is determined by the county assessor and is typically a percentage of the property's market value. For instance, with a median home price of $97,300, the property tax bill can vary significantly. The tax bill at the 25th percentile is approximately $1,244, while at the 75th percentile, it rises to about $2,055. At the 90th percentile, homeowners might see a tax bill as high as $2,553. These variations are influenced by factors such as property size, location, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, homeowners in Elida might experience a range of tax burdens. Understanding these factors can help homeowners anticipate their annual property tax obligations and plan accordingly.
Average Elida Tax Bill
$1,603
Average Allen County Tax Bill
$1,550
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Elida, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45807 | $834 | $1,244 | $1,603 | $2,055 | $2,553 |
Source: Ownwell