Fort Jennings, Ohio Property Taxes
The median property tax rate in Fort Jennings, OH is 1.58%, notably higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With a median home value of $159,050 in Fort Jennings, the typical annual property tax bill is approximately $2,395, which is below the national median of $2,690. Property taxes in Fort Jennings are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Fort Jennings' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Fort Jennings 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
Fort Jennings, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.58%
Estimate Property Tax Bill
$2,513
Ownwell’s Fort Jennings Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Fort Jennings with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fort Jennings to provide an estimate of 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 Fort Jennings, Ohio
Property taxes in Fort Jennings, Ohio, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fort Jennings is 1.58%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Fort Jennings set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fort Jennings 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 Fort Jennings' effective property tax rate to other counties in Ohio and the national median. For comparison, the 45844 zip code has the highest median property tax rate of 1.58%, while the 45844 zip code also has the lowest median tax rate of 1.58%. Understanding how these cities compare with Fort Jennings 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 Fort Jennings Tax Rate
1.58%
Average Allen County Tax Rate
1.57%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fort Jennings, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45844 | 1.15% | 1.18% | 1.58% | 1.58% | 1.61% |
Source: Ownwell
Property Tax Assessment Values Across Fort Jennings, Ohio
In Fort Jennings, 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 Fort Jennings, 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 Fort Jennings helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with both the highest and lowest median tax bill is 45844, with a median tax bill of $2,395.
Average Fort Jennings Assessed Value
$159,050
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 Fort Jennings, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45844 | $92,550 | $123,100 | $159,050 | $267,425 | $294,650 |
Source: Ownwell
Property Tax Bills Across Fort Jennings, Ohio
In Fort Jennings, Allen County, OH, property tax bills are calculated based on the assessed value of your home, which is typically a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. For instance, with a median home price of $159,050, homeowners can expect varying tax bills. At the 25th percentile, the tax bill is around $1,786, while at the 75th percentile, it rises to approximately $4,105. The 90th percentile sees tax bills reaching up to $4,635. Factors influencing these amounts include the property's location, its assessed value, and the specific tax rates set by local authorities. These property taxes significantly impact homeowners, as they form a considerable portion of annual housing expenses. Comparing this to the national median property tax rate of 0.99%, Fort Jennings homeowners might find their tax obligations higher or lower depending on their specific property values and local tax rates.
Average Fort Jennings Tax Bill
$2,395
Average Allen County Tax Bill
$1,550
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Fort Jennings, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45844 | $1,281 | $1,786 | $2,395 | $4,105 | $4,635 |
Source: Ownwell