Venedocia, Ohio Property Taxes
The median property tax rate in Venedocia, OH is 1.21%, which is higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Venedocia being $91,800, the typical annual property tax bill reaches $1,107, which is below the national median of $2,690. Property taxes in Venedocia are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Venedocia'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 Venedocia 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
Venedocia, 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 Venedocia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Venedocia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Venedocia 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 Venedocia, Ohio
Property taxes in Venedocia, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Venedocia is 1.21%, which is higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Venedocia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Venedocia 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. Understanding how these rates compare with other areas in Allen County and the national median provides valuable insights into the varying tax landscape, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Venedocia Tax Rate
1.21%
Average Allen County Tax Rate
1.57%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Venedocia, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45894 | 1.21% | 1.21% | 1.21% | 1.21% | 1.21% |
Source: Ownwell
Property Tax Assessment Values Across Venedocia, Ohio
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Venedocia, Ohio. 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 Venedocia, 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. The median home price in Venedocia is $91,800, with the highest and lowest median tax bills both being $1,107 in the 45894 zip code. 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 Venedocia helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Venedocia Assessed Value
$91,800
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 Venedocia, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45894 | $91,800 | $91,800 | $91,800 | $91,800 | $91,800 |
Source: Ownwell
Property Tax Bills Across Venedocia, Ohio
In Venedocia, located in Allen County, OH, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the market value of the property. Homeowners in Venedocia can expect a median home price of $91,800, with property tax bills typically around $1,107. This tax rate is higher than the national median property tax rate of 0.99%, reflecting the local tax policies. Factors such as property size, location, and improvements can influence the assessed value, ultimately affecting the tax bill. For homeowners, this means that any changes to their property or fluctuations in the housing market can impact their annual tax obligations. Understanding how these factors interplay is crucial for managing financial expectations and planning for future expenses.
Average Venedocia Tax Bill
$1,107
Average Allen County Tax Bill
$1,550
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Venedocia, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45894 | $1,107 | $1,107 | $1,107 | $1,107 | $1,107 |
Source: Ownwell