Mendon, Ohio Property Taxes
The median property tax rate in Mendon, OH is 1.97%, significantly higher than both the national median of 0.99% and the Ohio state median of 1.80%. With a median home value of $161,470 in Mendon, the typical annual property tax bill reaches $2,836, surpassing the national median of $2,690. Property taxes in Mendon are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like those for primary residences and agricultural properties. Understanding Mendon's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Mendon 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
Mendon, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.97%
Estimate Property Tax Bill
$3,181
Ownwell’s Mendon Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Mendon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mendon 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 Mendon, Ohio
Property taxes in Mendon, Ohio, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mendon is 1.97%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Mendon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mendon 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 Mendon's effective property tax rate to other counties in Ohio and the national median. For comparison, the zip code 45862 has the highest median property tax rate of 1.97%, while the same zip code also has the lowest median tax rate of 1.97%. Understanding how these cities compare with Mendon provides valuable insights into the varying tax landscape across Auglaize County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mendon Tax Rate
1.97%
Average Auglaize County Tax Rate
1.86%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mendon, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45862 | 1.57% | 1.87% | 1.97% | 2.07% | 2.10% |
Source: Ownwell
Property Tax Assessment Values Across Mendon, Ohio
In Mendon, 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 local 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 Mendon, 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 Mendon is $161,470, with tax bills ranging from $1,694 at the 25th percentile to $4,184 at the 75th percentile, and up to $5,283 at the 90th percentile. The highest and lowest median tax bill both amount to $2,836 in the 45862 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage their tax burden.
Average Mendon Assessed Value
$161,470
Average Auglaize County Assessed Value
$135,635
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mendon, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45862 | $69,445 | $101,520 | $161,470 | $211,770 | $264,850 |
Source: Ownwell
Property Tax Bills Across Mendon, Ohio
In Mendon, property tax bills are determined based on the assessed value of a home and the applicable tax rate. The assessed value is typically a percentage of the market value of the property, which is determined by local assessors. For homeowners in Mendon, the median home price is $161,470. The tax rate applied to this assessed value determines the annual property tax bill. Several factors influence the final tax bill, including the home's location, any applicable exemptions, and the specific tax levies imposed by local government entities such as schools, municipalities, and special districts. Homeowners in Mendon can expect a range of property tax bills, with the 25th percentile at $1,694 and the 75th percentile at $4,184. The highest median tax bill recorded in the area is $2,836. Compared to the national median property tax rate of 0.99%, Mendon's tax rates can significantly impact homeowners, influencing their financial planning and the overall affordability of owning property in the area.
Average Mendon Tax Bill
$2,836
Average Auglaize County Tax Bill
$2,263
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Mendon, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45862 | $1,340 | $1,694 | $2,836 | $4,184 | $5,283 |
Source: Ownwell