Rosewood, Ohio Property Taxes
The median property tax rate in Rosewood, OH is 1.35%, which is significantly higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With a median home value in Rosewood, the typical annual property tax bill reaches $1,331, which is below the national median of $2,690. Property taxes in Rosewood are calculated based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Rosewood'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 Rosewood 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
Rosewood, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.35%
Estimate Property Tax Bill
$1,312
Ownwell’s Rosewood Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rosewood with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rosewood 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 Rosewood, Ohio
Property taxes in Rosewood, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Rosewood is 1.35%, notably higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Rosewood set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rosewood 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 Rosewood's effective property tax rate to other counties in Ohio and the national median. For comparison, the 43070 zip code has the highest median property tax rate of 1.35%, while the 43070 zip code also has the lowest median tax rate of 1.35%. Understanding how these cities compare with Rosewood provides valuable insights into the varying tax landscape across Champaign County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Rosewood Tax Rate
1.35%
Average Champaign County Tax Rate
1.33%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rosewood, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43070 | 1.19% | 1.34% | 1.35% | 1.38% | 1.39% |
Source: Ownwell
Property Tax Assessment Values Across Rosewood, Ohio
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Rosewood, 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 Champaign 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 Rosewood, 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, the median home price in Rosewood is $97,220, with tax bills ranging from $1,028 to $1,866. Notably, the highest median tax bill is found in the 43070 zip code, with a value of $1,331. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Rosewood Assessed Value
$97,220
Average Champaign County Assessed Value
$139,430
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Rosewood, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43070 | $26,380 | $75,695 | $97,220 | $122,490 | $140,350 |
Source: Ownwell
Property Tax Bills Across Rosewood, Ohio
In Rosewood, located in Champaign County, OH, property tax bills are calculated based on the assessed value of a property. The assessed value is derived from the market value, which is typically a percentage of the home's market price. For instance, with a median home price of $97,220, the tax bill can vary significantly depending on the property's assessed value and the local tax rate. Factors such as property improvements, neighborhood developments, and market trends can influence the assessed value. The tax bill in Rosewood falls within a range, with the 25th percentile at $1,028 and the 75th percentile at $1,628, showing the variability in tax obligations among homeowners. The highest median tax bill recorded in the area is $1,331, which is considerably higher than the national median property tax rate of 0.99%. Homeowners in Rosewood may find their tax bills impacted by changes in property values or local government budgetary needs. Understanding these factors can help homeowners anticipate and plan for their annual property tax obligations.
Average Rosewood Tax Bill
$1,331
Average Champaign County Tax Bill
$1,926
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Rosewood, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43070 | $347 | $1,028 | $1,331 | $1,628 | $1,866 |
Source: Ownwell