Osgood, Ohio Property Taxes
The median property tax rate in Osgood, OH is 1.31%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Osgood at $152,355, the typical annual property tax bill reaches $1,910, falling below the national median of $2,690. Property taxes in Osgood are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Osgood'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 Osgood 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
Osgood, 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 Osgood Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Osgood with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Osgood 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 Osgood, Ohio
Property taxes in Osgood, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Osgood is 1.31%, which is significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Osgood set these rates annually, and they can vary significantly across different neighborhoods. Each year, Osgood 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 Osgood's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45351 zip code has the highest median property tax rate of 1.31%, while the same zip code also has the lowest median tax rate of 1.31%. Understanding how these cities compare with Osgood provides valuable insights into the varying tax landscape across Darke County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Osgood Tax Rate
1.31%
Average Darke County Tax Rate
1.34%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Osgood, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45351 | 1.08% | 1.31% | 1.31% | 1.31% | 1.35% |
Source: Ownwell
Property Tax Assessment Values Across Osgood, Ohio
In Osgood, 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 Darke 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 Osgood, 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 Osgood helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Osgood is $152,355, with tax bills ranging from $1,288 at the 25th percentile to $3,685 at the 90th percentile. The highest and lowest median tax bill is $1,910 in zip code 45351.
Average Osgood Assessed Value
$152,355
Average Darke County Assessed Value
$110,800
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Osgood, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45351 | $64,028 | $112,785 | $152,355 | $214,850 | $286,959 |
Source: Ownwell
Property Tax Bills Across Osgood, Ohio
In Osgood, property tax bills are calculated based on the assessed value of a home, which is determined by the local county assessor. The assessed value typically represents a percentage of the market value of the property. Once the assessed value is established, the local tax rate is applied to calculate the annual property tax bill. Several factors influence the tax bill, including property size, location, and any exemptions the homeowner may qualify for. For homeowners in Osgood, the median home price is $152,355. Property tax bills can vary significantly, with the 25th percentile at $1,288 and the 75th percentile at $2,701. The highest median tax bill in the area is $1,910, reflecting the specific zip code 45351. The property tax rate in Osgood affects homeowners by contributing to the overall cost of owning a home. Compared to the national median property tax rate of 0.99%, the tax rates in Osgood can influence affordability and financial planning for residents.
Average Osgood Tax Bill
$1,910
Average Darke County Tax Bill
$1,406
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Osgood, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45351 | $826 | $1,288 | $1,910 | $2,701 | $3,685 |
Source: Ownwell