Ney, Ohio Property Taxes
The median property tax rate in Ney, Ohio is 1.21%, which is higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With the median home value in Ney at $136,480, the typical annual property tax bill reaches $1,584, which is below the national median of $2,690. Property taxes in Ney are calculated based on the tax assessed value, often less than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Ney'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 Ney 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
Ney, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.21%
Estimate Property Tax Bill
$1,651
Ownwell’s NEY Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in NEY with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in NEY 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 Ney, Ohio
Property taxes in Ney, Ohio, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ney is 1.21%, higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Ney set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ney 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 Ney's effective property tax rate to other counties in Ohio and the national median. For comparison, the 43549 zip code has both the highest and lowest median property tax rate of 1.21%. Understanding how these cities compare with Ney provides valuable insights into the varying tax landscape across Defiance County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ney Tax Rate
1.21%
Average Defiance County Tax Rate
1.30%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ney, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43549 | 0.85% | 1.14% | 1.21% | 1.28% | 1.32% |
Source: Ownwell
Property Tax Assessment Values Across Ney, Ohio
In NEY, 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 Defiance 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 NEY, 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 NEY helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $1,584 in zip code 43549, while the lowest is also $1,584 in the same zip code.
Average Ney Assessed Value
$136,480
Average Defiance County Assessed Value
$127,250
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ney, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43549 | $46,121 | $91,365 | $136,480 | $217,992 | $321,788 |
Source: Ownwell
Property Tax Bills Across Ney, Ohio
Property tax bills in Ney, located in Defiance County, OH, are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the county assessor and typically represents a percentage of the property's market value. For instance, if a home in Ney has a median market value of $136,480, the assessed value would be a portion of this figure. The local property tax rate is then applied to the assessed value to calculate the annual tax bill. Several factors influence the final tax bill, including property characteristics, improvements, and any applicable exemptions. Homeowners in Ney can expect a range of tax bills. For example, the 25th percentile tax bill is around $1,057, while the 75th percentile tax bill is approximately $2,446. The highest median tax bill recorded is $1,584, consistent across the zip code 43549. These property taxes directly impact homeowners by contributing to local services such as schools, infrastructure, and emergency services, thereby affecting overall living costs and community quality.
Average Ney Tax Bill
$1,584
Average Defiance County Tax Bill
$1,657
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Ney, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43549 | $493 | $1,057 | $1,584 | $2,446 | $3,256 |
Source: Ownwell