Colton, Ohio Property Taxes
The median property tax rate in Colton, Ohio is 0.76%, considerably lower than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Colton, the typical annual property tax bill reaches $914, significantly below the national median of $2,690. Property taxes in Colton 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 Colton'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 Colton 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
Colton, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.76%
Estimate Property Tax Bill
$1,068
Ownwell’s Colton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Colton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Colton 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 Colton, Ohio
Property taxes in Colton, Ohio, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Colton is 1.30%, higher than both the Ohio state median of 1.41% and the U.S. national median of 0.99%. Local government entities within Colton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Colton 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 Colton's effective property tax rate to other counties in Ohio and the national median. For comparison, the 43510 zip code has the highest median property tax rate of 1.30%, while the 43510 zip code has the lowest median tax rate of 1.30%. Understanding how these cities compare with Colton provides valuable insights into the varying tax landscape across Henry County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Colton Tax Rate
0.76%
Average Henry County Tax Rate
0.78%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Colton, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43510 | 0.53% | 0.60% | 0.76% | 0.80% | 0.89% |
Source: Ownwell
Property Tax Assessment Values Across Colton, Ohio
In Colton, 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 Henry 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 Colton, 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. For instance, the median home price in Colton is $140,530, with tax bills ranging from $721 at the 25th percentile to $1,660 at the 90th percentile. 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 Colton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Colton Assessed Value
$140,530
Average Henry County Assessed Value
$213,460
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Colton, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43510 | $17,699 | $84,905 | $140,530 | $170,750 | $201,628 |
Source: Ownwell
Property Tax Bills Across Colton, Ohio
In Colton, located in Henry County, OH, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual property tax bill. Several factors influence this calculation, including the property's location, size, and any improvements made to it. For homeowners in Colton, the median home price stands at $140,530. Property tax bills can vary significantly, with the 25th percentile at $721 and the 75th percentile at $1,349. At the 90th percentile, tax bills can reach up to $1,660. Comparing this to the national median property tax rate of 0.99%, homeowners in Colton experience a range of tax obligations depending on their property's assessed value. This variability can significantly impact household budgets, making it crucial for homeowners to understand how their tax bill is determined and explore potential exemptions or appeals to manage their expenses effectively.
Average Colton Tax Bill
$914
Average Henry County Tax Bill
$1,746
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Colton, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43510 | $186 | $721 | $914 | $1,349 | $1,660 |
Source: Ownwell