Ridgeway, Ohio Property Taxes
The median property tax rate in Ridgeway, Ohio is 1.46%, which is significantly higher than the national median of 0.99% but lower than Ohio's state median of 1.80%. With a median home value of $120,810 in Ridgeway, the typical annual property tax bill amounts to $1,753, falling below the national median of $2,690. Property taxes in Ridgeway are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Ridgeway'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 Ridgeway 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
Ridgeway, 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 Ridgeway Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ridgeway with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ridgeway 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 Ridgeway, Ohio
Property taxes in Ridgeway, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ridgeway is 1.46%, significantly higher than both the Ohio state median of 1.36% and the U.S. national median of 0.99%. Local government entities within Ridgeway set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ridgeway 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 Ridgeway's effective property tax rate to other counties in Ohio and the national median. For comparison, the 43345 zip code has the highest median property tax rate of 1.46%, while the same zip code also has the lowest median tax rate of 1.46%. Understanding how these cities compare with Ridgeway provides valuable insights into the varying tax landscape across Hardin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ridgeway Tax Rate
1.46%
Average Logan County Tax Rate
1.65%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ridgeway, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43345 | 0.75% | 1.37% | 1.46% | 1.57% | 1.61% |
Source: Ownwell
Property Tax Assessment Values Across Ridgeway, Ohio
In Ridgeway, 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 Logan 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 Ridgeway, 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 Ridgeway helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Ridgeway is $1,753 in the 43345 zip code, while the lowest is also $1,753 in the same zip code.
Average Ridgeway Assessed Value
$120,810
Average Logan County Assessed Value
$106,220
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ridgeway, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43345 | $30,296 | $78,130 | $120,810 | $184,410 | $376,116 |
Source: Ownwell
Property Tax Bills Across Ridgeway, Ohio
In Ridgeway, Logan County, OH, property tax bills are determined based on the assessed value of a home, which is a percentage of its market value. The county tax assessor evaluates properties to establish their assessed values, and then the local tax rate is applied. For instance, with a median home price of $120,810, homeowners can expect varying tax bills depending on their property's assessed value and applicable exemptions. The property tax rate in Ridgeway is influenced by local government budgets and school funding needs. Homeowners in this area typically see tax bills ranging from $1,136 at the 25th percentile to $3,624 at the 90th percentile. This variability reflects differences in property values and any applicable tax exemptions or reductions. Compared to the national median property tax rate of 0.99%, Ridgeway's tax rates can be relatively higher or lower based on individual assessments. These property taxes significantly impact homeowners by influencing their overall cost of homeownership and potentially affecting property values in the community.
Average Ridgeway Tax Bill
$1,753
Average Logan County Tax Bill
$1,716
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Ridgeway, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43345 | $529 | $1,136 | $1,753 | $2,514 | $3,624 |
Source: Ownwell