Galion, Ohio Property Taxes
The median property tax rate in Galion, OH is 1.44%, considerably higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With the median home value in Galion at $171,265, the typical annual property tax bill reaches $2,386, which is below the national median of $2,690. Property taxes in Galion 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 Galion'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 Galion 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
Galion, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.44%
Estimate Property Tax Bill
$2,466
Ownwell’s Galion Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Galion with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Galion 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 Galion, Ohio
Property taxes in Galion, Ohio, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Galion is 1.44%, significantly higher than the U.S. national median of 0.99%. Local government entities within Galion set these rates annually, and they can vary significantly across different neighborhoods. Each year, Galion 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 Galion's effective property tax rate to other areas in Ohio and the national median. For comparison, the zip code 44833 has the highest median property tax rate of 1.44%, while the same zip code also has the lowest median tax rate of 1.44%. Understanding how these areas compare with Galion provides valuable insights into the varying tax landscape across Marion County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Galion Tax Rate
1.44%
Average Marion County Tax Rate
1.35%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Galion, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44833 | 1.23% | 1.43% | 1.44% | 1.45% | 1.46% |
Source: Ownwell
Property Tax Assessment Values Across Galion, Ohio
In Galion, 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 Marion 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 Galion, 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 Galion helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in zip code 44833 is $2,386, which is above the national median property tax rate of 0.99%.
Average Galion Assessed Value
$171,265
Average Marion County Assessed Value
$101,515
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Galion, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44833 | $90,415 | $126,660 | $171,265 | $231,802 | $301,285 |
Source: Ownwell
Property Tax Bills Across Galion, Ohio
Property tax bills in Galion, situated in Marion County, OH, are calculated based on the assessed value of a property, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. Various factors influence this process, including the property's location, size, and any applicable exemptions or deductions. In Galion, the median home price stands at $171,265. The property tax bills can vary significantly, with the 25th percentile at $1,656 and the 75th percentile at $3,345. The 90th percentile tax bill reaches up to $4,331. Comparatively, the national median property tax rate is 0.99%, highlighting that local rates and property values play a crucial role in determining the final tax amount. For homeowners, these property taxes directly impact their annual expenses, influencing decisions on homeownership and financial planning. Understanding these factors is essential for effectively managing property-related costs in Galion.
Average Galion Tax Bill
$2,386
Average Marion County Tax Bill
$1,434
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Galion, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44833 | $1,305 | $1,656 | $2,386 | $3,345 | $4,331 |
Source: Ownwell