Cardington, Ohio Property Taxes
The median property tax rate in Cardington, OH is 1.52%, 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 Cardington, the typical annual property tax bill reaches $1,632, which is below the national median of $2,690. Property taxes in Cardington 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 Cardington'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 Cardington 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
Cardington, 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 Cardington Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cardington with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cardington 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 Cardington, Ohio
Property taxes in Cardington, Ohio, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cardington is 1.52%, significantly higher than the U.S. national median of 0.99%. Local government entities within Cardington set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cardington 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 Cardington's effective property tax rate to other counties in Ohio and the national median. For comparison, the 43315 zip code has the highest median property tax rate of 1.52%, while the same zip code also has the lowest median tax rate of 1.52%. Understanding how these cities compare with Cardington provides valuable insights into the varying tax landscape across Morrow County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cardington Tax Rate
1.52%
Average Morrow County Tax Rate
1.58%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cardington, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43315 | 1.26% | 1.42% | 1.52% | 1.70% | 1.76% |
Source: Ownwell
Property Tax Assessment Values Across Cardington, Ohio
In Cardington, 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 Morrow 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 Cardington, 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 Cardington helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 43315, with a value of $1,632.
Average Cardington Assessed Value
$103,400
Average Morrow County Assessed Value
$98,100
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cardington, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43315 | $6,600 | $35,900 | $103,400 | $160,000 | $226,980 |
Source: Ownwell
Property Tax Bills Across Cardington, Ohio
In Cardington, located in Morrow County, OH, property tax bills are calculated based on the assessed value of a home, which is a percentage of the market value determined by the county assessor. The median home price in Cardington is $103,400, and the property tax rate is applied to this assessed value to determine the annual tax bill. Homeowners in Cardington can expect their tax bills to vary significantly, with the 25th percentile tax bill at $714 and the 75th percentile at $2,446. At the higher end, the 90th percentile tax bill is $3,389. These taxes are crucial for funding local services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, the property taxes in Cardington may seem relatively moderate, yet they still represent a significant expense for homeowners. The highest and lowest median tax bills in the region are both $1,632, indicating some consistency in tax assessments within the area.
Average Cardington Tax Bill
$1,632
Average Morrow County Tax Bill
$1,602
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Cardington, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43315 | $131 | $714 | $1,632 | $2,446 | $3,389 |
Source: Ownwell