Ottoville, Ohio Property Taxes
The median property tax rate in Ottoville, OH is 1.38%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Ottoville at $112,685, the typical annual property tax bill reaches $1,550, exceeding the national median of $2,690. Property taxes in Ottoville 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 Ottoville'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 Ottoville 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
Ottoville, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.38%
Estimate Property Tax Bill
$1,555
Ownwell’s Ottoville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ottoville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ottoville 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 Ottoville, Ohio
Property taxes in Ottoville, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ottoville is 1.38%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Ottoville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ottoville 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 Ottoville's effective property tax rate to other counties in Ohio and the national median. For comparison, the zip code 45876 has the highest median property tax rate of 1.38%, while the same zip code also has the lowest median tax rate of 1.38%. Understanding how these cities compare with Ottoville provides valuable insights into the varying tax landscape across Putnam County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ottoville Tax Rate
1.38%
Average Putnam County Tax Rate
1.30%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ottoville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45876 | 1.17% | 1.37% | 1.38% | 1.39% | 1.41% |
Source: Ownwell
Property Tax Assessment Values Across Ottoville, Ohio
In Ottoville, 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 Putnam 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. 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 Ottoville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 45876 has the highest and lowest median tax bill at $1,550.
Average Ottoville Assessed Value
$112,685
Average Putnam County Assessed Value
$132,830
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ottoville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45876 | $51,703 | $82,275 | $112,685 | $159,620 | $246,023 |
Source: Ownwell
Property Tax Bills Across Ottoville, Ohio
In Ottoville, located in Putnam County, OH, property tax bills are calculated by multiplying the assessed value of a home by the local tax rate. The assessed value is a percentage of the market value, which is determined by the county assessor. This value is then subject to the county's tax rate, which is applied to generate the annual tax bill. Factors that influence the tax bill include the market value of the property, any applicable exemptions, and the specific tax rate set by local authorities. For example, the median home price in Ottoville is $112,685. Homeowners at the 25th percentile of tax bills pay around $1,140 annually, while those at the 75th percentile may see bills as high as $2,212. The 90th percentile tax bill can reach up to $3,327. These property taxes fund essential local services such as schools, emergency services, and infrastructure, directly impacting the quality of life for Ottoville residents. With a county median tax bill of $1,550, homeowners in Ottoville experience a range of tax burdens based on their property's assessed value and applicable tax rates.
Average Ottoville Tax Bill
$1,550
Average Putnam County Tax Bill
$1,712
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Ottoville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45876 | $862 | $1,140 | $1,550 | $2,212 | $3,327 |
Source: Ownwell