Republic, Ohio Property Taxes
The median property tax rate in Republic, OH is 1.55%, which is significantly higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With the median home value in Republic, the typical annual property tax bill amounts to $1,827, falling short of the national median of $2,690. Property taxes in Republic are determined based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Gaining a thorough understanding of Republic's property tax system, exploring the available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Republic or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Republic, 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 Republic Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Republic with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Republic 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 Republic, Ohio
Property taxes in Republic, Ohio, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Republic is 1.55%, significantly higher than both the Ohio state median of 1.41% and the U.S. national median of 0.99%. Local government entities within Republic set these rates annually, and they can vary significantly across different neighborhoods. Each year, Republic 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 Republic's effective property tax rate to other counties in Ohio and the national median. For comparison, the 44867 zip code has the highest median property tax rate of 1.55%, while the same zip code also registers the lowest median tax rate of 1.55%. Understanding how these areas compare with Republic provides valuable insights into the varying tax landscape across Seneca County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Republic Tax Rate
1.55%
Average Seneca County Tax Rate
1.43%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Republic, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44867 | 0.73% | 1.24% | 1.55% | 1.57% | 1.60% |
Source: Ownwell
Property Tax Assessment Values Across Republic, Ohio
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Republic, Ohio. 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 Seneca 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 Republic, 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 Republic helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in Republic are both $1,827, found in the zip code 44867.
Average Republic Assessed Value
$123,725
Average Seneca County Assessed Value
$95,080
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Republic, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44867 | $57,725 | $82,875 | $123,725 | $193,135 | $380,415 |
Source: Ownwell
Property Tax Bills Across Republic, Ohio
In Republic, located in Seneca 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 applied to this assessed value to determine the tax bill. Various factors influence the final tax amount, including the property's location, size, and any applicable exemptions or deductions. Homeowners in Republic experience a range of tax bills, with the 25th percentile paying around $1,222 and the 75th percentile facing bills up to $2,717. Those at the 90th percentile see tax bills as high as $3,774. Compared to the national median property tax rate of 0.99%, these figures highlight the variability within the region. For homeowners, understanding these factors is crucial as property taxes significantly impact annual expenses. High property taxes can affect affordability and long-term financial planning, making it essential for residents to stay informed about their local tax rates and potential exemptions.
Average Republic Tax Bill
$1,827
Average Seneca County Tax Bill
$1,391
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Republic, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44867 | $801 | $1,222 | $1,827 | $2,717 | $3,774 |
Source: Ownwell