Risingsun, Ohio Property Taxes
The median property tax rate in Risingsun, OH is 1.39%, which is higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With a median home value of $115,870 in Risingsun, the typical annual property tax bill amounts to $1,447, falling short of the national median of $2,690. Property taxes in Risingsun are calculated based on the assessed value, which is usually less than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Risingsun'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 Risingsun or another part of Seneca County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Risingsun, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.39%
Estimate Property Tax Bill
$1,611
Ownwell’s Rising Sun Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rising Sun with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rising Sun 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 Risingsun, Ohio
Property taxes in Risingsun, Ohio, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Risingsun is 1.39%, higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Risingsun set these rates annually, and they can vary significantly across different neighborhoods. Each year, Risingsun 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 Risingsun's effective property tax rate to other counties in Ohio and the national median. For comparison, the 43457 zip code has the highest median property tax rate of 1.39%, while the same zip code also has the lowest median tax rate of 1.39%. Understanding how these cities compare with Risingsun 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 Risingsun Tax Rate
1.39%
Average Seneca County Tax Rate
1.43%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Risingsun, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43457 | 1.08% | 1.37% | 1.39% | 1.39% | 1.41% |
Source: Ownwell
Property Tax Assessment Values Across Risingsun, Ohio
In Risingsun, 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 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 Risingsun, 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 Risingsun helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Risingsun is $1,447 in zip code 43457, while the lowest is also $1,447 in the same zip code.
Average Risingsun Assessed Value
$115,870
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 Risingsun, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43457 | $82,577 | $89,608 | $115,870 | $181,282 | $228,835 |
Source: Ownwell
Property Tax Bills Across Risingsun, Ohio
In Risingsun, Ohio, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the home's market value. For example, with a median home price of $115,870, the tax bill can vary significantly. Homeowners in the 25th percentile typically pay around $1,253 annually, while those in the 75th percentile see bills closer to $2,477. For the top 10% of homes, tax bills can reach up to $2,884. Several factors influence these amounts, including property location, improvements, and local tax rates. The tax rate in Risingsun can be compared to the national median property tax rate of 0.99%. Understanding these components is crucial for homeowners, as property taxes can significantly impact annual housing costs. For homeowners in Risingsun, staying informed about how these taxes are calculated helps in budgeting and financial planning.
Average Risingsun Tax Bill
$1,447
Average Seneca County Tax Bill
$1,391
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Risingsun, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43457 | $1,143 | $1,253 | $1,447 | $2,477 | $2,884 |
Source: Ownwell