Toledo, Ohio Property Taxes
The median property tax rate in Toledo, OH is 1.65%, considerably higher than the national median of 0.99% but slightly lower than Ohio's state median of 1.80%. With a median home value of $61,700 in Toledo, the typical annual property tax bill reaches $986, which is below the national median of $2,690. Property taxes in Toledo are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Toledo'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 Toledo 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
Toledo, 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 Toledo Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Toledo with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Toledo 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 Toledo, Ohio
Property taxes in Toledo, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Toledo is 1.65%, significantly higher than the U.S. national median of 0.99%. Local government entities within Toledo set these rates annually, and they can vary significantly across different neighborhoods. Each year, Toledo 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 Toledo's effective property tax rate to other areas and the national median. For comparison, the 43617 zip code has the highest median property tax rate of 2.07%, while the 43605 zip code has the lowest median tax rate of 1.65%. Understanding how these areas compare with Toledo provides valuable insights into the varying tax landscape across Wood County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Toledo Tax Rate
1.65%
Average Wood County Tax Rate
1.62%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Toledo, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43605 | 1.17% | 1.65% | 1.65% | 1.69% | 2.02% |
| 43615 | 1.86% | 1.86% | 1.86% | 1.86% | 1.86% |
| 43617 | 2.07% | 2.07% | 2.07% | 2.07% | 2.07% |
Source: Ownwell
Property Tax Assessment Values Across Toledo, Ohio
In Toledo, 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 Wood 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 Toledo, 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 Toledo helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Toledo is $8,510 in the 43617 zip code, while the lowest is $948 in the 43605 zip code.
Average Toledo Assessed Value
$61,700
Average Wood County Assessed Value
$163,900
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Toledo, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43605 | $9,500 | $12,400 | $60,700 | $88,100 | $120,480 |
| 43615 | $198,600 | $198,600 | $198,600 | $198,600 | $198,600 |
| 43617 | $411,700 | $411,700 | $411,700 | $411,700 | $411,700 |
Source: Ownwell
Property Tax Bills Across Toledo, Ohio
Property tax bills in Toledo, located in Wood County, OH, are calculated based on the assessed value of a property, which is a percentage of its market value. The median home price in Toledo stands at $61,700. The local tax rate is applied to this assessed value to determine the tax bill. Factors such as property location, improvements, and exemptions can influence the final amount. For instance, in Toledo, the tax bills vary significantly. The 25th percentile tax bill is around $211, while the 75th percentile tax bill reaches approximately $1,421. At the higher end, the 90th percentile tax bill can be as much as $2,206. The highest median tax bill in the area is $8,510 in the 43617 zip code, contrasting sharply with the lowest median tax bill of $948 in the 43605 zip code. These variations affect homeowners by creating a range of financial responsibilities, depending on their property's assessed value and location. Understanding these factors can help homeowners anticipate their tax liabilities and plan accordingly.
Average Toledo Tax Bill
$986
Average Wood County Tax Bill
$2,615
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Toledo, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43605 | $166 | $210 | $948 | $1,270 | $1,924 |
| 43615 | $3,694 | $3,694 | $3,694 | $3,694 | $3,694 |
| 43617 | $8,510 | $8,510 | $8,510 | $8,510 | $8,510 |
Source: Ownwell