Sycamore, Ohio Property Taxes
The median property tax rate in Sycamore, OH is 1.36%, which is higher than both the national median of 0.99% and Ohio's state median of 1.80%. With the median home value in Sycamore at $71,685, the typical annual property tax bill reaches $965, which falls below the national median of $2,690. Property taxes in Sycamore are calculated based on the tax assessed value, often lower than the market value due to exemptions such as the primary residence and agricultural exemptions. Understanding Sycamore'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 Sycamore 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
Sycamore, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.36%
Estimate Property Tax Bill
$975
Ownwell’s Sycamore Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sycamore with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sycamore 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 Sycamore, Ohio
Property taxes in Sycamore, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sycamore is 1.36%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Sycamore set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sycamore 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 Sycamore's effective property tax rate to other areas in Ohio and the national median. For comparison, the zip code 44882 has the highest median property tax rate of 1.36%, while the same zip code also has the lowest median tax rate of 1.36%. Understanding how these areas compare with Sycamore provides valuable insights into the varying tax landscape across Wyandot County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Sycamore Tax Rate
1.36%
Average Wyandot County Tax Rate
1.29%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sycamore, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44882 | 0.91% | 1.20% | 1.36% | 1.49% | 1.52% |
Source: Ownwell
Property Tax Assessment Values Across Sycamore, Ohio
In Sycamore, 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 Wyandot 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 Sycamore, 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 Sycamore helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $965.00 in zip code 44882, while the lowest median tax bill is also $965.00 in the same zip code.
Average Sycamore Assessed Value
$71,685
Average Wyandot County Assessed Value
$93,115
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Sycamore, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44882 | $7,291 | $37,350 | $71,685 | $112,462 | $193,982 |
Source: Ownwell
Property Tax Bills Across Sycamore, Ohio
In Sycamore, located in Wyandot County, OH, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is a percentage of the property's market value. Homeowners in Sycamore face a property tax rate that is influenced by local government budgets and voter-approved levies for services such as schools, infrastructure, and emergency services. The median home price in Sycamore is $71,685, and property tax bills can vary significantly. For instance, the tax bill at the 25th percentile is $441, while at the 75th percentile, it rises to $1,466, and at the 90th percentile, it can reach $2,288. These figures illustrate the range of property tax obligations homeowners might encounter. Compared to the national median property tax rate of 0.99%, Sycamore’s property tax rates can have a substantial impact on homeowners' annual expenses, affecting their overall financial planning and housing affordability.
Average Sycamore Tax Bill
$965
Average Wyandot County Tax Bill
$1,190
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Sycamore, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44882 | $95 | $441 | $965 | $1,466 | $2,288 |
Source: Ownwell