Arcanum, Ohio Property Taxes
The median property tax rate in Arcanum, OH is 1.38%, which is considerably higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With a median home value of $124,500 in Arcanum, the typical annual property tax bill reaches $1,704, falling short of the national median of $2,690. Property taxes in Arcanum are calculated based on the assessed value, which is often lower than the market value due to exemptions like those for primary residences and agricultural land. Understanding Arcanum'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 Arcanum 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
Arcanum, 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 Arcanum Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Arcanum with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Arcanum 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 Arcanum, Ohio
Property taxes in Arcanum, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Arcanum is 1.38%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Arcanum set these rates annually, and they can vary across different neighborhoods. Each year, Arcanum 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 Arcanum's effective property tax rate to other regions in Ohio and the national median. For comparison, the zip code 45304 in Arcanum has the highest median property tax rate of 1.38%, while the same zip code also records the lowest median tax rate of 1.38%. Understanding how these figures compare with Arcanum provides valuable insights into the varying tax landscape across Darke County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Arcanum Tax Rate
1.38%
Average Darke County Tax Rate
1.34%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Arcanum, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45304 | 1.08% | 1.33% | 1.38% | 1.50% | 1.53% |
Source: Ownwell
Property Tax Assessment Values Across Arcanum, Ohio
In Arcanum, 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 Darke 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 Arcanum, 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 Arcanum helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Arcanum is $124,500, with the highest and lowest median tax bills both being $1,704 in zip code 45304.
Average Arcanum Assessed Value
$124,500
Average Darke County Assessed Value
$110,800
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Arcanum, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45304 | $63,468 | $91,020 | $124,500 | $176,100 | $239,328 |
Source: Ownwell
Property Tax Bills Across Arcanum, Ohio
In Arcanum, located in Darke 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 then multiplied by the local tax rate to determine the annual tax bill. The median home price in Arcanum is $124,500, and the property tax rate is 1.37%, which is higher than the national median of 0.99%. Homeowners in Arcanum can expect tax bills to vary significantly depending on their property's assessed value. For example, the 25th percentile tax bill is around $1,237, while the 75th percentile tax bill is approximately $2,358. At the 90th percentile, homeowners may face tax bills as high as $3,130. The highest median tax bill in the area is $1,704, indicating a substantial range in property tax obligations. These tax bills can significantly impact homeowners, influencing decisions on buying or selling property and affecting overall affordability. Understanding these factors helps homeowners plan better for their financial responsibilities.
Average Arcanum Tax Bill
$1,704
Average Darke County Tax Bill
$1,406
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Arcanum, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45304 | $854 | $1,237 | $1,704 | $2,358 | $3,130 |
Source: Ownwell