Harrod, Ohio Property Taxes
The median property tax rate in Harrod, OH is 1.51%, considerably higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With the median home value in Harrod at $101,690, the typical annual property tax bill reaches $1,651, which is below the national median of $2,690. Property taxes in Harrod are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Harrod'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 Harrod 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
Harrod, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.51%
Estimate Property Tax Bill
$1,536
Ownwell’s Harrod Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Harrod with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Harrod 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 Harrod, Ohio
Property taxes in Harrod, Ohio, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Harrod is 1.51%, notably higher than the U.S. national median of 0.99%. Local government entities within Harrod set these rates annually, and they can vary significantly across different neighborhoods. Each year, Harrod 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 Harrod's effective property tax rate to other areas in Hardin County and the national median. For comparison, the 45850 zip code has the highest median property tax rate of 1.51%, while the same zip code also has the lowest median tax rate of 1.51%. Understanding how these figures compare with Harrod provides valuable insights into the varying tax landscape across Hardin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Harrod Tax Rate
1.51%
Average Hardin County Tax Rate
1.61%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Harrod, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45850 | 1.05% | 1.30% | 1.51% | 1.73% | 1.89% |
Source: Ownwell
Property Tax Assessment Values Across Harrod, Ohio
In Harrod, 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 Hardin 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 Harrod, 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. The median home price in Harrod is $101,690, with tax bills ranging from $1,067 at the 25th percentile to $3,060 at the 90th percentile. Notably, the zip code 45850 has both the highest and lowest median tax bills at $1,651. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Harrod Assessed Value
$101,690
Average Hardin County Assessed Value
$82,480
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Harrod, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45850 | $2,538 | $45,645 | $101,690 | $152,132 | $249,225 |
Source: Ownwell
Property Tax Bills Across Harrod, Ohio
In Harrod, located in Hardin County, OH, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local tax assessor and is a percentage of the property's market value. Homeowners in Harrod face varying property tax bills depending on their home's value. For instance, the 25th percentile tax bill is $1,067, while the 75th percentile tax bill is $2,209, and the 90th percentile tax bill can reach up to $3,060. Several factors influence these amounts, including the property's location, size, and any improvements made. When compared to the national median property tax rate of 0.99%, Harrod's property tax rates can significantly impact homeowners' annual expenses. Understanding these factors helps homeowners anticipate their tax liabilities and budget accordingly. The highest median tax bill in Harrod is $1,651, found in the 45850 zip code, which is also the lowest median tax bill, indicating uniformity in tax assessments within that area.
Average Harrod Tax Bill
$1,651
Average Hardin County Tax Bill
$1,448
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Harrod, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45850 | $280 | $1,067 | $1,651 | $2,209 | $3,060 |
Source: Ownwell