Cadiz, Ohio Property Taxes
The median property tax rate in Cadiz, Ohio is 2.77%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Cadiz at $105,580, the typical annual property tax bill reaches $2,876, exceeding the national median of $2,690. Property taxes in Cadiz 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 Cadiz'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 Cadiz 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
Cadiz, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.77%
Estimate Property Tax Bill
$2,925
Ownwell’s Cadiz Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Cadiz with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cadiz to project your property tax bill. This valuable tool provides clarity on potential tax liabilities. For those interested in more localized trends, additional neighborhood-level information is available below. Your property’s assessed value, determined by the county, is used for property tax calculations and considers any applicable exemptions.
Property Tax Rates Across Cadiz, Ohio
Property taxes in Cadiz, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cadiz is 1.08%, which is higher than the Ohio state median of 1.36% but above the U.S. national median of 0.99%. Local government entities within Cadiz set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cadiz 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 Cadiz's effective property tax rate to other counties in Ohio and the national median. For comparison, the 43907 zip code has the highest median property tax rate of 1.08%, while the same zip code has the lowest median tax rate of 1.08%. Understanding how these cities compare with Cadiz provides valuable insights into the varying tax landscape across Harrison County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cadiz Tax Rate
2.77%
Average Jefferson County Tax Rate
2.19%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cadiz, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43907 | 1.89% | 1.89% | 2.77% | 2.77% | 2.77% |
Source: Ownwell
Property Tax Assessment Values Across Cadiz, Ohio
In Cadiz, 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 Jefferson 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 Cadiz, 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 Cadiz 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 $2,876, found in zip code 43907, while the lowest is also $2,876, reflecting a consistent tax landscape within the region.
Average Cadiz Assessed Value
$105,580
Average Jefferson County Assessed Value
$67,215
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cadiz, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43907 | $8,382 | $21,115 | $105,580 | $229,820 | $273,616 |
Source: Ownwell
Property Tax Bills Across Cadiz, Ohio
In Cadiz, Ohio, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the final tax bill. Factors such as property type, location, and any applicable exemptions or abatements also play a role in the calculation. For instance, homeowners in Cadiz with a median home price of $105,580 may see varying tax bills depending on these factors. The tax bill at the 25th percentile is around $585, while those at the 75th and 90th percentiles are significantly higher, at $5,617 and $6,464 respectively. This wide range illustrates how property taxes can vary widely even within the same area. Compared to the national median property tax rate of 0.99%, homeowners in Cadiz may find their tax rates to be relatively moderate or high. Understanding these elements helps homeowners better anticipate their annual tax obligations and plan their finances accordingly.
Average Cadiz Tax Bill
$2,876
Average Jefferson County Tax Bill
$1,517
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Cadiz, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43907 | $160 | $585 | $2,876 | $5,617 | $6,464 |
Source: Ownwell