Fremont, Ohio Property Taxes
The median property tax rate in Fremont, Ohio is 1.64%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Fremont, the typical annual property tax bill reaches $3,572, exceeding the national median of $2,690. Property taxes in Fremont 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 Fremont'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 Fremont 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
Fremont, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.64%
Estimate Property Tax Bill
$3,914
Ownwell’s Fremont Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Fremont with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fremont 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 Fremont, Ohio
Property taxes in Fremont, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fremont is 1.64%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Fremont set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fremont 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 Fremont's effective property tax rate to other areas in Ohio and the national median. For comparison, the 43420 zip code has the highest median property tax rate of 1.64%, while the same zip code also has the lowest median tax rate of 1.64%. Understanding how these areas compare with Fremont provides valuable insights into the varying tax landscape across Ottawa County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring regions.
Average Fremont Tax Rate
1.64%
Average Ottawa County Tax Rate
1.28%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fremont, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43420 | 1.50% | 1.61% | 1.64% | 1.67% | 1.83% |
Source: Ownwell
Property Tax Assessment Values Across Fremont, Ohio
In Fremont, 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 Ottawa 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 Fremont, 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 Fremont helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 43420, with a median bill of $3,572, while the zip code with the lowest median tax bill is also 43420, with the same median bill of $3,572.
Average Fremont Assessed Value
$238,650
Average Ottawa County Assessed Value
$131,980
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fremont, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43420 | $100,116 | $135,380 | $238,650 | $372,670 | $527,580 |
Source: Ownwell
Property Tax Bills Across Fremont, Ohio
In Fremont, 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 annual property tax bill. For homeowners, the median home price in Fremont is $238,650. Property tax bills can vary significantly, with the 25th percentile at $2,176 and the 75th percentile reaching $6,102. At the 90th percentile, homeowners might see tax bills as high as $7,931. These tax rates and bills are influenced by several factors, including local government budgets, school district funding needs, and public service requirements. Compared to the national median property tax rate of 0.99%, Fremont's property taxes can be substantial, reflecting the community's investment in local infrastructure and services. Homeowners need to consider these taxes as part of their overall housing expenses, as they can significantly impact the affordability of owning a home in this region.
Average Fremont Tax Bill
$3,572
Average Ottawa County Tax Bill
$1,848
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Fremont, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43420 | $1,719 | $2,176 | $3,572 | $6,102 | $7,931 |
Source: Ownwell