Galion, Ohio Property Taxes
The median property tax rate in Galion, OH is 1.71%, which is notably higher than the national median of 0.99% but slightly below the Ohio state median of 1.80%. With a median home value of $120,430 in Galion, the typical annual property tax bill amounts to $2,089, which is lower than the national median of $2,690. Property taxes in Galion are calculated based on the assessed value, which often falls below the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Galion'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 Galion 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
Galion, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.71%
Estimate Property Tax Bill
$2,059
Ownwell’s Galion Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Galion with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Galion to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available below. Your property’s assessed value is determined by the county for property tax calculations, considering any applicable exemptions.
Property Tax Rates Across Galion, Ohio
Property taxes in Galion, Ohio, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Galion is 1.71%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Galion set these rates annually, and they can vary across different neighborhoods. Each year, Galion 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 Galion's effective property tax rate to other counties in Ohio and the national median. For comparison, the 44833 zip code has the highest median property tax rate of 1.71%, while the same zip code also has the lowest median tax rate of 1.71%. Understanding how these cities compare with Galion provides valuable insights into the varying tax landscape across Richland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Galion Tax Rate
1.71%
Average Richland County Tax Rate
1.92%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Galion, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44833 | 1.15% | 1.48% | 1.71% | 1.90% | 1.97% |
Source: Ownwell
Property Tax Assessment Values Across Galion, Ohio
In Galion, 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 Richland 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 Galion, 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 Galion 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 $2,089 in the 44833 zip code, which is also the lowest median tax bill.
Average Galion Assessed Value
$120,430
Average Richland County Assessed Value
$93,590
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Galion, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44833 | $61,399 | $92,202 | $120,430 | $178,098 | $265,054 |
Source: Ownwell
Property Tax Bills Across Galion, Ohio
In Galion, located in Richland County, OH, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Galion is $120,430, and the property tax rate is applied to this assessed value to determine the annual tax bill. Factors such as local tax levies, school district funding, and municipal services contribute to the overall tax rate. Homeowners in Galion can expect property tax bills that vary widely. For instance, the tax bill at the 25th percentile is approximately $1,542, while at the 75th percentile, it rises to around $2,901. At the 90th percentile, homeowners might pay up to $3,875. The highest and lowest median tax bills in the area are both recorded at $2,089, indicating a level of consistency within certain neighborhoods. These property taxes significantly impact homeowners by affecting their overall housing costs and potentially influencing their decisions on home improvements or real estate investments. Compared to the national median property tax rate of 0.99%, Galion's rates provide a context for understanding local financial commitments.
Average Galion Tax Bill
$2,089
Average Richland County Tax Bill
$1,633
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Galion, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44833 | $986 | $1,542 | $2,089 | $2,901 | $3,875 |
Source: Ownwell