Richmond Dale, Ohio Property Taxes
The median property tax rate in Richmond Dale, OH is 1.32%, which is significantly higher than the national median of 0.99% but lower than Ohio's state median of 1.80%. With the median home value in Richmond Dale at $54,800, the typical annual property tax bill amounts to $731, falling below the national median of $2,690. Property taxes in Richmond Dale are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Richmond Dale's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Richmond Dale or another part of Ross County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Richmond Dale, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.32%
Estimate Property Tax Bill
$723
Ownwell’s Richmond Dale Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Richmond Dale with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Richmond Dale 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 Richmond Dale, Ohio
Property taxes in Richmond Dale, Ohio, are essential for funding crucial local services like public schools, road maintenance, and emergency services. The median tax rate in Richmond Dale is 1.32%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Richmond Dale set these rates annually, and they can vary considerably across different neighborhoods. Each year, Richmond Dale 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 Richmond Dale's effective property tax rate to other counties in Ohio and the national median. For comparison, the zip code 45673 has the highest median property tax rate of 1.32%, while the same zip code also has the lowest median tax rate of 1.32%. Understanding how these cities compare with Richmond Dale provides valuable insights into the varying tax landscape across Ross County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Richmond Dale Tax Rate
1.32%
Average Ross County Tax Rate
1.29%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Richmond Dale, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45673 | 0.96% | 1.24% | 1.32% | 1.49% | 1.91% |
Source: Ownwell
Property Tax Assessment Values Across Richmond Dale, Ohio
In Richmond Dale, 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 Ross 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 Richmond Dale, 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. Richmond Dale has a median home price of $54,800, with the 25th percentile tax bill at $370 and the 75th percentile tax bill at $1,120. The highest and lowest median tax bill both stand at $731 in zip code 45673. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Richmond Dale Assessed Value
$54,800
Average Ross County Assessed Value
$96,810
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Richmond Dale, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45673 | $9,600 | $23,725 | $54,800 | $84,905 | $114,205 |
Source: Ownwell
Property Tax Bills Across Richmond Dale, Ohio
In Richmond Dale, located in Ross County, OH, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the market value of the property. Homeowners in Richmond Dale typically see a range of property tax bills, with the 25th percentile at $370 and the 75th percentile at $1,120. The highest median tax bill in the area is $731, which is significantly lower than the national median property tax rate of 0.99%. Several factors influence the property tax bill, including the market value of the home, local tax rates, and any applicable exemptions. These taxes are crucial for funding public services such as schools, road maintenance, and emergency services. For homeowners, understanding how these factors interact can help in planning and budgeting for annual property tax expenses. The variability in tax bills highlights the importance of accurate property assessments and the potential benefits of appealing an assessed value if it seems too high.
Average Richmond Dale Tax Bill
$731
Average Ross County Tax Bill
$1,236
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Richmond Dale, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45673 | $148 | $370 | $731 | $1,120 | $1,525 |
Source: Ownwell