Raymond, Ohio Property Taxes
The median property tax rate in Raymond, OH is 1.56%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Raymond at $183,290, the typical annual property tax bill reaches $2,814, exceeding the national median of $2,690. Property taxes in Raymond 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 Raymond'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 Raymond or another part of Union County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Raymond, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.56%
Estimate Property Tax Bill
$2,859
Ownwell’s Raymond Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Raymond with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Raymond 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 Raymond, Ohio
Property taxes in Raymond, Ohio, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Raymond is 1.56%, significantly higher than the national median of 0.99%. Local government entities within Raymond set these rates annually, and they can vary significantly across different neighborhoods. Each year, Raymond 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 Raymond's effective property tax rate to other areas and the national median. For comparison, the zip code 43067 has the highest median property tax rate of 1.56%, while the same zip code also has the lowest median tax rate of 1.56%. Understanding how these areas compare with Raymond provides valuable insights into the varying tax landscape across Union County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Raymond Tax Rate
1.56%
Average Union County Tax Rate
1.44%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Raymond, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43067 | 1.09% | 1.40% | 1.56% | 1.59% | 1.90% |
Source: Ownwell
Property Tax Assessment Values Across Raymond, Ohio
In Raymond, 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 Union 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. Assessment notices in Raymond 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 Raymond helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Raymond are both $2814.00, found in the 43067 zip code.
Average Raymond Assessed Value
$183,290
Average Union County Assessed Value
$249,955
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Raymond, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43067 | $52,960 | $95,660 | $183,290 | $295,860 | $402,380 |
Source: Ownwell
Property Tax Bills Across Raymond, Ohio
In Raymond, OH, property tax bills are calculated based on the assessed value of a home, which is determined by the Union County Assessor. The assessed value is a percentage of the home's market value. Once the assessed value is established, the local tax rate is applied to calculate the annual property tax bill. For homeowners in Raymond, the median home price is $183,290. Property tax bills in this area range significantly, with the 25th percentile at $1,659 and the 75th percentile at $4,407. The 90th percentile of property tax bills reaches up to $5,687, reflecting higher-valued properties. Compared to the national median property tax rate of 0.99%, homeowners in Raymond may find their tax bills vary widely depending on their property's assessed value and the specific tax rates applied. These property taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the community's quality of life.
Average Raymond Tax Bill
$2,814
Average Union County Tax Bill
$3,900
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Raymond, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43067 | $957 | $1,659 | $2,814 | $4,407 | $5,687 |
Source: Ownwell