Stony Ridge, Ohio Property Taxes
The median property tax rate in Stony Ridge, OH is 1.34%, which is considerably higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With the median home value in Stony Ridge at $64,800, the typical annual property tax bill reaches $884, falling below the national median of $2,690. Property taxes in Stony Ridge 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 Stony Ridge'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 Stony Ridge 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
Stony Ridge, Ohio Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.8%
Estimate Property Tax Bill
$3,600
Ownwell’s Stony Ridge Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Stony Ridge with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Stony Ridge to determine your property tax bill. This valuable tool helps you understand potential tax obligations. For those interested in seeing trends on a neighborhood level, scroll down for more localized information. Your property’s assessed value is the value assigned by Wood County for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Stony Ridge, Ohio
Property taxes in Stony Ridge, Ohio, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Stony Ridge is 1.34%, which is significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Stony Ridge set these rates annually, and they can vary considerably across different neighborhoods. Each year, Stony Ridge 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 Stony Ridge's effective property tax rate to other counties in Ohio and the national median. For comparison, the 43463 zip code has the highest median property tax rate of 1.34%, while the same zip code also has the lowest median tax rate of 1.34%. Understanding how these areas compare with Stony Ridge provides valuable insights into the varying tax landscape across Wood County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Stony Ridge Tax Rate
1.34%
Average Wood County Tax Rate
1.62%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Stony Ridge, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43463 | 1.14% | 1.31% | 1.34% | 1.42% | 2.20% |
Source: Ownwell
Property Tax Assessment Values Across Stony Ridge, Ohio
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Stony Ridge, Ohio. 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 Wood 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 Stony Ridge, 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. For instance, the highest median tax bill is $884 in zip code 43463. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Stony Ridge Assessed Value
$64,800
Average Wood County Assessed Value
$163,900
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Stony Ridge, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43463 | $1,320 | $7,250 | $64,800 | $108,400 | $139,120 |
Source: Ownwell
Property Tax Bills Across Stony Ridge, Ohio
In Stony Ridge, OH, property tax bills are calculated based on the assessed value of the property, which is determined by the local county assessor. The assessed value is a percentage of the market value of the home, which in Stony Ridge has a median home price of $64,800. The tax rate is applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including the property's location within Wood County and any applicable exemptions or deductions. For instance, the tax bill at the 25th percentile is $96, while at the 75th percentile, it rises to $1,432, and at the 90th percentile, it reaches $2,149. The highest and lowest median tax bills in the area are both $884, indicating some uniformity within specific zones of the zip code 43463. These property taxes directly impact homeowners by contributing to local services such as schools, public safety, and infrastructure. Understanding how these taxes are calculated can help homeowners anticipate their annual expenses and plan accordingly.
Average Stony Ridge Tax Bill
$884
Average Wood County Tax Bill
$2,615
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Stony Ridge, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43463 | $21 | $96 | $884 | $1,432 | $2,149 |
Source: Ownwell