Fort Recovery, Ohio Property Taxes
The median property tax rate in Fort Recovery, OH is 1.00%, which is slightly above the national median of 0.99% but significantly lower than the Ohio state median of 1.80%. With the median home value in Fort Recovery at $145,910, the typical annual property tax bill amounts to $1,426, which is below the national median of $2,690. Property taxes in Fort Recovery are determined based on the tax assessed value, often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. By understanding Fort Recovery's property tax system, exploring available exemptions, and identifying potential reductions, homeowners and real estate investors can achieve substantial annual savings. Whether you reside in the heart of Fort Recovery or another part of Darke County, gaining insight into the local property tax system is essential for maximizing financial benefits.
Last Updated June 14, 2024
Fort Recovery, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1%
Estimate Property Tax Bill
$1,459
$1,354
Ownwell’s Fort Recovery Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fort Recovery with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fort Recovery 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 Fort Recovery, Ohio
Property taxes in Fort Recovery, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fort Recovery is 1.00%, which is higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Fort Recovery set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fort Recovery 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 Fort Recovery's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45846 zip code has the highest median property tax rate of 1.00%, while the same zip code also has the lowest median tax rate of 1.00%. Understanding how these cities compare with Fort Recovery provides valuable insights into the varying tax landscape across Darke County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fort Recovery Tax Rate
1.00%
Average Darke County Tax Rate
1.34%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fort Recovery, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45846 | 0.71% | 0.95% | 1.00% | 1.09% | 1.21% |
Source: Ownwell
Property Tax Assessment Values Across Fort Recovery, Ohio
In Fort Recovery, 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 Darke 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 Fort Recovery, 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. The median home price in the area is $145,910, with tax bills ranging from $814 at the 25th percentile to $2,499 at the 75th percentile. The highest and lowest median tax bill is $1,426 in zip code 45846. Being aware of these valuation processes in Fort Recovery helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Fort Recovery Assessed Value
$145,910
Average Darke County Assessed Value
$110,800
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fort Recovery, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45846 | $60,592 | $81,760 | $145,910 | $240,995 | $337,266 |
Source: Ownwell
Property Tax Bills Across Fort Recovery, Ohio
In Fort Recovery, property tax bills are calculated based on the assessed value of a home, which is determined by the Darke County tax assessor. The assessed value is a percentage of the property's market value. For instance, if the median home price in Fort Recovery is $145,910, the assessed value would be a proportion of this amount. The local tax rate is then applied to the assessed value to determine the yearly tax bill. Several factors influence the tax bill, including the property's location, its assessed value, and any applicable exemptions or deductions. For example, tax bills in Fort Recovery range from $814 at the 25th percentile to $3,394 at the 90th percentile, with the median tax bill being $1,426. This variability can significantly impact homeowners, as higher property taxes can result in increased monthly mortgage payments and overall housing costs. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark for understanding how Fort Recovery's property taxes stack up against other regions.
Average Fort Recovery Tax Bill
$1,426
Average Darke County Tax Bill
$1,406
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Fort Recovery, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45846 | $580 | $814 | $1,426 | $2,499 | $3,394 |
Source: Ownwell