Radnor, Ohio Property Taxes
The median property tax rate in Radnor, Ohio is 1.29%, which is higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Radnor at $268,000, the typical annual property tax bill reaches $3,257, surpassing the national median of $2,690. Property taxes in Radnor are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Radnor'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 Radnor 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
Radnor, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.29%
Estimate Property Tax Bill
$3,457
Ownwell’s Radnor Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Radnor with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Radnor 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 Radnor, Ohio
Property taxes in Radnor, Ohio, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Radnor is 1.29%, which is significantly higher than the U.S. national median of 0.99%. Local government entities within Radnor set these rates annually, and they can vary significantly across different neighborhoods. Each year, Radnor 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 Radnor's effective property tax rate to other counties in Ohio and the national median. For comparison, the 43066 zip code has the highest median property tax rate of 1.29%, while the same zip code also has the lowest median tax rate of 1.29%. Understanding how these cities compare with Radnor provides valuable insights into the varying tax landscape across Delaware County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Radnor Tax Rate
1.29%
Average Delaware County Tax Rate
1.78%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Radnor, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43066 | 1.09% | 1.15% | 1.29% | 1.30% | 1.32% |
Source: Ownwell
Property Tax Assessment Values Across Radnor, Ohio
In Radnor, 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 Delaware County Auditor 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 Radnor, 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 Radnor helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 43066 at $3,257, while the lowest is also 43066 at $3,257, reflecting consistent property tax assessments in the area.
Average Radnor Assessed Value
$268,000
Average Delaware County Assessed Value
$406,400
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Radnor, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43066 | $108,680 | $176,750 | $268,000 | $395,600 | $496,760 |
Source: Ownwell
Property Tax Bills Across Radnor, Ohio
In Radnor, Delaware County, OH, property tax bills are calculated based on the assessed value of the home, which is determined by the county assessor. The assessed value is a percentage of the market value of the property. Factors such as property location, size, condition, and market trends influence this valuation. Once the assessed value is determined, the local tax rate is applied to calculate the annual tax bill. Homeowners in Radnor can expect property tax bills that vary significantly. For instance, the 25th percentile tax bill is approximately $2,140, while the 75th percentile tax bill is around $4,871, and the 90th percentile tax bill can reach up to $5,967. These figures are higher than the national median property tax rate of 0.99%, reflecting the relatively higher property values in the area. This variation in tax bills can significantly impact homeowners' financial planning and the overall affordability of owning a home in Radnor.
Average Radnor Tax Bill
$3,257
Average Delaware County Tax Bill
$7,016
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Radnor, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43066 | $1,297 | $2,140 | $3,257 | $4,871 | $5,967 |
Source: Ownwell