Castalia, Ohio Property Taxes
The median property tax rate in Castalia, OH is 1.51%, which is notably higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With the median home value in Castalia at $146,320, the typical annual property tax bill amounts to $2,161, which is below the national median of $2,690. Property taxes in Castalia are calculated based on the tax assessed value, which is generally lower than the market value due to various exemptions such as primary residence and agricultural exemptions. By understanding Castalia's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners can achieve significant annual savings. Whether you're in the heart of Castalia or another part of the city, gaining insights into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Castalia, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.51%
Estimate Property Tax Bill
$2,209
$2,050
Ownwell’s Castalia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Castalia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Castalia 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 Castalia, Ohio
Property taxes in Castalia, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Castalia is 1.51%, which is higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Castalia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Castalia 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 Castalia's effective property tax rate to other counties in Ohio and the national median. For comparison, the zip code 44824 has the highest median property tax rate of 1.51%, while the lowest median tax rate is also 1.51%. Understanding how these areas compare with Castalia provides valuable insights into the varying tax landscape across Erie County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Castalia Tax Rate
1.51%
Average Erie County Tax Rate
1.63%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Castalia, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44824 | 1.22% | 1.34% | 1.51% | 1.54% | 1.80% |
Source: Ownwell
Property Tax Assessment Values Across Castalia, Ohio
In Castalia, 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 Erie 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 Castalia, 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 Castalia helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For example, the highest median tax bill in Castalia is $2161 in the 44824 zip code, while the lowest median tax bill is also $2161 in the same zip code, indicating a consistent tax landscape across the area.
Average Castalia Assessed Value
$146,320
Average Erie County Assessed Value
$126,310
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Castalia, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44824 | $72,490 | $109,908 | $146,320 | $194,380 | $251,660 |
Source: Ownwell
Property Tax Bills Across Castalia, Ohio
In Castalia, located in Erie 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 typically represents a percentage of the property's market value. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. Several factors influence the final tax bill, including the home's location, size, and age, as well as any applicable exemptions or abatements. For instance, in Castalia, the median home price is $146,320, and property tax bills can vary significantly. Homeowners in the 25th percentile pay around $1,634, while those in the 75th percentile may see bills as high as $2,825. At the 90th percentile, tax bills can reach up to $3,723. These property taxes are crucial for funding local services such as schools, public safety, and infrastructure. Homeowners must budget for these expenses, which can impact their overall financial planning. Compared to the national median property tax rate of 0.99%, Castalia's rates reflect the local economic and market conditions.
Average Castalia Tax Bill
$2,161
Average Erie County Tax Bill
$2,003
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Castalia, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44824 | $1,061 | $1,634 | $2,161 | $2,825 | $3,723 |
Source: Ownwell