Collins, Ohio Property Taxes
The median property tax rate in Collins, OH is 1.45%, which is significantly higher than the national median of 0.99%, yet lower than Ohio's state median of 1.80%. With the median home value in Collins at $148,660, the typical annual property tax bill amounts to $1,948, falling below the national median of $2,690. Property taxes in Collins are determined based on the tax assessed value, which is often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Collins' property tax system, exploring available exemptions, and identifying potential reductions can lead to considerable annual savings. Whether you reside in the heart of Collins or another area within the city, gaining insight into the local property tax system can be advantageous for both homeowners and real estate investors.
Last Updated June 14, 2024
Collins, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.45%
Estimate Property Tax Bill
$2,156
$2,000
Ownwell’s Collins Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Collins with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Collins 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 Collins, Ohio
Property taxes in Collins, Ohio, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Collins is 1.45%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Collins set these rates annually, and they can vary significantly across different neighborhoods. Each year, Collins 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 Collins's effective property tax rate to other counties in Ohio and the national median. For comparison, the 44826 zip code has the highest median property tax rate of 1.45%, while the same zip code also has the lowest median tax rate of 1.45%. Understanding how these cities compare with Collins 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 Collins Tax Rate
1.45%
Average Erie County Tax Rate
1.63%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Collins, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44826 | 0.99% | 1.21% | 1.45% | 1.45% | 1.48% |
Source: Ownwell
Property Tax Assessment Values Across Collins, Ohio
In Collins, 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 Collins, 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 Collins helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 44826 in Collins has the highest median tax bill at $1,948, which is crucial information for residents aiming to understand their property tax landscape.
Average Collins Assessed Value
$148,660
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 Collins, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44826 | $80,630 | $111,800 | $148,660 | $200,340 | $339,240 |
Source: Ownwell
Property Tax Bills Across Collins, Ohio
In Collins, 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 is a percentage of the property's market value. Factors such as location, property size, and improvements can influence this assessment. Homeowners in Collins typically pay property taxes that fall within a range, with the 25th percentile tax bill at $1,517 and the 75th percentile reaching $2,683. For those in the 90th percentile, tax bills can go up to $3,403. The median home price in Collins is $148,660, which provides a context for understanding these tax amounts. Compared to the national median property tax rate of 0.99%, Collins homeowners may find their tax rates either favorable or unfavorable depending on their specific circumstances. These property taxes fund essential services like schools, public safety, and infrastructure, directly impacting the community’s quality of life. Thus, understanding how these bills are calculated helps homeowners manage their finances and anticipate annual costs.
Average Collins Tax Bill
$1,948
Average Erie County Tax Bill
$2,003
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Collins, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44826 | $1,150 | $1,517 | $1,948 | $2,683 | $3,403 |
Source: Ownwell