Ridgeway, Hardin County, Ohio Property Taxes
The median property tax rate in Ridgeway, OH is 1.51%, 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 Ridgeway at $96,100, the typical annual property tax bill reaches $1,597, still below the national median of $2,690. Property taxes in Ridgeway are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Ridgeway'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 Ridgeway 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
Ridgeway, Hardin County, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.51%
Estimate Property Tax Bill
$1,451
$1,347
Ownwell’s Ridgeway Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ridgeway with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ridgeway 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 Ridgeway, Hardin County, Ohio
Property taxes in Ridgeway, Ohio, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ridgeway is 1.51%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Ridgeway set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ridgeway 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 Ridgeway's effective property tax rate to other areas in Ohio and the national median. For comparison, the 43345 zip code has the highest median property tax rate of 1.51%, while the same zip code also has the lowest median tax rate of 1.51%. Understanding how these figures compare with Ridgeway provides valuable insights into the varying tax landscape across Hardin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ridgeway Tax Rate
1.51%
Average Hardin County Tax Rate
1.61%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ridgeway, Hardin County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43345 | 0.94% | 1.32% | 1.51% | 1.70% | 1.97% |
Source: Ownwell
Property Tax Assessment Values Across Ridgeway, Hardin County, Ohio
In Ridgeway, 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 Hardin 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 Ridgeway, 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 example, Ridgeway's median home price is $96,100, with tax bills ranging from $780 at the 25th percentile to $3,966 at the 90th percentile. Being aware of these valuation processes in Ridgeway helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Ridgeway, Hardin County, Ohio
Source: Ownwell
$40,540
$100,298
$160,055
Average Ridgeway Assessed Value
$96,100
Average Hardin County Assessed Value
$82,480
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ridgeway, Hardin County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43345 | $8,528 | $48,658 | $96,100 | $169,892 | $320,588 |
Source: Ownwell
Property Tax Bills Across Ridgeway, Hardin County, Ohio
In Ridgeway, located in Hardin County, OH, property tax bills are calculated based on the assessed value of a home rather than its market value. The assessed value is determined by local tax assessors who evaluate the property periodically. Once the assessed value is established, the local tax rate is applied to calculate the annual property tax bill. For homeowners in Ridgeway, the median home price is $96,100, and the property tax rate in the area can lead to varied tax bills. Tax bills in Ridgeway show significant variation. The 25th percentile tax bill is around $780, while the 75th percentile tax bill reaches up to $2,735. For those at the higher end, the 90th percentile tax bill can be as high as $3,966. This range indicates how different factors, such as property size, location, and improvements, can influence the tax amount. The highest and lowest median tax bill in the area is $1,597, which is above the national median property tax rate of 0.99%, affecting homeowners' annual financial planning and budgets.
Average Ridgeway Tax Bill
$1,597
Average Hardin County Tax Bill
$1,448
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Ridgeway, Hardin County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43345 | $294 | $780 | $1,597 | $2,735 | $3,966 |
Source: Ownwell