Cadiz, Ohio Property Taxes
The median property tax rate in Cadiz, OH is 1.37%, which is higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With a median home value of $67,200 in Cadiz, the typical annual property tax bill amounts to $858, which is below the national median of $2,690. Property taxes in Cadiz are calculated based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Cadiz'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 Cadiz 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
Cadiz, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.37%
Estimate Property Tax Bill
$921
$854
Ownwell’s Cadiz Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cadiz with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cadiz 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 Cadiz, Ohio
Property taxes in Cadiz, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cadiz is 1.60%, significantly higher than both the Ohio state median of 1.36% and the U.S. national median of 0.99%. Local government entities within Cadiz set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cadiz 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 Cadiz's effective property tax rate to other counties in Ohio and the national median. For comparison, the 43907 zip code has the highest median property tax rate of 1.60%, while the same 43907 zip code also has the lowest median tax rate of 1.60%. Understanding how these cities compare with Cadiz provides valuable insights into the varying tax landscape across Harrison County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cadiz Tax Rate
1.37%
Average Harrison County Tax Rate
1.35%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cadiz, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43907 | 0.80% | 1.22% | 1.37% | 1.49% | 1.49% |
Source: Ownwell
Property Tax Assessment Values Across Cadiz, Ohio
In Cadiz, 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 Harrison 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 Cadiz, 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 Cadiz helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Cadiz are both $858.00, found in the 43907 zip code.
Average Cadiz Assessed Value
$67,200
Average Harrison County Assessed Value
$63,430
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cadiz, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43907 | $16,749 | $39,962 | $67,200 | $106,342 | $185,111 |
Source: Ownwell
Property Tax Bills Across Cadiz, Ohio
In Cadiz, located in Harrison County, OH, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Cadiz stands at $67,200. Property taxes are then determined by applying the local tax rate to this assessed value. Factors such as property improvements, neighborhood amenities, and overall market conditions can influence the assessed value. For homeowners, this means that any changes in the local real estate market or enhancements to their property can impact their tax bill. Homeowners in Cadiz can expect their tax bills to vary significantly. The 25th percentile tax bill is around $477, while those at the 75th percentile pay approximately $1,368. At the 90th percentile, tax bills can reach up to $2,170. Compared to the national median property tax rate of 0.99%, Cadiz homeowners experience a range of tax obligations that reflect the local real estate dynamics and valuation methods. This variability affects budgeting and financial planning for homeowners in the area.
Average Cadiz Tax Bill
$858
Average Harrison County Tax Bill
$839
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Cadiz, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43907 | $202 | $477 | $858 | $1,368 | $2,170 |
Source: Ownwell