Collins, Ohio Property Taxes
The median property tax rate in Collins, OH is 1.29%, 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 $124,630 in Collins, the typical annual property tax bill amounts to $1,567, falling below the national median of $2,690. Property taxes in Collins are calculated based on the tax assessed value, which often comes in lower than the market value due to exemptions like the primary residence and agricultural exemptions. By understanding Collins' property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners can achieve significant annual savings. Whether you're in the heart of Collins or another part of the city, grasping the local property tax system will benefit 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
1.29%
Estimate Property Tax Bill
$1,608
$1,492
Ownwell’s Collins Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate 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, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Collins is 1.29%, which is 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' 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 1.29%, while the same zip code also has the lowest median tax rate of 1.29%. Understanding how these cities compare with Collins provides valuable insights into the varying tax landscape across Huron County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Collins Tax Rate
1.29%
Average Huron County Tax Rate
1.36%
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 | 1.02% | 1.22% | 1.29% | 1.30% | 1.32% |
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 Huron 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 highest median tax bill in Collins is $1,567 in the 44826 zip code, which is notably higher than the national median property tax rate of 0.99%.
Average Collins Assessed Value
$124,630
Average Huron County Assessed Value
$102,520
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 | $15,661 | $83,338 | $124,630 | $162,085 | $206,901 |
Source: Ownwell
Property Tax Bills Across Collins, Ohio
In Collins, located in Huron County, OH, property tax bills are calculated based on the assessed value of a home. The assessed value is a percentage of the market value determined by the county assessor. Homeowners in Collins can expect property tax bills that vary significantly depending on their home's value. For instance, the median home price in Collins is $124,630. Property tax bills in the 25th percentile are around $1,099, while those in the 75th percentile reach approximately $2,076. At the 90th percentile, tax bills can soar to $2,743. These figures highlight the range of property tax burdens homeowners might face. Several factors influence the tax bill, including property characteristics, local tax rates, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, Collins homeowners may experience different impacts on their finances. Understanding these factors helps homeowners anticipate their property tax obligations and plan their budgets more effectively.
Average Collins Tax Bill
$1,567
Average Huron County Tax Bill
$1,432
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 | $326 | $1,099 | $1,567 | $2,076 | $2,743 |
Source: Ownwell