Raymond, Ohio Property Taxes
The median property tax rate in Raymond, OH is 1.43%, considerably higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With a median home value of $173,985 in Raymond, the typical annual property tax bill reaches $2,524, which is slightly below the national median of $2,690. Property taxes in Raymond are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Raymond'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 Raymond 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
Raymond, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.43%
Estimate Property Tax Bill
$2,488
$2,309
Ownwell’s Raymond Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Raymond with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Raymond 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 Raymond, Ohio
Property taxes in Raymond, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Raymond is 1.43%, which is higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Raymond set these rates annually, and they can vary significantly across different neighborhoods. Each year, Raymond 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 Raymond's effective property tax rate to other counties in Ohio and the national median. For comparison, the zip code 43067 has the highest median property tax rate of 1.43%, while the same zip code also has the lowest median tax rate of 1.43%. Understanding how these areas compare with Raymond provides valuable insights into the varying tax landscape across Logan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Raymond Tax Rate
1.43%
Average Logan County Tax Rate
1.65%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Raymond, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43067 | 1.32% | 1.36% | 1.43% | 1.51% | 1.55% |
Source: Ownwell
Property Tax Assessment Values Across Raymond, Ohio
In Raymond, 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 Logan 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 Raymond, 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. The highest median tax bill in Raymond is $2,524 in the 43067 zip code, while the lowest is also $2,524 in the same zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Raymond Assessed Value
$173,985
Average Logan County Assessed Value
$106,220
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Raymond, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43067 | $156,869 | $163,288 | $173,985 | $184,682 | $191,101 |
Source: Ownwell
Property Tax Bills Across Raymond, Ohio
In Raymond, 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 Raymond is $173,985. Property taxes in this area are influenced by the local tax rate, which is applied to the assessed value of the property. Homeowners in Raymond can expect a range of property tax bills, with the 25th percentile paying around $2,243 and the 75th percentile paying approximately $2,805. At the 90th percentile, the tax bill can rise to $2,974. These property taxes fund essential public services such as schools, roads, and emergency services, directly impacting the quality of life in the community. Compared to the national median property tax rate of 0.99%, Raymond's tax bills reflect the local economic conditions and public service needs. Homeowners should be aware of these factors as they can significantly affect annual expenses and overall affordability of owning property in this area.
Average Raymond Tax Bill
$2,524
Average Logan County Tax Bill
$1,716
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Raymond, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43067 | $2,074 | $2,243 | $2,524 | $2,805 | $2,974 |
Source: Ownwell