Russells Point, Ohio Property Taxes
The median property tax rate in Russells Point, OH is 1.97%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Russells Point at $62,590, the typical annual property tax bill reaches $1,182, exceeding the national median of $2,690. Property taxes in Russells Point 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 Russells Point'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 Russells Point 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
Russells Point, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.97%
Estimate Property Tax Bill
$1,233
Ownwell’s Russells Point Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Russells Point with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Russells Point to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in more localized trends, additional neighborhood-level information is available below. Your property’s assessed value is determined by the county for property tax calculations, including any applicable exemptions.
Property Tax Rates Across Russells Point, Ohio
Property taxes in Russells Point, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Russells Point is 1.97%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Russells Point set these rates annually, and they can vary significantly across different neighborhoods. Each year, Russells Point 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 Russells Point's effective property tax rate to other counties in Ohio and the national median. For comparison, the 43348 zip code has the highest median property tax rate of 1.97%, while the 43348 zip code also has the lowest median tax rate of 1.97%. Understanding how these cities compare with Russells Point 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 Russells Point Tax Rate
1.97%
Average Logan County Tax Rate
1.65%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Russells Point, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43348 | 1.70% | 1.75% | 1.97% | 2.13% | 2.17% |
Source: Ownwell
Property Tax Assessment Values Across Russells Point, Ohio
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Russells Point, Ohio. The market value represents the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors such as 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 Russells Point, 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 Russells Point helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 43348 has the highest and lowest median tax bill at $1,182.
Average Russells Point Assessed Value
$62,590
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 Russells Point, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43348 | $7,904 | $29,540 | $62,590 | $127,270 | $280,018 |
Source: Ownwell
Property Tax Bills Across Russells Point, Ohio
In Russells Point, property tax bills are calculated based on the assessed value of the home. The local government determines this value, which is typically a percentage of the market value. Homeowners in Russells Point, Logan County, can expect their property tax bills to vary significantly. For instance, the tax bill at the 25th percentile is around $506, while at the 75th percentile, it jumps to $2,610. The 90th percentile tax bill can be as high as $5,884. These variations are influenced by multiple factors, including the home's location, size, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, Russells Point’s property taxes can be quite variable. The highest and lowest median tax bill in the area is recorded at $1,182 in the 43348 zip code. Understanding these factors can help homeowners better anticipate their property tax obligations and manage their finances accordingly.
Average Russells Point Tax Bill
$1,182
Average Logan County Tax Bill
$1,716
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Russells Point, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43348 | $156 | $506 | $1,182 | $2,610 | $5,884 |
Source: Ownwell