Grand Rapids, Ohio Property Taxes
The median property tax rate in Grand Rapids, Ohio is 1.79%, slightly lower than the state median of 1.80% but significantly higher than the national median of 0.99%. With a median home value of $147,650, the typical annual property tax bill in Grand Rapids amounts to $2,567, which is below the national median of $2,690. Property taxes here are calculated based on the tax assessed value, which is often less than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Grand Rapids' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Grand Rapids 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
Grand Rapids, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.79%
Estimate Property Tax Bill
$2,643
Ownwell’s Grand Rapids Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Grand Rapids with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Grand Rapids to provide an accurate estimate of your property tax bill. This insightful tool helps you understand your potential tax liabilities. For those interested in seeing trends on a neighborhood level, you can scroll down to find more localized information. Your property’s assessed value is determined by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Grand Rapids, Ohio
Property taxes in Grand Rapids, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Grand Rapids stands at 1.79%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Grand Rapids set these rates annually, and they can vary significantly across different neighborhoods. Each year, Grand Rapids 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 Grand Rapids' effective property tax rate to other counties in Ohio and the national median. For comparison, the 43522 zip code has the highest median property tax rate of 1.79%, while the same zip code also has the lowest median tax rate of 1.79%. Understanding how these cities compare with Grand Rapids provides valuable insights into the varying tax landscape across Lucas County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Grand Rapids Tax Rate
1.79%
Average Lucas County Tax Rate
2.38%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Grand Rapids, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43522 | 1.51% | 1.78% | 1.79% | 1.97% | 1.99% |
Source: Ownwell
Property Tax Assessment Values Across Grand Rapids, Ohio
In Grand Rapids, 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 local 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 Grand Rapids, 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 Grand Rapids helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the zip code 43522 has the highest median tax bill at $2,567. By understanding these valuation processes, property owners can identify opportunities for appealing assessments or applying for exemptions to effectively manage their tax burden.
Average Grand Rapids Assessed Value
$147,650
Average Lucas County Assessed Value
$95,600
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Grand Rapids, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43522 | $15,590 | $95,500 | $147,650 | $202,275 | $248,880 |
Source: Ownwell
Property Tax Bills Across Grand Rapids, Ohio
In Grand Rapids, OH, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the market value of the property. Various factors such as property size, location, and improvements contribute to this valuation. Homeowners in Grand Rapids can expect tax bills to vary widely, with the 25th percentile at $1,677 and the 75th percentile reaching $3,682. The 90th percentile tax bill can go up to $4,670, indicating a significant range depending on property specifics. Compared to the national median property tax rate of 0.99%, Grand Rapids homeowners face a diverse range of tax obligations. The highest median tax bill in the county is $2,567 in the 43522 zip code. These property taxes fund essential services like public schools, infrastructure, and emergency services, directly impacting the quality of life for residents. Understanding these factors helps homeowners anticipate their financial responsibilities and plan accordingly.
Average Grand Rapids Tax Bill
$2,567
Average Lucas County Tax Bill
$2,348
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Grand Rapids, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43522 | $381 | $1,677 | $2,567 | $3,682 | $4,670 |
Source: Ownwell