Swanton, Ohio Property Taxes
The median property tax rate in Swanton, OH is 1.73%, which is considerably higher than the national median of 0.99% but slightly below Ohio's state median of 1.80%. With the median home value in Swanton at $124,100, the typical annual property tax bill reaches $2,236, which is below the national median of $2,690. Property taxes in Swanton 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 Swanton’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 Swanton 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
Swanton, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.73%
Estimate Property Tax Bill
$2,147
$1,992
Ownwell’s Swanton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Swanton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Swanton 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 Swanton, Ohio
Property taxes in Swanton, Ohio, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Swanton is 1.73%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Swanton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Swanton 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 Swanton's effective property tax rate to other counties in Ohio and the national median. For comparison, the 43558 zip code has the highest median property tax rate of 1.73%, while the same zip code also has the lowest median tax rate of 1.73%. Understanding how these cities compare with Swanton 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 Swanton Tax Rate
1.73%
Average Lucas County Tax Rate
2.38%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Swanton, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43558 | 1.46% | 1.66% | 1.73% | 1.96% | 2.40% |
Source: Ownwell
Property Tax Assessment Values Across Swanton, Ohio
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Swanton, Ohio. 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 Lucas 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. Assessment notices in Swanton 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. For example, the median home price in Swanton is $124,100, with tax bills ranging from $1,028 at the 25th percentile to $4,577 at the 90th percentile. The highest median tax bill is $2,236 in the 43558 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and find opportunities to protest assessments or apply for exemptions to manage their tax burden effectively.
Average Swanton Assessed Value
$124,100
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 Swanton, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43558 | $6,300 | $38,150 | $124,100 | $183,400 | $246,900 |
Source: Ownwell
Property Tax Bills Across Swanton, Ohio
In Swanton, Lucas County, OH, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value typically represents a percentage of the market value of the property. Homeowners in Swanton can expect varying tax bills depending on the value of their property and the local tax rate. For instance, the median home price in Swanton is $124,100, and property tax bills can range significantly. The 25th percentile tax bill is around $1,028, while the 75th percentile reaches up to $3,321, and the 90th percentile can be as high as $4,577. These figures illustrate the wide range of tax liabilities homeowners might face. Compared to the national median property tax rate of 0.99%, Swanton's property tax rates can significantly impact homeowners' annual expenses, making it crucial for residents to understand how their tax bills are determined and what factors, such as property value and local tax rates, are considered in the calculation.
Average Swanton Tax Bill
$2,236
Average Lucas County Tax Bill
$2,348
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Swanton, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43558 | $145 | $1,028 | $2,236 | $3,321 | $4,577 |
Source: Ownwell