Sedalia, Madison County, Ohio Property Taxes
The median property tax rate in Sedalia, OH is 1.49%, which is considerably higher than the national median of 0.99% but lower than Ohio's state median of 1.80%. With the median home value in Sedalia being $80,495, the typical annual property tax bill reaches $1,165, still below the national median of $2,690. Property taxes in Sedalia are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Sedalia'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 Sedalia 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
Sedalia, Madison County, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.49%
Estimate Property Tax Bill
$1,199
$1,113
Ownwell’s Sedalia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sedalia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sedalia 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 Madison County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Sedalia, Madison County, Ohio
Property taxes in Sedalia, Ohio, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sedalia is 1.49%, higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Sedalia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sedalia 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 Sedalia's effective property tax rate to other counties in Ohio and the national median. For comparison, the 43151 zip code has the highest median property tax rate of 1.49%, while the 43151 zip code also has the lowest median tax rate of 1.49%. Understanding how these cities compare with Sedalia provides valuable insights into the varying tax landscape across Madison County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Sedalia Tax Rate
1.49%
Average Madison County Tax Rate
1.59%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sedalia, Madison County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43151 | 1.19% | 1.45% | 1.49% | 1.51% | 1.55% |
Source: Ownwell
Property Tax Assessment Values Across Sedalia, Madison County, Ohio
In Sedalia, 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 Madison 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 Sedalia, 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 Sedalia helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 43151, with a value of $1,165.
Property Tax Assessment Values Across Sedalia, Madison County, Ohio
Source: Ownwell
$78,580
$165,693
$252,805
Average Sedalia Assessed Value
$80,495
Average Madison County Assessed Value
$142,200
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Sedalia, Madison County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43151 | $16,094 | $43,045 | $80,495 | $103,298 | $124,853 |
Source: Ownwell
Property Tax Bills Across Sedalia, Madison County, Ohio
In Sedalia, located in Madison County, 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 Sedalia is $80,495, and the property tax rate is applied to this assessed value to determine the tax bill. Factors such as the property’s location, size, and any improvements made to it can influence its assessed value. The tax bill can vary significantly among homeowners. For instance, the 25th percentile tax bill is around $510, while the 75th percentile tax bill reaches $1,462. At the 90th percentile, homeowners might see tax bills as high as $1,806. These variations highlight how different factors, including property value and local tax rates, impact the final amount owed. Compared to the national median property tax rate of 0.99%, Sedalia’s rates can be seen as relatively moderate, providing some relief to homeowners in terms of their annual property tax obligations.
Average Sedalia Tax Bill
$1,165
Average Madison County Tax Bill
$2,428
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Sedalia, Madison County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43151 | $250 | $510 | $1,165 | $1,462 | $1,806 |
Source: Ownwell