Caledonia, Marion County, Ohio Property Taxes
The median property tax rate in Caledonia, Ohio is 1.43%, which is higher than both the national median of 0.99% and the Ohio state median of 1.80%. With a median home value of $116,000 in Caledonia, the typical annual property tax bill reaches $1,705, falling below the national median of $2,690. Property taxes in Caledonia 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 Caledonia'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 Caledonia 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
Caledonia, Marion County, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.43%
Estimate Property Tax Bill
$1,659
$1,539
Ownwell’s Caledonia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Caledonia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Caledonia 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 Caledonia, Marion County, Ohio
Property taxes in Caledonia, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Caledonia is 1.43%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Caledonia set these rates annually, and they can vary across different neighborhoods. Each year, Caledonia 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 Caledonia's effective property tax rate to other counties in Ohio and the national median. For comparison, the 43314 zip code 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 cities compare with Caledonia provides valuable insights into the varying tax landscape across Marion County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Caledonia Tax Rate
1.43%
Average Marion County Tax Rate
1.35%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Caledonia, Marion County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43314 | 1.19% | 1.40% | 1.43% | 1.48% | 1.67% |
Source: Ownwell
Property Tax Assessment Values Across Caledonia, Marion County, Ohio
In Caledonia, 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 Marion 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 Caledonia, 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 Caledonia helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 43314 has the highest and lowest median tax bill at $1,705, reflecting the uniformity in property tax assessments within the area.
Property Tax Assessment Values Across Caledonia, Marion County, Ohio
Source: Ownwell
$90,060
$149,260
$208,460
Average Caledonia Assessed Value
$116,000
Average Marion County Assessed Value
$101,515
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Caledonia, Marion County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43314 | $14,708 | $66,590 | $116,000 | $173,492 | $249,455 |
Source: Ownwell
Property Tax Bills Across Caledonia, Marion County, Ohio
In Caledonia, Ohio, located in Marion County, property tax bills are determined based on the assessed value of a property, which is typically a percentage of its market value. The median home price in Caledonia stands at $116,000, and the property tax rate is applied to this assessed value to calculate the tax bill. Factors such as property improvements, neighborhood trends, and local government budgets can influence the assessed value and, consequently, the tax bill. Homeowners in Caledonia can expect their property tax bills to vary significantly. At the 25th percentile, the tax bill is around $1,017, while at the 75th percentile, it rises to approximately $2,512. For those at the 90th percentile, the tax bill can reach up to $3,586. Comparing these figures to the national median property tax rate of 0.99%, Caledonia's property taxes can be seen as relatively moderate. This variability in tax bills can significantly impact homeowners, influencing their financial planning and housing affordability.
Average Caledonia Tax Bill
$1,705
Average Marion County Tax Bill
$1,434
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Caledonia, Marion County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43314 | $262 | $1,017 | $1,705 | $2,512 | $3,586 |
Source: Ownwell