Cardington, Ohio Property Taxes
The median property tax rate in Cardington, OH is 1.29%, which is higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With the median home value in Cardington at $194,740, the typical annual property tax bill amounts to $2,552, which is below the national median of $2,690. Property taxes in Cardington are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Cardington'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 Cardington or another part of Marion County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Cardington, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.29%
Estimate Property Tax Bill
$2,512
$2,331
Ownwell’s Cardington Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cardington with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cardington 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 Cardington, Ohio
Property taxes in Cardington, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cardington is 1.29%, which is significantly higher than the U.S. national median of 0.99%. Local government entities within Cardington set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cardington 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 Cardington's effective property tax rate to other areas in Ohio and the national median. For comparison, the zip code 43315 has both the highest and lowest median property tax rate of 1.29%. Understanding how these areas compare with Cardington 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 Cardington Tax Rate
1.29%
Average Marion County Tax Rate
1.35%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cardington, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43315 | 1.11% | 1.27% | 1.29% | 1.30% | 1.58% |
Source: Ownwell
Property Tax Assessment Values Across Cardington, Ohio
In Cardington, 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 Cardington, 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 Cardington helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 43315 has both the highest and lowest median tax bill, which is $2552.
Average Cardington Assessed Value
$194,740
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 Cardington, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43315 | $112,196 | $144,280 | $194,740 | $253,290 | $331,318 |
Source: Ownwell
Property Tax Bills Across Cardington, Ohio
In Cardington, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is a percentage of the market value of the property. For instance, the median home price in Cardington is $194,740. Given the national median property tax rate of 0.99%, homeowners in Cardington can expect their property tax bills to vary significantly. Factors such as property location, home improvements, and market conditions play a critical role in determining the assessed value. In Cardington, the 25th percentile tax bill is around $1,897, indicating that some homeowners pay less due to lower assessed values or applicable exemptions. Conversely, those in the 75th percentile face tax bills of approximately $3,393, while the 90th percentile can reach up to $4,278. These property taxes fund essential community services such as schools, public safety, and infrastructure, directly impacting homeowners by maintaining and enhancing local amenities and services.
Average Cardington Tax Bill
$2,552
Average Marion County Tax Bill
$1,434
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Cardington, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43315 | $1,440 | $1,897 | $2,552 | $3,393 | $4,278 |
Source: Ownwell