Rutland, Ohio Property Taxes
The median property tax rate in Rutland, Ohio is 1.15%, which is higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With a median home value of $39,870 in Rutland, the typical annual property tax bill amounts to $458, which is significantly below the national median of $2,690. Property taxes in Rutland are calculated based on the tax assessed value, often lower than the market value due to exemptions such as the primary residence and agricultural exemptions. Understanding Rutland's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Rutland or another part of Meigs County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Rutland, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.15%
Estimate Property Tax Bill
$459
$425
Ownwell’s Rutland Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rutland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rutland 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 Rutland, Ohio
Property taxes in Rutland, Ohio, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Rutland is 1.15%, higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Rutland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rutland 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 Rutland's effective property tax rate to other counties in Ohio and the national median. For comparison, the zip code 45775 has the highest median property tax rate of 1.15%, while the same zip code also has the lowest median tax rate of 1.15%. Understanding how these cities compare with Rutland provides valuable insights into the varying tax landscape across Meigs County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Rutland Tax Rate
1.15%
Average Meigs County Tax Rate
1.16%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rutland, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45775 | 0.77% | 1.12% | 1.15% | 1.32% | 1.35% |
Source: Ownwell
Property Tax Assessment Values Across Rutland, Ohio
In Rutland, 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 Meigs 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 Rutland, 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 Rutland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $458.00 in the 45775 zip code, while the lowest is also $458.00 in the same zip code.
Average Rutland Assessed Value
$39,870
Average Meigs County Assessed Value
$39,810
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Rutland, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45775 | $3,500 | $12,540 | $39,870 | $85,290 | $128,564 |
Source: Ownwell
Property Tax Bills Across Rutland, Ohio
Property tax bills in Rutland, located in Meigs County, Ohio, are calculated based on the assessed value of a property and the local tax rate. The assessed value is a percentage of the market value, and this figure is then multiplied by the tax rate to determine the annual tax bill. For homeowners in Rutland, the median home price is $39,870. Property tax bills can vary significantly; for instance, the 25th percentile tax bill is $143, while the 75th percentile tax bill is $890. At the higher end, the 90th percentile tax bill reaches $1,390. Homeowners in this area face varying property tax bills depending on factors like property size, location, and market conditions. Compared to the national median property tax rate of 0.99%, Rutland's property tax rate can lead to a relatively moderate financial burden. Understanding these factors can help homeowners better anticipate their annual tax obligations and manage their finances more effectively.
Average Rutland Tax Bill
$458
Average Meigs County Tax Bill
$451
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Rutland, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45775 | $42 | $143 | $458 | $890 | $1,390 |
Source: Ownwell