Coldwater, Ohio Property Taxes
The median property tax rate in Coldwater, OH is 1.29%, slightly higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With a median home value of $155,300, the typical annual property tax bill in Coldwater reaches $1,993, which is below the national median of $2,690. Property taxes here are calculated based on the assessed value, which is generally less than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Coldwater'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 Coldwater 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
Coldwater, Ohio Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.8%
Estimate Property Tax Bill
$3,600
Ownwell’s Coldwater Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Coldwater with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Coldwater 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 Coldwater, Ohio
Property taxes in Coldwater, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Coldwater is 1.29%, which is higher than the U.S. national median of 0.99%. Local government entities within Coldwater set these rates annually, and they can vary significantly across different neighborhoods. Each year, Coldwater 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 Coldwater's effective property tax rate to other areas in Ohio and the national median. For comparison, the zip code 45828 has both the highest and lowest median property tax rate of 1.29%. Understanding how these areas compare with Coldwater provides valuable insights into the varying tax landscape across Mercer County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Coldwater Tax Rate
1.29%
Average Mercer County Tax Rate
1.53%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Coldwater, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45828 | 1.13% | 1.29% | 1.29% | 1.32% | 1.32% |
Source: Ownwell
Property Tax Assessment Values Across Coldwater, Ohio
In Coldwater, 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 Mercer 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 Coldwater, 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. The median home price in the area is $155,300, with property tax bills ranging from $1,519 at the 25th percentile to $4,013 at the 90th percentile. Being aware of these valuation processes in Coldwater helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Coldwater Assessed Value
$155,300
Average Mercer County Assessed Value
$129,600
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Coldwater, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45828 | $84,320 | $117,750 | $155,300 | $223,400 | $309,000 |
Source: Ownwell
Property Tax Bills Across Coldwater, Ohio
Property tax bills in Coldwater, Mercer County, OH, are calculated based on the assessed value of a property, which is a percentage of its market value. The local tax rate, or millage rate, is then applied to this assessed value to determine the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value. For homeowners in Coldwater, the median home price is $155,300, and property tax bills can vary significantly. For instance, the 25th percentile tax bill is $1,519, while the 75th percentile tax bill is $2,885, and the 90th percentile tax bill can reach up to $4,013. The median property tax rate in Coldwater is notably higher than the national median property tax rate of 0.99%. This variation in tax bills can significantly impact homeowners, influencing their overall housing costs and financial planning. Understanding these factors helps homeowners anticipate their annual property tax obligations and manage their budgets more effectively.
Average Coldwater Tax Bill
$1,993
Average Mercer County Tax Bill
$1,932
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Coldwater, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45828 | $1,117 | $1,519 | $1,993 | $2,885 | $4,013 |
Source: Ownwell