Mendon, Mercer County, Ohio Property Taxes
The median property tax rate in Mendon, OH is 1.54%, considerably higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With the median home value in Mendon at $75,700, the typical annual property tax bill reaches $1,144, which is below the national median of $2,690. Property taxes in Mendon 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 Mendon'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 Mendon 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
Mendon, Mercer County, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.54%
Estimate Property Tax Bill
$1,166
$1,082
Ownwell’s Mendon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mendon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mendon 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 Mendon, Mercer County, Ohio
Property taxes in Mendon, Ohio, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mendon is 1.54%, which is significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Mendon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mendon 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 Mendon's effective property tax rate to other counties in Ohio and the national median. For comparison, the ZIP code 45862 has both the highest and lowest median property tax rate of 1.54%. Understanding how these areas compare with Mendon 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 Mendon Tax Rate
1.54%
Average Mercer County Tax Rate
1.53%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mendon, Mercer County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45862 | 1.14% | 1.44% | 1.54% | 1.58% | 1.62% |
Source: Ownwell
Property Tax Assessment Values Across Mendon, Mercer County, Ohio
In Mendon, 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 Mendon, 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 Mendon 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 $1,144 in the zip code 45862, which is also the lowest.
Property Tax Assessment Values Across Mendon, Mercer County, Ohio
Source: Ownwell
$75,700
$158,050
$240,400
Average Mendon Assessed Value
$75,700
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 Mendon, Mercer County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45862 | $2,230 | $34,000 | $75,700 | $116,200 | $162,700 |
Source: Ownwell
Property Tax Bills Across Mendon, Mercer County, Ohio
In Mendon, located in Mercer County, OH, property tax bills are calculated based on the assessed value of the property. The assessed value is a percentage of the market value determined by the county assessor. Factors such as location, property size, and home improvements can influence this assessed value. Once the assessed value is determined, the local tax rate is applied to calculate the annual tax bill. For Mendon, the tax rate is compared to the national median property tax rate of 0.99%. Homeowners in Mendon typically see tax bills that vary widely. For instance, the 25th percentile tax bill is $683, while the 75th percentile tax bill reaches $1,725. At the 90th percentile, homeowners might pay up to $2,380. These variations can significantly impact household budgets, especially when compared to the national median. Understanding these factors can help homeowners anticipate their property tax obligations and plan accordingly.
Average Mendon Tax Bill
$1,144
Average Mercer County Tax Bill
$1,932
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Mendon, Mercer County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45862 | $152 | $683 | $1,144 | $1,725 | $2,380 |
Source: Ownwell