Rockford, Ohio Property Taxes
The median property tax rate in Rockford, OH is 1.51%, which is 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 Rockford at $101,700, the typical annual property tax bill reaches $1,518, exceeding the national median of $2,690. Property taxes in Rockford 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 Rockford'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 Rockford 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
Rockford, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.51%
Estimate Property Tax Bill
$1,536
$1,425
Ownwell’s Rockford Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rockford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rockford 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 Rockford, Ohio
Property taxes in Rockford, Ohio, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Rockford is 1.51%, significantly higher than the U.S. national median of 0.99%. Local government entities within Rockford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rockford 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 Rockford's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45882 zip code has the highest median property tax rate of 1.51%, while the same zip code also has the lowest median tax rate of 1.51%. Understanding how these cities compare with Rockford 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 Rockford Tax Rate
1.51%
Average Mercer County Tax Rate
1.53%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rockford, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45882 | 1.20% | 1.46% | 1.51% | 1.57% | 1.58% |
Source: Ownwell
Property Tax Assessment Values Across Rockford, Ohio
In Rockford, 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 Rockford, 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 Rockford helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 45882, with a value of $1,518, which is significantly below the national median property tax rate of 0.99%.
Average Rockford Assessed Value
$101,700
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 Rockford, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45882 | $18,940 | $73,350 | $101,700 | $145,100 | $187,960 |
Source: Ownwell
Property Tax Bills Across Rockford, Ohio
In Rockford, Mercer County, OH, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is a percentage of the market value, which is determined by the county assessor. For instance, with a median home price of $101,700, the tax bill can vary significantly. Homeowners in the 25th percentile pay around $1,103, while those in the 75th percentile pay approximately $2,190. At the 90th percentile, the tax bill can reach up to $2,809. These taxes fund essential public services such as schools, infrastructure, and emergency services. The effective tax rate in Rockford is higher than the national median property tax rate of 0.99%, reflecting the community's investment in these services. Homeowners should be aware of how these factors influence their annual tax obligations, as higher property taxes can impact their overall cost of homeownership and financial planning.
Average Rockford Tax Bill
$1,518
Average Mercer County Tax Bill
$1,932
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Rockford, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45882 | $591 | $1,103 | $1,518 | $2,190 | $2,809 |
Source: Ownwell