Caledonia, Ohio Property Taxes
The median property tax rate in Caledonia, Ohio is 1.68%, notably higher than the national median of 0.99% but slightly below the Ohio state median of 1.80%. With a median home value of $143,350 in Caledonia, the typical annual property tax bill amounts to $2,289, which is below the national median of $2,690. Property taxes in Caledonia are determined based on the assessed value, which often comes in lower than the market value due to exemptions like those for primary residences and agricultural properties. Grasping the nuances of Caledonia's property tax system, along with exploring available exemptions and potential reductions, can result in substantial yearly savings. Whether situated in the center of Caledonia or elsewhere in the area, a thorough understanding of the local property tax structure will be advantageous for both homeowners and real estate investors.
Last Updated June 14, 2024
Caledonia, 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 Caledonia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Caledonia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Caledonia 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 Caledonia, Ohio
Property taxes in Caledonia, Ohio, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Caledonia is 1.68%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Caledonia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Caledonia 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 Caledonia's effective property tax rate to other counties in Ohio and the national median. For comparison, the 43314 zip code has the highest median property tax rate of 1.68%, while the 43314 zip code also has the lowest median tax rate of 1.68%. Understanding how these cities compare with Caledonia provides valuable insights into the varying tax landscape across Morrow County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Caledonia Tax Rate
1.68%
Average Morrow County Tax Rate
1.58%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Caledonia, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43314 | 1.41% | 1.67% | 1.68% | 1.70% | 1.80% |
Source: Ownwell
Property Tax Assessment Values Across Caledonia, Ohio
In Caledonia, 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 Morrow 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 Caledonia, 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 Caledonia is $143,350, with tax bills ranging from $1,469 at the 25th percentile to $3,739 at the 90th percentile. The highest and lowest median tax bills in the area are both $2,289, found in zip code 43314. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Caledonia Assessed Value
$143,350
Average Morrow County Assessed Value
$98,100
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Caledonia, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43314 | $29,890 | $96,375 | $143,350 | $172,050 | $222,660 |
Source: Ownwell
Property Tax Bills Across Caledonia, Ohio
In Caledonia, located in Morrow County, OH, property tax bills are calculated based on the assessed value of a property, which is typically a percentage of its market value. Homeowners in Caledonia face a median property tax rate that aligns closely with the national median of 0.99%. For instance, with a median home price of $143,350, the property tax bill can range significantly. At the 25th percentile, homeowners might expect a tax bill around $1,469, while at the 75th percentile, it could rise to approximately $2,883. For those at the 90th percentile, the tax bill can reach up to $3,739. Several factors influence these amounts, including changes in property values, local tax rates, and any applicable exemptions. High property taxes can affect homeowners by increasing their annual expenses, potentially impacting affordability. Conversely, understanding these factors can help homeowners plan and budget more effectively, ensuring they are prepared for their annual tax obligations.
Average Caledonia Tax Bill
$2,289
Average Morrow County Tax Bill
$1,602
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Caledonia, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43314 | $546 | $1,469 | $2,289 | $2,883 | $3,739 |
Source: Ownwell