Galion, Ohio Property Taxes
The median property tax rate in Galion, OH is 1.49%, which is higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Galion at $89,800, the typical annual property tax bill reaches $1,323, which is below the national median of $2,690. Property taxes in Galion 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 Galion'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 Galion 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
Galion, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.49%
Estimate Property Tax Bill
$1,338
$1,242
Ownwell’s Galion Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Galion with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Galion 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 Galion, Ohio
Property taxes in Galion, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Galion is 1.49%, notably higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Galion set these rates annually, and they can vary significantly across different neighborhoods. Each year, Galion 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 Galion's effective property tax rate to other counties in Ohio and the national median. For comparison, the 44833 zip code has the highest median property tax rate of 1.49%, while the lowest median tax rate within the same zip code is also 1.49%. Understanding how these cities compare with Galion 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 Galion Tax Rate
1.49%
Average Morrow County Tax Rate
1.58%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Galion, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44833 | 1.16% | 1.46% | 1.49% | 1.58% | 1.74% |
Source: Ownwell
Property Tax Assessment Values Across Galion, Ohio
In Galion, 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 Galion, 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 Galion helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills are both found in the 44833 zip code, with a median tax bill of $1,323.
Average Galion Assessed Value
$89,800
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 Galion, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44833 | $7,200 | $31,400 | $89,800 | $137,000 | $206,480 |
Source: Ownwell
Property Tax Bills Across Galion, Ohio
Property tax bills in Galion, located in Morrow County, OH, are calculated based on the assessed value of the property and the applicable tax rate. The assessed value is typically a percentage of the property's market value, which is determined by county assessors. Factors such as property size, location, and improvements are considered to estimate this value. In Galion, the median home price is $89,800, which significantly influences the tax bill. Homeowners in Galion can expect their property tax bills to vary widely. For instance, the tax bill at the 25th percentile is around $553, while at the 75th percentile, it jumps to $2,026. Those in the 90th percentile may see bills as high as $3,113. The highest median tax bill in the area is $1,323. Compared to the national median property tax rate of 0.99%, Galion's property tax rates can have a substantial impact on homeowners' annual expenses, affecting their overall financial planning and home affordability.
Average Galion Tax Bill
$1,323
Average Morrow County Tax Bill
$1,602
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Galion, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44833 | $136 | $553 | $1,323 | $2,026 | $3,113 |
Source: Ownwell