Bedford, Ohio Property Taxes
The median property tax rate in Bedford, OH is 1.45%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Bedford at $56,400, the typical annual property tax bill reaches $818, which is significantly lower than the national median of $2,690. Property taxes in Bedford 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 Bedford'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 Bedford 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
Bedford, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.45%
Estimate Property Tax Bill
$818
$759
Ownwell’s Bedford Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bedford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bedford 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 Bedford, Ohio
Property taxes in Bedford, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bedford is 1.45%, notably higher than the U.S. national median of 0.99%. Local government entities within Bedford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bedford 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. Understanding how Bedford's effective property tax rate compares to other areas provides valuable insights into the varying tax landscape across Cuyahoga County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bedford Tax Rate
1.45%
Average Portage County Tax Rate
1.68%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bedford, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44146 | 1.45% | 1.45% | 1.45% | 1.45% | 1.45% |
Source: Ownwell
Property Tax Assessment Values Across Bedford, Ohio
In Bedford, 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 Portage 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 Bedford, 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 Bedford helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Bedford is $818 in the 44146 zip code, which is also the lowest median tax bill, reflecting a consistent tax environment across the area.
Average Bedford Assessed Value
$56,400
Average Portage County Assessed Value
$162,300
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bedford, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44146 | $56,400 | $56,400 | $56,400 | $56,400 | $56,400 |
Source: Ownwell
Property Tax Bills Across Bedford, Ohio
In Bedford, located in Portage County, OH, property tax bills are calculated based on the assessed value of a home rather than its market value. The assessed value is determined by the local tax assessor and typically represents a percentage of the property's market value. Once the assessed value is established, the applicable tax rate is applied to this value to calculate the annual property tax bill. For homeowners in Bedford, the median home price is $56,400, and the median property tax bill is $818, which is significantly lower than the national median property tax rate of 0.99%. Factors such as local government budgets, school district funding, and public services influence the tax rate. All homeowners in the 44146 zip code face the same median tax bill of $818, whether they fall into the 25th, 75th, or even 90th percentile of home values. This uniformity in tax bills helps ensure predictability for homeowners, allowing them to budget more effectively for their annual expenses.
Average Bedford Tax Bill
$818
Average Portage County Tax Bill
$2,735
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Bedford, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44146 | $818 | $818 | $818 | $818 | $818 |
Source: Ownwell