Randolph, Ohio Property Taxes
The median property tax rate in Randolph, OH is 1.63%, which is considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Randolph, the typical annual property tax bill reaches $1,939, exceeding the national median of $2,690. Property taxes in Randolph 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 Randolph'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 Randolph 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
Randolph, 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 Randolph Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Randolph with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Randolph 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 Randolph, Ohio
Property taxes in Randolph, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Randolph is 1.63%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Randolph set these rates annually, and they can vary significantly across different neighborhoods. Each year, Randolph 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 Randolph's effective property tax rate to other counties in Ohio and the national median. For comparison, the 44265 zip code has the highest median property tax rate of 1.63%, while the same zip code also has the lowest median tax rate of 1.63%. Understanding how these cities compare with Randolph provides valuable insights into the varying tax landscape across Portage County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Randolph Tax Rate
1.63%
Average Portage County Tax Rate
1.68%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Randolph, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44265 | 1.30% | 1.38% | 1.63% | 1.66% | 1.68% |
Source: Ownwell
Property Tax Assessment Values Across Randolph, Ohio
In Randolph, 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 Randolph, 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 Randolph 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 44265, with a median of $1,939, which is above the national median property tax rate of 0.99%.
Average Randolph Assessed Value
$129,300
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 Randolph, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44265 | $71,820 | $95,550 | $129,300 | $169,600 | $216,000 |
Source: Ownwell
Property Tax Bills Across Randolph, Ohio
In Randolph, Portage County, OH, property tax bills are calculated based on the assessed value of your home, which is a percentage of its market value. The median home price in the area stands at $129,300. Local tax authorities apply the tax rate to this assessed value to determine your tax bill. Several factors influence your property tax bill, including the home's location, size, and any exemptions you may qualify for. For instance, the tax bill for homes in the 25th percentile is around $1,421, while those in the 75th percentile are approximately $2,659. Homeowners in the 90th percentile can expect to pay about $3,172 annually. The highest and lowest median tax bills in Randolph are both reported at $1,939, which is below the national median property tax rate of 0.99%. These property taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the community's quality of life.
Average Randolph Tax Bill
$1,939
Average Portage County Tax Bill
$2,735
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Randolph, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44265 | $1,163 | $1,421 | $1,939 | $2,659 | $3,172 |
Source: Ownwell