Ontario, Ohio Property Taxes
The median property tax rate in Ontario, Ohio is 2.03%, significantly higher than both the national median of 0.99% and the Ohio state median of 1.80%. With a median home value of $124,750 in Ontario, the typical annual property tax bill is $2,372, which is below the national median of $2,690. Property taxes in Ontario are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Ontario'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 Ontario 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
Ontario, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
2.03%
Estimate Property Tax Bill
$2,532
$2,350
Ownwell’s Ontario Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ontario with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ontario 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 Ontario, Ohio
Property taxes in Ontario, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ontario is 2.03%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Ontario set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ontario 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 Ontario's effective property tax rate to other counties in Ohio and the national median. For comparison, the 44903 zip code has the highest median property tax rate of 2.03%, while the 44906 zip code has the lowest median tax rate of 2.03%. Understanding how these areas compare with Ontario provides valuable insights into the varying tax landscape across Richland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ontario Tax Rate
2.03%
Average Richland County Tax Rate
1.92%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ontario, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44903 | 1.66% | 2.03% | 2.03% | 2.04% | 2.07% |
| 44906 | 1.48% | 1.85% | 2.03% | 2.07% | 2.07% |
Source: Ownwell
Property Tax Assessment Values Across Ontario, Ohio
In Ontario, 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 Richland 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. 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. For instance, the highest median tax bill in Ontario is found in the 44903 zip code at $3,883, while the lowest is in the 44906 zip code at $2,118. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Ontario Assessed Value
$124,750
Average Richland County Assessed Value
$93,590
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ontario, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44903 | $89,004 | $133,060 | $194,920 | $280,125 | $347,758 |
| 44906 | $71,273 | $88,560 | $107,475 | $147,555 | $193,028 |
Source: Ownwell
Property Tax Bills Across Ontario, Ohio
In Ontario, located in Richland County, OH, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in the area is $124,750. Local tax rates are then applied to this assessed value to determine the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value and, consequently, the tax bill. For homeowners in Ontario, the tax bills can vary significantly. The 25th percentile tax bill is around $1,745, while the 75th percentile reaches up to $3,619. At the 90th percentile, homeowners might see bills as high as $5,534. The highest median tax bill in the region is $3,883, found in the 44903 zip code, whereas the lowest is $2,118 in the 44906 zip code. These property taxes fund essential public services, including schools, infrastructure, and emergency services, directly impacting the quality of life for residents. Understanding how these taxes are calculated helps homeowners budget more effectively and anticipate future expenses.
Average Ontario Tax Bill
$2,372
Average Richland County Tax Bill
$1,633
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Ontario, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44903 | $1,673 | $2,369 | $3,883 | $5,683 | $7,192 |
| 44906 | $1,252 | $1,620 | $2,118 | $2,958 | $3,936 |
Source: Ownwell