Elmore, Ohio Property Taxes
The median property tax rate in Elmore, Ohio is 1.66%, notably higher than the national median of 0.99% but slightly below the Ohio state median of 1.80%. With the median home value in Elmore at $161,600, the typical annual property tax bill amounts to $2,699, just above the national median of $2,690. Property taxes in Elmore 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 Elmore'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 Elmore 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
Elmore, 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 Elmore Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Elmore with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Elmore 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 Elmore, Ohio
Property taxes in Elmore, Ohio, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Elmore is 1.66%, significantly higher than the U.S. national median of 0.99%. Local government entities within Elmore set these rates annually, and they can vary significantly across different neighborhoods. Each year, Elmore 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 Elmore's effective property tax rate to other counties in Ohio and the national median. For comparison, the 43416 zip code has the highest median property tax rate of 1.66%, while the same zip code also has the lowest median tax rate of 1.66%. Understanding how these cities compare with Elmore provides valuable insights into the varying tax landscape across Sandusky County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Elmore Tax Rate
1.66%
Average Sandusky County Tax Rate
1.42%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Elmore, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43416 | 1.13% | 1.64% | 1.66% | 1.71% | 1.78% |
Source: Ownwell
Property Tax Assessment Values Across Elmore, Ohio
In Elmore, 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 Sandusky 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 Elmore, 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. For instance, the median home price in Elmore is $161,600, with the 25th percentile tax bill at $1,974 and the 75th percentile tax bill at $3,736. The highest median tax bill in the area is $2,699, found in the 43416 zip code, which also has the lowest median tax bill of $2,699. By understanding 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 Elmore helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Elmore Assessed Value
$161,600
Average Sandusky County Assessed Value
$110,300
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Elmore, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43416 | $90,610 | $112,075 | $161,600 | $245,300 | $382,370 |
Source: Ownwell
Property Tax Bills Across Elmore, Ohio
In Elmore, located in Sandusky County, OH, property tax bills are calculated based on the assessed value of a home, which is determined by local government assessors. This assessed value is then multiplied by the local property tax rate to generate the annual tax bill. For homeowners in Elmore, the median home price stands at $161,600, and property tax bills can vary significantly. The tax bill for the 25th percentile is $1,974, while those in the 75th percentile pay around $3,736. For the top 10% of homeowners, tax bills can reach up to $4,317. Factors influencing these amounts include the home's assessed value, local tax rates, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Elmore's property tax rate can result in varying financial impacts on homeowners. Understanding these factors is crucial for homeowners to manage their financial planning effectively and anticipate their annual property tax obligations.
Average Elmore Tax Bill
$2,699
Average Sandusky County Tax Bill
$1,549
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Elmore, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43416 | $1,655 | $1,974 | $2,699 | $3,736 | $4,317 |
Source: Ownwell