Pedro, Ohio Property Taxes
The median property tax rate in Pedro, OH is 1.08%, slightly above the national median of 0.99% but significantly lower than the Ohio state median of 1.80%. With a median home value of $84,460 in Pedro, the typical annual property tax bill amounts to $906, which is considerably less than the national median of $2,690. Property taxes in Pedro are calculated based on the assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Pedro'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 Pedro 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
Pedro, 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 Pedro Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pedro with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pedro 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 Pedro, Ohio
Property taxes in Pedro, Ohio, are essential for funding critical local services, including public schools, road maintenance, and emergency services. The median tax rate in Pedro is 1.08%, which is higher than the U.S. national median of 0.99%. Local government entities within Pedro set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pedro 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 Pedro's effective property tax rate compares to other areas provides valuable insights into the varying tax landscape across Scioto County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Pedro Tax Rate
1.08%
Average Scioto County Tax Rate
1.59%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pedro, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45659 | 1.00% | 1.05% | 1.08% | 1.51% | 1.52% |
Source: Ownwell
Property Tax Assessment Values Across Pedro, Ohio
In Pedro, 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 Scioto 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 Pedro, 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. The median home price in Pedro is $84,460, with tax bills ranging from $779 at the 25th percentile to $1,719 at the 90th percentile. The highest and lowest median tax bills are both $906, found in the 45659 zip code. 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 Pedro helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Pedro Assessed Value
$84,460
Average Scioto County Assessed Value
$71,410
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Pedro, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45659 | $45,244 | $76,295 | $84,460 | $88,285 | $119,782 |
Source: Ownwell
Property Tax Bills Across Pedro, Ohio
In Pedro, located in Scioto County, OH, property tax bills are calculated based on the assessed value of a home. The assessed value is typically a percentage of the market value, determined by the county assessor. This assessed value is then multiplied by the local tax rate to arrive at the property tax bill. For example, with a median home price of $84,460, homeowners in Pedro can expect varying tax bills. The 25th percentile tax bill is around $779, while the 75th percentile reaches $1,087, and the 90th percentile climbs to $1,719. These figures highlight the range homeowners might experience, depending on their property's assessed value and applicable exemptions. Compared to the national median property tax rate of 0.99%, the tax rates in Pedro can significantly impact homeowners' finances. Understanding these factors helps homeowners anticipate their tax obligations and plan accordingly. This system ensures that property taxes are proportionate to the property's value, providing a fair distribution of the tax burden among residents.
Average Pedro Tax Bill
$906
Average Scioto County Tax Bill
$1,073
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Pedro, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45659 | $430 | $779 | $906 | $1,087 | $1,719 |
Source: Ownwell