Bascom, Ohio Property Taxes
The median property tax rate in Bascom, OH is 1.46%, which is considerably higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With a median home value of $94,860 in Bascom, the typical annual property tax bill reaches $1,386, falling below the national median of $2,690. Property taxes in Bascom are calculated based on the assessed value, which is often lower than the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Bascom'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 Bascom 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
Bascom, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.46%
Estimate Property Tax Bill
$1,385
Ownwell’s Bascom Property Tax Bill Calculator is designed to assist homeowners, real estate investors, or potential buyers in estimating their annual property taxes in Bascom. By simply entering your property's estimated assessed value, the calculator utilizes the median tax rate in Bascom to provide an accurate estimate of your property tax bill. This valuable tool offers a clear understanding of potential tax liabilities. For those interested in more detailed trends at a neighborhood level, additional localized information is available below. Your property’s assessed value, determined by the county, is used for property tax calculations and takes into account any applicable exemptions.
Property Tax Rates Across Bascom, Ohio
Property taxes in Bascom, Ohio, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bascom is 1.46%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Bascom set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bascom 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 Bascom's effective property tax rate to other counties in Ohio and the national median. For comparison, the 44809 zip code has the highest median property tax rate of 1.46%, while the same zip code also has the lowest median tax rate of 1.46%. Understanding how these cities compare with Bascom provides valuable insights into the varying tax landscape across Seneca County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bascom Tax Rate
1.46%
Average Seneca County Tax Rate
1.43%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bascom, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44809 | 1.12% | 1.44% | 1.46% | 1.49% | 1.54% |
Source: Ownwell
Property Tax Assessment Values Across Bascom, Ohio
In Bascom, 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 Seneca 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 Bascom, 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. The median home price in Bascom is $94,860, with tax bills ranging from $1,036 at the 25th percentile to $2,187 at the 90th percentile. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Bascom Assessed Value
$94,860
Average Seneca County Assessed Value
$95,080
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bascom, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44809 | $55,912 | $71,690 | $94,860 | $119,420 | $149,942 |
Source: Ownwell
Property Tax Bills Across Bascom, Ohio
In Bascom, property tax bills are calculated based on the assessed value of a home, which is determined by the county's assessment office. The assessed value is a percentage of the home's market value. Homeowners in Bascom, located in Seneca County, can expect their property tax bills to vary considerably. For instance, the 25th percentile tax bill is around $1,036, while the 75th percentile reaches $1,734, and the 90th percentile can go up to $2,187. These tax bills are influenced by various factors, including the property's assessed value, local tax rates, and any applicable exemptions or deductions. The median home price in Bascom is $94,860, and with the national median property tax rate at 0.99%, homeowners in Bascom may find their tax rates to be relatively comparable. The highest median tax bill in the area is $1,386, found in the 44809 zip code. Understanding these elements helps homeowners anticipate their financial responsibilities and budget accordingly.
Average Bascom Tax Bill
$1,386
Average Seneca County Tax Bill
$1,391
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Bascom, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44809 | $820 | $1,036 | $1,386 | $1,734 | $2,187 |
Source: Ownwell