New Riegel, Ohio Property Taxes
The median property tax rate in New Riegel, OH is 1.30%, higher than the national median of 0.99% but lower than Ohio's state median of 1.80%. With the median home value in New Riegel at $142,605, the typical annual property tax bill is $1,802, which is below the national median of $2,690. Property taxes in New Riegel are determined based on the assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding New Riegel'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 New Riegel or another part of Seneca County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
New Riegel, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.3%
Estimate Property Tax Bill
$1,854
Ownwell’s New Riegel Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in New Riegel with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in New Riegel 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 New Riegel, Ohio
Property taxes in New Riegel, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in New Riegel is 1.30%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within New Riegel set these rates annually, and they can vary significantly across different neighborhoods. Each year, New Riegel 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 New Riegel's effective property tax rate to other counties in Ohio and the national median. For comparison, the zip code 44853 has both the highest and lowest median property tax rate of 1.30%. Understanding how these cities compare with New Riegel 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 New Riegel Tax Rate
1.30%
Average Seneca County Tax Rate
1.43%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across New Riegel, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44853 | 0.63% | 1.00% | 1.30% | 1.33% | 1.36% |
Source: Ownwell
Property Tax Assessment Values Across New Riegel, Ohio
In New Riegel, 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 New Riegel, 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 New Riegel helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in New Riegel are both $1802, found in zip code 44853.
Average New Riegel Assessed Value
$142,605
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 New Riegel, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44853 | $67,341 | $94,895 | $142,605 | $230,290 | $461,759 |
Source: Ownwell
Property Tax Bills Across New Riegel, Ohio
In New Riegel, located in Seneca 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 this area is $142,605. Property tax rates in New Riegel are influenced by various factors, including local government budgets, school funding needs, and public service requirements. Homeowners in New Riegel can expect tax bills to vary significantly. For instance, the 25th percentile tax bill is approximately $1,184, while the 75th percentile tax bill reaches around $2,575. At the higher end, the 90th percentile tax bill can be as much as $3,424. These variations highlight the impact of different assessed property values and tax rates within the region. Compared to the national median property tax rate of 0.99%, New Riegel’s property tax bills reflect the local economic landscape and public funding needs. For homeowners, understanding these factors is crucial for financial planning and anticipating annual property tax obligations.
Average New Riegel Tax Bill
$1,802
Average Seneca County Tax Bill
$1,391
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across New Riegel, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44853 | $845 | $1,184 | $1,802 | $2,575 | $3,424 |
Source: Ownwell