Old Fort, Ohio Property Taxes
The median property tax rate in Old Fort, OH is 1.45%, which is considerably higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With the median home value in Old Fort at $74,400, the typical annual property tax bill reaches $1,069, falling below the national median of $2,690. Property taxes in Old Fort are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Old Fort'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 Old Fort 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
Old Fort, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.45%
Estimate Property Tax Bill
$1,079
Ownwell’s Old Fort Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Old Fort with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Old Fort 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 Old Fort, Ohio
Property taxes in Old Fort, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Old Fort is 1.45%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Old Fort set these rates annually, and they can vary significantly across different neighborhoods. Each year, Old Fort 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 Old Fort's effective property tax rate to other counties in Ohio and the national median. For comparison, the 44861 zip code has both the highest and lowest median property tax rate of 1.45%. Understanding how these cities compare with Old Fort 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 Old Fort Tax Rate
1.45%
Average Seneca County Tax Rate
1.43%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Old Fort, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44861 | 1.07% | 1.42% | 1.45% | 1.47% | 1.51% |
Source: Ownwell
Property Tax Assessment Values Across Old Fort, Ohio
In Old Fort, 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 Old Fort, 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 Old Fort is $74,400, with tax bills varying significantly. The 25th percentile tax bill is $868, while the 75th percentile tax bill is $1,367, and the 90th percentile tax bill reaches $2,281. The highest median tax bill in the area is $1,069 in zip code 44861, which is also the lowest median 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 Old Fort helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Old Fort Assessed Value
$74,400
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 Old Fort, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44861 | $49,312 | $61,390 | $74,400 | $95,290 | $156,136 |
Source: Ownwell
Property Tax Bills Across Old Fort, Ohio
In Old Fort, Seneca County, OH, property tax bills are calculated based on the assessed value of the home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. Homeowners in Old Fort experience a range of tax bills, depending on the assessed value of their property and the specific tax rates applied. For instance, the median home price in Old Fort is $74,400. Tax bills can vary significantly; at the 25th percentile, homeowners might pay around $868, while those at the 75th percentile could see bills closer to $1,367. At the 90th percentile, tax bills can reach up to $2,281. The highest median tax bill recorded in the area is $1,069, which is notably higher than the national median property tax rate of 0.99%. These property taxes fund essential local services such as schools, infrastructure, and emergency services, directly impacting the quality of life in Old Fort. Homeowners should be aware of these factors as they contribute to the overall cost of owning a property in this region.
Average Old Fort Tax Bill
$1,069
Average Seneca County Tax Bill
$1,391
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Old Fort, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44861 | $728 | $868 | $1,069 | $1,367 | $2,281 |
Source: Ownwell