Rockford, Ohio Property Taxes
The median property tax rate in Rockford, Ohio is 1.61%, which is significantly higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With the median home value in Rockford at $112,940, the typical annual property tax bill amounts to $1,749, below the national median of $2,690. Property taxes in Rockford are calculated based on the tax assessed value, which is generally lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Rockford's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Rockford 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
Rockford, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.61%
Estimate Property Tax Bill
$1,818
$1,687
Ownwell’s Rockford Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rockford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rockford 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 Rockford, Ohio
Property taxes in Rockford, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Rockford is 1.61%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Rockford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rockford 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 Rockford's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45882 zip code has both the highest and lowest median property tax rate of 1.61%. Understanding how these cities compare with Rockford provides valuable insights into the varying tax landscape across Van Wert County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Rockford Tax Rate
1.61%
Average Van Wert County Tax Rate
1.51%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rockford, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45882 | 0.92% | 1.44% | 1.61% | 1.72% | 1.77% |
Source: Ownwell
Property Tax Assessment Values Across Rockford, Ohio
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Rockford, Ohio. 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 Van Wert 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 Rockford, 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 Rockford helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Rockford is $1,749 in the 45882 zip code, while the lowest median tax bill is also $1,749 in the same zip code.
Average Rockford Assessed Value
$112,940
Average Van Wert County Assessed Value
$87,060
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Rockford, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45882 | $67,532 | $86,830 | $112,940 | $153,570 | $202,288 |
Source: Ownwell
Property Tax Bills Across Rockford, Ohio
In Rockford, 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 the area is $112,940. Homeowners can expect their tax bills to fall within a range determined by various factors, including the property's assessed value and the tax rate set by local government authorities. For instance, tax bills in Rockford can range from $1,312 at the 25th percentile to $3,207 at the 90th percentile. The median tax bill in the highest and lowest zip codes within Van Wert County is $1,749. These figures are influenced by local funding needs for public services like schools, infrastructure, and emergency services. Compared to the national median property tax rate of 0.99%, Rockford homeowners experience a tax rate that can significantly impact their annual expenses. Understanding how these factors come together helps homeowners better plan for their financial responsibilities.
Average Rockford Tax Bill
$1,749
Average Van Wert County Tax Bill
$1,320
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Rockford, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45882 | $881 | $1,312 | $1,749 | $2,504 | $3,207 |
Source: Ownwell