Scott, Ohio Property Taxes
The median property tax rate in Scott, OH is 1.39%, which is higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With the median home value in Scott at $59,490, the typical annual property tax bill amounts to $800, falling below the national median of $2,690. Property taxes in Scott are calculated based on the assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Scott’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 Scott or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Scott, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.39%
Estimate Property Tax Bill
$827
Ownwell’s Scott Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Scott with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Scott 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 Scott, Ohio
Property taxes in Scott, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Scott is 1.29%, higher than both the Ohio state median of 1.41% and the U.S. national median of 0.99%. Local government entities within Scott set these rates annually, and they can vary significantly across different neighborhoods. Each year, Scott 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 Scott's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45886 zip code has the highest median property tax rate of 1.29%, while the same zip code also represents the lowest median tax rate of 1.29%. Understanding how these cities compare with Scott 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 Scott Tax Rate
1.39%
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 Scott, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45886 | 0.80% | 1.29% | 1.39% | 1.44% | 1.59% |
Source: Ownwell
Property Tax Assessment Values Across Scott, Ohio
In Scott, 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 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 Scott, 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 Scott helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills both amount to $800.00 in the 45886 zip code.
Average Scott Assessed Value
$59,490
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 Scott, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45886 | $27,164 | $42,600 | $59,490 | $116,665 | $202,934 |
Source: Ownwell
Property Tax Bills Across Scott, Ohio
In Scott, Van Wert 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 local tax assessor. Homeowners in this region see a median home price of $59,490, which significantly influences their property tax bills. Factors such as property size, location, and improvements also play a role in determining the final tax amount. For homeowners in Scott, the property tax bill can vary widely. At the 25th percentile, the tax bill is around $587, while at the 75th percentile, it rises to approximately $1,615. Those at the 90th percentile face a tax bill of about $2,341. The highest and lowest median tax bills in the area are both recorded at $800, indicating a relatively consistent tax rate within the specific zip code 45886. These property taxes impact homeowners by contributing to local services and infrastructure, while also representing a significant annual expense.
Average Scott Tax Bill
$800
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 Scott, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45886 | $279 | $587 | $800 | $1,615 | $2,341 |
Source: Ownwell