Venedocia, Ohio Property Taxes
The median property tax rate in Venedocia, OH is 1.38%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Venedocia at $95,550, the typical annual property tax bill reaches $1,278, which is below the national median of $2,690. Property taxes in Venedocia 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 Venedocia'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 Venedocia or another part of Van Wert County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Venedocia, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.38%
Estimate Property Tax Bill
$1,319
$1,224
Ownwell’s Venedocia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Venedocia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Venedocia 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 Venedocia, Ohio
Property taxes in Venedocia, Ohio, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Venedocia is 1.38%, which is significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Venedocia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Venedocia 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 Venedocia's effective property tax rate to other counties in Ohio and the national median. For comparison, the zip code 45894 has the highest median property tax rate of 1.38%, while the same zip code also has the lowest median tax rate of 1.38%. Understanding how these cities compare with Venedocia 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 Venedocia Tax Rate
1.38%
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 Venedocia, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45894 | 0.66% | 1.13% | 1.38% | 1.48% | 1.62% |
Source: Ownwell
Property Tax Assessment Values Across Venedocia, Ohio
In Venedocia, 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 Venedocia, 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 Venedocia is $95,550, with tax bills ranging from $814 at the 25th percentile to $3,977 at the 90th percentile. The zip code 45894 has both the highest and lowest median tax bill at $1,278. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. This awareness helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Venedocia Assessed Value
$95,550
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 Venedocia, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45894 | $22,624 | $55,830 | $95,550 | $161,720 | $485,332 |
Source: Ownwell
Property Tax Bills Across Venedocia, Ohio
In Venedocia, property tax bills are calculated based on assessed property values and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. In Van Wert County, the median home price is $95,550. Property tax rates are applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including property location, home value, and applicable exemptions. For instance, the tax bill at the 25th percentile is $814, while at the 75th percentile it rises to $2,119, and at the 90th percentile, it reaches $3,977. These variations illustrate how different property values and exemptions can significantly impact what homeowners pay. Compared to the national median property tax rate of 0.99%, Venedocia's property taxes are reflective of local economic conditions and property values. Homeowners need to be aware of these factors as they can affect their annual financial obligations and overall cost of owning property in the region.
Average Venedocia Tax Bill
$1,278
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 Venedocia, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45894 | $357 | $814 | $1,278 | $2,119 | $3,977 |
Source: Ownwell