Risingsun, Wood County, Ohio Property Taxes
The median property tax rate in Risingsun, OH is 1.63%, notably higher than the national median of 0.99% but below Ohio's state median of 1.80%. With the median home value in Risingsun at $81,150, the typical annual property tax bill is $1,277, which is lower than the national median of $2,690. Property taxes in Risingsun are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Risingsun's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in substantial annual savings. Whether you're in the heart of Risingsun 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
Risingsun, Wood County, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.63%
Estimate Property Tax Bill
$1,323
$1,227
Ownwell’s Risingsun Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Risingsun with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Risingsun 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 Risingsun, Wood County, Ohio
Property taxes in Risingsun, Ohio, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Risingsun is 1.63%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Risingsun set these rates annually, and they can vary significantly across different neighborhoods. Each year, Risingsun 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 Risingsun's effective property tax rate to other counties in Ohio and the national median. For comparison, the 43457 zip code has the highest median property tax rate of 1.63%, while the same zip code also has the lowest median tax rate of 1.63%. Understanding how these cities compare with Risingsun provides valuable insights into the varying tax landscape across Wood County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Risingsun Tax Rate
1.63%
Average Wood County Tax Rate
1.62%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Risingsun, Wood County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43457 | 1.24% | 1.42% | 1.63% | 1.74% | 1.85% |
Source: Ownwell
Property Tax Assessment Values Across Risingsun, Wood County, Ohio
In Risingsun, 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 Wood 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 Risingsun, 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 Risingsun helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For example, the highest median tax bill in Risingsun is $1,277 in the 43457 zip code, while the lowest median tax bill is also $1,277 in the same zip code.
Property Tax Assessment Values Across Risingsun, Wood County, Ohio
Source: Ownwell
$14,750
$135,175
$255,600
Average Risingsun Assessed Value
$81,150
Average Wood County Assessed Value
$163,900
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Risingsun, Wood County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43457 | $4,470 | $15,250 | $81,150 | $124,725 | $184,710 |
Source: Ownwell
Property Tax Bills Across Risingsun, Wood County, Ohio
Property tax bills in Rising Sun, located in Wood County, Ohio, are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is a percentage of the property's market value, which is periodically evaluated by local authorities. Factors such as property size, location, and improvements can influence this market value assessment. In Rising Sun, the median home price is $81,150. Property owners can expect tax bills to vary significantly, with the 25th percentile at $258 and the 75th percentile at $1,929. The 90th percentile tax bill can reach up to $2,734. These variations highlight how individual property characteristics and local tax rates impact the final tax bill. Compared to the national median property tax rate of 0.99%, Rising Sun's tax rates can result in a wide range of tax bills, affecting homeowners differently based on their property's assessed value. Understanding these factors helps homeowners anticipate their annual financial obligations and plan accordingly.
Average Risingsun Tax Bill
$1,277
Average Wood County Tax Bill
$2,615
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Risingsun, Wood County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43457 | $66 | $258 | $1,277 | $1,929 | $2,734 |
Source: Ownwell