Tontogany, Ohio Property Taxes
The median property tax rate in Tontogany, Ohio is 1.49%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Tontogany, the typical annual property tax bill reaches $1,574, which is below the national median of $2,690. Property taxes in Tontogany 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 Tontogany'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 Tontogany 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
Tontogany, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.49%
Estimate Property Tax Bill
$1,658
$1,539
Ownwell’s Tontogany Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Tontogany with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Tontogany 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 Tontogany, Ohio
Property taxes in Tontogany, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Tontogany is 1.49%, which is higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Tontogany set these rates annually, and they can vary significantly across different neighborhoods. Each year, Tontogany 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 Tontogany's effective property tax rate to other counties in Ohio and the national median. For comparison, the 43565 zip code has both the highest and lowest median property tax rate of 1.49%. Understanding how these areas compare with Tontogany 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 Tontogany Tax Rate
1.49%
Average Wood County Tax Rate
1.62%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Tontogany, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43565 | 1.47% | 1.49% | 1.49% | 1.52% | 1.53% |
Source: Ownwell
Property Tax Assessment Values Across Tontogany, Ohio
In Tontogany, 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 Tontogany, 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 Tontogany is $111,300, with tax bills varying widely. For example, the 25th percentile tax bill is $227, while the 75th percentile tax bill reaches $2,232. Understanding these valuation concepts helps property owners navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Tontogany Assessed Value
$111,300
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 Tontogany, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43565 | $5,600 | $15,000 | $111,300 | $150,100 | $178,060 |
Source: Ownwell
Property Tax Bills Across Tontogany, Ohio
In Tontogany, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. For instance, with a median home price of $111,300, the assessed value is used to determine the tax bill. The local tax rate is then applied to this assessed value. Factors such as local government budgets, school funding needs, and public services influence the rate. Homeowners in Tontogany can expect their property tax bills to vary significantly. The 25th percentile tax bill is around $227, while those in the 75th percentile pay approximately $2,232. At the 90th percentile, the tax bill can reach up to $2,599. Comparatively, the national median property tax rate stands at 0.99%, making it essential for homeowners to understand these local variations. These tax bills directly impact homeowners' annual expenses, influencing decisions on budgeting, home improvements, and long-term financial planning.
Average Tontogany Tax Bill
$1,574
Average Wood County Tax Bill
$2,615
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Tontogany, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43565 | $86 | $227 | $1,574 | $2,232 | $2,599 |
Source: Ownwell