Forest, Ohio Property Taxes
The median property tax rate in Forest, Ohio is 1.12%, which is higher than both the national median of 0.99% and Ohio's state median of 1.80%. With the median home value in Forest at $109,430, the typical annual property tax bill reaches $1,211, exceeding the national median of $2,690. Property taxes in Forest 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 Forest'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 Forest 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
Forest, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.12%
Estimate Property Tax Bill
$1,226
Ownwell’s Forest Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Forest with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Forest 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 Forest, Ohio
Property taxes in Forest, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Forest is 1.12%, higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Forest set these rates annually, and they can vary significantly across different neighborhoods. Each year, Forest 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. Comparing Forest's effective property tax rate to other areas in Ohio and the national median offers valuable insights. For instance, the 45843 zip code has both the highest and lowest median property tax rate of 1.12%, reflecting a uniform rate within this region. Understanding how these values compare with Forest provides homeowners with a clearer picture of their property tax obligations relative to neighboring areas in Wyandot County.
Average Forest Tax Rate
1.12%
Average Wyandot County Tax Rate
1.29%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Forest, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45843 | 0.58% | 0.93% | 1.12% | 1.17% | 1.38% |
Source: Ownwell
Property Tax Assessment Values Across Forest, Ohio
In Forest, 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 Wyandot 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 Forest, 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 Forest helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Forest Assessed Value
$109,430
Average Wyandot County Assessed Value
$93,115
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Forest, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45843 | $31,225 | $75,538 | $109,430 | $192,900 | $344,791 |
Source: Ownwell
Property Tax Bills Across Forest, Ohio
In Forest, located in Wyandot County, OH, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. The median home price in Forest is $109,430. Property taxes are then applied to this assessed value using the local tax rate. For instance, while the national median property tax rate stands at 0.99%, Forest’s tax bills can vary significantly. Homeowners in Forest can expect to pay different amounts depending on their property’s assessed value. The 25th percentile tax bill is around $830, indicating lower-end properties, while the 75th percentile tax bill reaches $1,862, reflecting mid-range properties. For higher-end properties, the 90th percentile tax bill can go up to $2,365. These property tax bills directly impact homeowners by influencing their annual housing costs. Higher assessed values lead to higher tax bills, which can affect affordability and the overall cost of owning a home in Forest.
Average Forest Tax Bill
$1,211
Average Wyandot County Tax Bill
$1,190
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Forest, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45843 | $331 | $830 | $1,211 | $1,862 | $2,365 |
Source: Ownwell