Andover, Ohio Property Taxes
The median property tax rate in Andover, OH is 1.59%, which is considerably higher than the national median of 0.99% but lower than Ohio's state median of 1.80%. With the median home value in Andover at $16,600, the typical annual property tax bill reaches $275, which falls below the national median of $2,690. Property taxes in Andover are calculated based on the tax assessed value, typically lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Andover'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 Andover or another part of Ashtabula County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Andover, Ohio Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.8%
Estimate Property Tax Bill
$3,600
Ownwell’s Andover Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Andover with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Andover 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 Andover, Ohio
Property taxes in Andover, Ohio, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Andover is 1.59%, significantly higher than both the Ohio state median of 1.36% and the U.S. national median of 0.99%. Local government entities within Andover set these rates annually, and they can vary significantly across different neighborhoods. Each year, Andover 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 Andover's effective property tax rate to other counties in Ohio and the national median. For comparison, the 44003 zip code has the highest median property tax rate of 1.59%, while the 44003 zip code also has the lowest median tax rate of 1.59%. Understanding how these cities compare with Andover provides valuable insights into the varying tax landscape across Ashtabula County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Andover Tax Rate
1.59%
Average Ashtabula County Tax Rate
1.74%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Andover, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44003 | 1.30% | 1.53% | 1.59% | 1.67% | 1.74% |
Source: Ownwell
Property Tax Assessment Values Across Andover, Ohio
In Andover, 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 Ashtabula 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 Andover, 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 Andover helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $275, specifically in the 44003 zip code, highlighting the consistency in tax assessments within the region.
Average Andover Assessed Value
$16,600
Average Ashtabula County Assessed Value
$74,100
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Andover, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44003 | $5,300 | $9,000 | $16,600 | $58,225 | $106,070 |
Source: Ownwell
Property Tax Bills Across Andover, Ohio
In Andover, Ashtabula County, OH, property tax bills are calculated based on the assessed value of a home rather than its market value. The assessed value is determined by the county assessor and typically represents a percentage of the market value. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Several factors influence the assessed value, including property size, location, and condition. Homeowners in Andover can expect property tax bills to vary significantly. For instance, the 25th percentile tax bill stands at $145, while the 75th percentile reaches $877, and the 90th percentile can be as high as $1,620. The median home price in Andover is $16,600, which is relatively low compared to national averages. These property taxes fund essential local services such as schools, public safety, and infrastructure. Therefore, understanding how these taxes are calculated and the factors involved can help homeowners better manage their finances and anticipate future tax obligations.
Average Andover Tax Bill
$275
Average Ashtabula County Tax Bill
$1,299
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Andover, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44003 | $90 | $145 | $275 | $877 | $1,620 |
Source: Ownwell