Painesville, Ohio Property Taxes
The median property tax rate in Painesville, OH is 1.52%, which is notably higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With a median home value of $156,300 in Painesville, the typical annual property tax bill amounts to $2,374, slightly below the national median of $2,690. Property taxes in Painesville are calculated based on the tax assessed value, which is often less than the market value due to various exemptions, such as those for primary residences and agricultural properties. Navigating Painesville's property tax system, exploring available exemptions, and finding opportunities for reductions can result in substantial annual savings. Whether you're in the heart of Painesville or another part of the city, understanding the local property tax system is beneficial for both homeowners and real estate investors.
Last Updated June 14, 2024
Painesville, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.52%
Estimate Property Tax Bill
$2,376
Ownwell’s Painesville Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Painesville with just two simple data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Painesville to provide a reliable estimate of your property tax bill. This valuable tool offers a clear understanding of potential tax liabilities, making financial planning easier. For those interested in more granular insights, neighborhood-level trends are available further down the page. Your property’s assessed value is determined by the county for tax calculations, reflecting any applicable exemptions.
Property Tax Rates Across Painesville, Ohio
Property taxes in Painesville, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Painesville is 1.52%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Painesville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Painesville 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 Painesville's effective property tax rate to other counties in Ohio and the national median. For comparison, the zip code 44077 has both the highest and lowest median property tax rate of 1.52%. Understanding how these areas compare with Painesville 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 Painesville Tax Rate
1.52%
Average Ashtabula County Tax Rate
1.74%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Painesville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44077 | 1.52% | 1.52% | 1.52% | 1.52% | 1.52% |
Source: Ownwell
Property Tax Assessment Values Across Painesville, Ohio
In Painesville, 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 local 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 Painesville, 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 Painesville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest median tax bill in Painesville is $2,374 in the 44077 zip code, which is also the lowest, reflecting a consistent tax landscape.
Average Painesville Assessed Value
$156,300
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 Painesville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44077 | $156,300 | $156,300 | $156,300 | $156,300 | $156,300 |
Source: Ownwell
Property Tax Bills Across Painesville, Ohio
In Painesville, located in Ashtabula County, OH, property tax bills are calculated based on the assessed value of a home. The assessed value is typically a percentage of the property's market value, which is determined by local tax assessors. For instance, a home with a median price of $156,300 would have its tax bill calculated based on this assessed value. The local tax rate, which in this case results in a median tax bill of $2,374, is applied to the assessed value to determine the annual property tax owed. This rate can fluctuate based on various factors, including local government budgets and school district funding needs. Homeowners in Painesville should note that their property tax bills can significantly impact their annual expenses, as the median tax bill here is notably higher than the national median property tax rate of 0.99%. Therefore, understanding how these taxes are calculated can help homeowners better anticipate and manage their financial obligations.
Average Painesville Tax Bill
$2,374
Average Ashtabula County Tax Bill
$1,299
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Painesville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44077 | $2,374 | $2,374 | $2,374 | $2,374 | $2,374 |
Source: Ownwell