Fairpoint, Ohio Property Taxes
The median property tax rate in Fairpoint, OH is 1.10%, slightly higher than the national median of 0.99%, yet significantly lower than the Ohio state median of 1.80%. With a median home value of $40,185 in Fairpoint, the typical annual property tax bill is around $295, which is well below the national median of $2,690. Property taxes in Fairpoint are calculated based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Fairpoint's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Fairpoint or another part of Belmont County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Fairpoint, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.1%
Estimate Property Tax Bill
$442
Ownwell’s Fairpoint Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fairpoint with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fairpoint 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 Belmont County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Fairpoint, Ohio
Property taxes in Fairpoint, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fairpoint is 1.10%, higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Fairpoint set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fairpoint 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 Fairpoint's effective property tax rate to other counties in Ohio and the national median. For comparison, the 43927 zip code has the highest median property tax rate of 1.10%, while the same zip code also has the lowest median tax rate of 1.10%. Understanding how these areas compare with Fairpoint provides valuable insights into the varying tax landscape across Belmont County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fairpoint Tax Rate
1.10%
Average Belmont County Tax Rate
1.29%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fairpoint, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43927 | 0.56% | 0.90% | 1.10% | 1.16% | 1.23% |
Source: Ownwell
Property Tax Assessment Values Across Fairpoint, Ohio
In Fairpoint, 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 Belmont 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 Fairpoint, 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 Fairpoint helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 43927 at $295, while the lowest is also 43927 at $295.
Average Fairpoint Assessed Value
$40,185
Average Belmont County Assessed Value
$74,065
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fairpoint, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43927 | $14,759 | $29,488 | $40,185 | $44,378 | $47,397 |
Source: Ownwell
Property Tax Bills Across Fairpoint, Ohio
In Fairpoint, located in Belmont County, OH, property tax bills are calculated based on the assessed value of a home. The local tax rate is applied to the assessed value, which is a percentage of the market value determined by the county assessor. For instance, with a median home price of $40,185, homeowners can expect varying tax bills depending on their property's assessed value. The 25th percentile tax bill in Fairpoint is around $111, while the 75th percentile tax bill rises to $485. At the 90th percentile, the tax bill can reach up to $524. These property taxes fund essential public services like schools, infrastructure, and emergency services, directly impacting the community's quality of life. Compared to the national median property tax rate of 0.99%, Fairpoint's rates reflect the local economic conditions and property values. Homeowners need to be aware of these factors as they can significantly influence their annual financial obligations and the overall affordability of their homes.
Average Fairpoint Tax Bill
$295
Average Belmont County Tax Bill
$992
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Fairpoint, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43927 | $82 | $111 | $295 | $485 | $524 |
Source: Ownwell