Glencoe, Ohio Property Taxes
The median property tax rate in Glencoe, Ohio, is 1.28%, which is higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With the median home value in Glencoe at $31,420, the typical annual property tax bill amounts to $277, falling below the national median of $2,690. Property taxes in Glencoe are calculated based on the tax assessed value, which often is less than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Glencoe'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 Glencoe 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
Glencoe, 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 Glencoe Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Glencoe with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Glencoe 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 Glencoe, Ohio
Property taxes in Glencoe, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Glencoe is 1.28%, higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Glencoe set these rates annually, and they can vary significantly across different neighborhoods. Each year, Glencoe 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 Glencoe's effective property tax rate to other counties in Ohio and the national median. For comparison, the 43928 zip code has the highest median property tax rate of 1.28%, while the 43928 zip code also has the lowest median tax rate of 1.28%. Understanding how these cities compare with Glencoe 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 Glencoe Tax Rate
1.28%
Average Belmont County Tax Rate
1.29%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Glencoe, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43928 | 0.92% | 1.26% | 1.28% | 1.29% | 1.30% |
Source: Ownwell
Property Tax Assessment Values Across Glencoe, Ohio
In Glencoe, 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 Glencoe, 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 Glencoe helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest median tax bill in the area is $277.00 in zip code 43928, while the lowest is also $277.00 in the same zip code.
Average Glencoe Assessed Value
$31,420
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 Glencoe, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43928 | $1,652 | $1,980 | $31,420 | $47,445 | $81,672 |
Source: Ownwell
Property Tax Bills Across Glencoe, Ohio
In Glencoe, Belmont County, OH, property tax bills are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is typically a percentage of the market value of the home, and this value is then subjected to the county's tax rate. For instance, the median home price in Glencoe is $31,420. Homeowners in Glencoe can expect their property tax bills to vary significantly. The 25th percentile tax bill is as low as $24, while the 75th percentile reaches $570, and the 90th percentile climbs to $766. These figures illustrate the range of tax burdens homeowners might face, influenced by factors such as property value and specific local tax rates. Compared to the national median property tax rate of 0.99%, Glencoe's tax bills are relatively modest, providing some financial relief to homeowners. However, understanding how these taxes are calculated and the potential variability is crucial for effective financial planning and property management.
Average Glencoe Tax Bill
$277
Average Belmont County Tax Bill
$992
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Glencoe, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43928 | $15 | $24 | $277 | $570 | $766 |
Source: Ownwell