Cuba, Ohio Property Taxes
The median property tax rate in Cuba, OH is 1.48%, which is considerably higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With a median home value of $58,325 in Cuba, the typical annual property tax bill amounts to $1,030, which is below the national median of $2,690. Property taxes in Cuba are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Cuba'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 Cuba 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
Cuba, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.48%
Estimate Property Tax Bill
$863
Ownwell’s Cuba Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cuba with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cuba 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 Cuba, Ohio
Property taxes in Cuba, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cuba is 1.48%, higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Cuba set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cuba 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 Cuba's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45177 zip code has the highest median property tax rate of 1.51%, while the 45114 zip code has the lowest median tax rate of 1.06%. Understanding how these cities compare with Cuba provides valuable insights into the varying tax landscape across Clinton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cuba Tax Rate
1.48%
Average Clinton County Tax Rate
1.56%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cuba, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45114 | 1.06% | 1.06% | 1.06% | 1.06% | 1.06% |
| 45177 | 1.08% | 1.30% | 1.51% | 1.81% | 2.21% |
Source: Ownwell
Property Tax Assessment Values Across Cuba, Ohio
In Cuba, 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 Clinton 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 Cuba, 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 Cuba helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Clinton County is $1,036 in the 45177 zip code, while the lowest is $123 in the 45114 zip code.
Average Cuba Assessed Value
$58,325
Average Clinton County Assessed Value
$106,220
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cuba, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45114 | $11,570 | $11,570 | $11,570 | $11,570 | $11,570 |
| 45177 | $11,986 | $30,610 | $64,260 | $107,260 | $142,484 |
Source: Ownwell
Property Tax Bills Across Cuba, Ohio
In Cuba, Clinton County, OH, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual property tax bill. For instance, with a median home price of $58,325, homeowners can expect varying tax bills depending on their property's assessed value and the specific tax rate in their area. Factors such as the home's location within different zip codes can significantly affect the tax bill. For example, the highest median tax bill in the county is $1,036 in the 45177 zip code, while the lowest is $123 in the 45114 zip code. This range illustrates the disparity in tax burdens within the county. Nationally, the median property tax rate is 0.99%, and comparing this to local rates provides insight into how homeowners in Cuba might fare. Higher property taxes can impact homeowners by increasing their annual expenses, making it crucial to understand how these taxes are determined.
Average Cuba Tax Bill
$1,030
Average Clinton County Tax Bill
$1,728
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Cuba, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45114 | $123 | $123 | $123 | $123 | $123 |
| 45177 | $141 | $621 | $1,036 | $1,354 | $1,923 |
Source: Ownwell