Hanoverton, Ohio Property Taxes
The median property tax rate in Hanoverton, OH is 1.11%, slightly higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With the median home value in Hanoverton at $108,800, the typical annual property tax bill reaches $1,167, which is below the national median of $2,690. Property taxes in Hanoverton are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Hanoverton'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 Hanoverton or another part of Columbiana County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hanoverton, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.11%
Estimate Property Tax Bill
$1,208
Ownwell’s Hanoveerton Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Hanoveerton with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Hanoveerton to project your property tax bill. This valuable tool provides insight into your potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is the value assigned by Columbiana County for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Hanoverton, Ohio
Property taxes in Hanoveton, Ohio, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hanoveton is 1.11%, higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Hanoveton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hanoveton 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 Hanoveton's effective property tax rate to other counties in Ohio and the national median. For comparison, the 44423 zip code has the highest median property tax rate of 1.11%, while the same zip code also has the lowest median tax rate of 1.11%. Understanding how these cities compare with Hanoveton provides valuable insights into the varying tax landscape across Columbiana County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hanoverton Tax Rate
1.11%
Average Columbiana County Tax Rate
1.27%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hanoverton, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44423 | 0.90% | 1.08% | 1.11% | 1.12% | 1.22% |
Source: Ownwell
Property Tax Assessment Values Across Hanoverton, Ohio
In Hanoveton, 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 Columbiana County Auditor 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 Hanoveton, 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. The median home price in Hanoveton is $108,800, with the 25th percentile tax bill at $711 and the 75th percentile tax bill at $1,702. The highest and lowest median tax bill is $1,167 in the 44423 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Hanoverton Assessed Value
$108,800
Average Columbiana County Assessed Value
$95,700
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hanoverton, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44423 | $28,400 | $68,800 | $108,800 | $156,550 | $217,000 |
Source: Ownwell
Property Tax Bills Across Hanoverton, Ohio
In the city of Hanoverton, located in Columbiana County, OH, property tax bills are calculated based on the assessed value of the property, which is determined by the local tax assessor. This assessed value is a percentage of the market value of the home. The tax rate is then applied to the assessed value to determine the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value. For homeowners in Hanoverton, the median home price is $108,800. Property tax bills vary significantly, with the 25th percentile at $711 and the 75th percentile at $1,702. The 90th percentile reaches up to $2,372. These figures indicate that while some homeowners may face relatively low property taxes, others could encounter significantly higher bills. The median tax bill in the area is $1,167, which is higher than the national median property tax rate of 0.99%. This variation in tax bills can impact homeowners' financial planning and overall cost of living.
Average Hanoverton Tax Bill
$1,167
Average Columbiana County Tax Bill
$1,157
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Hanoverton, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44423 | $306 | $711 | $1,167 | $1,702 | $2,372 |
Source: Ownwell