Middlefield, Ohio Property Taxes
The median property tax rate in Middlefield, OH is 1.69%, considerably higher than the national median of 0.99% but slightly lower than the Ohio state median of 1.80%. With the median home value in Middlefield at $160,600, the typical annual property tax bill reaches $2,792, just below the national median of $2,690. Property taxes in Middlefield are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Middlefield'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 Middlefield 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
Middlefield, 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 MIDDLEFIELD Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in MIDDLEFIELD with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in MIDDLEFIELD 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 Middlefield, Ohio
Property taxes in Middlefield, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Middlefield is 1.69%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Middlefield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Middlefield 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 Middlefield's effective property tax rate to other counties in Ohio and the national median. For comparison, the 44062 zip code has the highest median property tax rate of 1.69%, while the same zip code also has the lowest median tax rate of 1.69%. Understanding how these cities compare with Middlefield provides valuable insights into the varying tax landscape across Geauga County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Middlefield Tax Rate
1.69%
Average Geauga County Tax Rate
1.98%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Middlefield, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44062 | 1.36% | 1.56% | 1.69% | 1.85% | 1.97% |
Source: Ownwell
Property Tax Assessment Values Across Middlefield, Ohio
In Middlefield, 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 Geauga 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 Middlefield, 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. For example, the median home price in Middlefield is $160,600, with tax bills ranging from $2,057 at the 25th percentile to $4,647 at the 90th percentile. The highest and lowest median tax bills, both at $2,792, are found in zip code 44062. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Middlefield Assessed Value
$160,600
Average Geauga County Assessed Value
$217,300
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Middlefield, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44062 | $79,380 | $119,350 | $160,600 | $209,775 | $274,610 |
Source: Ownwell
Property Tax Bills Across Middlefield, Ohio
In Middlefield, Geauga County, OH, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. Homeowners in this area can expect their tax bills to be influenced by several factors, including the local tax rate and the assessed value of their property. For example, the median home price in Middlefield is $160,600, and the property tax rate in Geauga County is an important determinant of the final tax bill. Homeowners in Middlefield might see a range of tax bills depending on their property's assessed value. The 25th percentile of tax bills is around $2,057, while the 75th percentile is approximately $3,638. At the higher end, the 90th percentile tax bill reaches up to $4,647. Compared to the national median property tax rate of 0.99%, Middlefield's tax rates can significantly impact homeowners, making it crucial for them to understand how their property taxes are calculated and what factors contribute to the final amount.
Average Middlefield Tax Bill
$2,792
Average Geauga County Tax Bill
$4,427
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Middlefield, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44062 | $1,478 | $2,057 | $2,792 | $3,638 | $4,647 |
Source: Ownwell