Mingo Junction, Ohio Property Taxes
The median property tax rate in Mingo Junction, OH is 2.73%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Mingo Junction at $48,280, the typical annual property tax bill reaches $1,236, which, while lower than the national median of $2,690, still represents a significant expense for homeowners. Property taxes in Mingo Junction are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Mingo Junction'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 Mingo Junction or another part of Jefferson County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mingo Junction, 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 Mingo Junction Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mingo Junction with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mingo Junction 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 Mingo Junction, Ohio
Property taxes in Mingo Junction, Ohio, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Mingo Junction is 1.37%, significantly higher than both the Ohio state median of 1.36% and the U.S. national median of 0.99%. Local government entities in Mingo Junction set these rates annually, and they can vary considerably across different neighborhoods. Each year, Mingo Junction 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 Mingo Junction's effective property tax rate to other counties in Ohio and the national median. For comparison, the zip code 43938 has the highest median property tax rate of 1.37%, while the same zip code also has the lowest median tax rate of 1.37%. Understanding how these cities compare with Mingo Junction provides valuable insights into the varying tax landscape across Jefferson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mingo Junction Tax Rate
2.73%
Average Jefferson County Tax Rate
2.19%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mingo Junction, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43938 | 1.98% | 2.48% | 2.73% | 2.73% | 2.73% |
Source: Ownwell
Property Tax Assessment Values Across Mingo Junction, Ohio
In Mingo Junction, 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 Jefferson County 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 Mingo Junction, 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 Mingo Junction is $48,280, with tax bills ranging from $715 at the 25th percentile to $2,906 at the 90th percentile. The highest and lowest median tax bills are both $1,236 in the 43938 zip code. 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 Mingo Junction helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Mingo Junction Assessed Value
$48,280
Average Jefferson County Assessed Value
$67,215
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mingo Junction, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43938 | $10,250 | $28,555 | $48,280 | $78,860 | $111,320 |
Source: Ownwell
Property Tax Bills Across Mingo Junction, Ohio
In Mingo Junction, Jefferson County, OH, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is then multiplied by the local tax rate to derive the annual property tax bill. Factors such as the home's size, location, and market conditions influence its assessed value. For instance, the median home price in Mingo Junction is $48,280, and the property tax rate in the area is higher than the national median of 0.99%. Homeowners in Mingo Junction can expect varying property tax bills depending on their property's value. The 25th percentile of tax bills is around $715, while the 75th percentile reaches up to $2,084. At the 90th percentile, tax bills can be as high as $2,906. The highest median tax bill in the area is $1,236, which is also the lowest, indicating uniformity in the median tax rate across different zip codes. These property taxes fund essential public services, impacting homeowners by contributing to community infrastructure and amenities.
Average Mingo Junction Tax Bill
$1,236
Average Jefferson County Tax Bill
$1,517
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Mingo Junction, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43938 | $252 | $715 | $1,236 | $2,084 | $2,906 |
Source: Ownwell