New Middletwn, Ohio Property Taxes
The median property tax rate in New Middletown, OH is 1.42%, which is higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With a median home value of $123,050 in New Middletown, the typical annual property tax bill amounts to $1,745, which is below the national median of $2,690. Property taxes in New Middletown are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding New Middletown'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 New Middletown or another part of Mahoning County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
New Middletwn, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.42%
Estimate Property Tax Bill
$1,747
Ownwell’s New Middletown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in New Middletown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in New Middletown 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 New Middletwn, Ohio
Property taxes in New Middletown, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in New Middletown is 1.42%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within New Middletown set these rates annually, and they can vary significantly across different neighborhoods. Each year, New Middletown 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 New Middletown's effective property tax rate to other areas in Ohio and the national median. For comparison, the zip code 44442, which includes New Middletown, has the highest median property tax rate of 1.42%, while the same zip code also has the lowest median tax rate of 1.42%. Understanding how these cities compare with New Middletown provides valuable insights into the varying tax landscape across Mahoning County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average New Middletwn Tax Rate
1.42%
Average Mahoning County Tax Rate
1.98%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across New Middletwn, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44442 | 1.42% | 1.42% | 1.42% | 1.42% | 1.42% |
Source: Ownwell
Property Tax Assessment Values Across New Middletwn, Ohio
In New Middletown, 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 Mahoning 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 New Middletown, 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 New Middletown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $1,745, found in zip code 44442.
Average New Middletwn Assessed Value
$123,050
Average Mahoning County Assessed Value
$80,890
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across New Middletwn, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44442 | $123,050 | $123,050 | $123,050 | $123,050 | $123,050 |
Source: Ownwell
Property Tax Bills Across New Middletwn, Ohio
In New Middletown, Mahoning 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 a percentage of the home's market value, and it forms the basis for calculating the property tax bill. Several factors influence the assessed value, including the size, age, and condition of the property, as well as recent sales of similar properties in the area. The property tax rate in New Middletown is applied to the assessed value to determine the annual tax bill. For instance, with a median home price of $123,050, homeowners in this region can expect a median tax bill of around $1,745. This figure is consistent across various percentiles, indicating a uniform application of tax rates within the community. Compared to the national median property tax rate of 0.99%, New Middletown's rates are relatively competitive, making it an appealing location for homeowners. Understanding these factors helps residents plan their finances and comprehend their tax obligations better.
Average New Middletwn Tax Bill
$1,745
Average Mahoning County Tax Bill
$1,534
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across New Middletwn, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44442 | $1,745 | $1,745 | $1,745 | $1,745 | $1,745 |
Source: Ownwell