Middle River, Ohio Property Taxes
The median property tax rate in Middle River, OH is 1.35%, which is considerably higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With the median home value in Middle River at $13,840, the typical annual property tax bill reaches $186, falling well below the national median of $2,690. Property taxes in Middle River are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Middle River'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 Middle River 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
Middle River, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.35%
Estimate Property Tax Bill
$187
Ownwell’s MIDDLE RIVER Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in MIDDLE RIVER with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in MIDDLE RIVER 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 Middle River, Ohio
Property taxes in Middle River, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Middle River is 1.35%, higher than both the Ohio state median of 1.36% and the U.S. national median of 0.99%. Local government entities within Middle River set these rates annually, and they can vary significantly across different neighborhoods. Each year, Middle River 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 Middle River's effective property tax rate to other counties in Ohio and the national median. For comparison, the highest median property tax rate in the area is 1.50%, while the lowest median tax rate is 1.20%. Understanding how these cities compare with Middle River provides valuable insights into the varying tax landscape across Pike County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Middle River Tax Rate
1.35%
Average Pike County Tax Rate
1.23%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Middle River, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Assessment Values Across Middle River, Ohio
In Middle River, 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 Pike 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 Middle River, 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. For example, the median home price in Middle River is $13,840, with tax bills at the 25th, 75th, and 90th percentiles all being $186. 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 Middle River helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Middle River Assessed Value
$13,840
Average Pike County Assessed Value
$47,540
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Middle River, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Bills Across Middle River, Ohio
In Middle River, Pike County, OH, property tax bills are calculated based on the assessed value of the property. The assessed value is a percentage of the market value determined by the county's appraisal district. Homeowners in Middle River can expect their tax bills to reflect this assessed value, multiplied by the local tax rate. The median home price in Middle River is $13,840, which is significantly lower than the national median. This lower home value directly influences the property tax bills, making them more affordable for residents. For instance, the tax bill at the 25th, 75th, and 90th percentiles is consistently $186. While the national median property tax rate stands at 0.99%, Middle River's tax rate is designed to be proportionate to the lower property values. This ensures that homeowners are not overburdened by their property tax bills, making homeownership in Middle River more accessible and financially manageable compared to other regions.
Average Middle River Tax Bill
$186
Average Pike County Tax Bill
$512
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Middle River, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell