Garrettsville, Ohio Property Taxes
The median property tax rate in Garrettsville, OH is 1.55%, which is notably higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With the median home value in Garrettsville, the typical annual property tax bill reaches $1,795, falling below the national median of $2,690. Property taxes in Garrettsville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Garrettsville'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 Garrettsville 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
Garrettsville, 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 Garrettsville Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Garrettsville using just two key data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Garrettsville to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. If you’re curious about trends at the neighborhood level, scroll down to access more detailed local information. Your property’s assessed value is the value assigned by the county for property tax calculations, factoring in any applicable exemptions.
Property Tax Rates Across Garrettsville, Ohio
Property taxes in Garrettsville, Ohio, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Garrettsville is 1.55%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Garrettsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Garrettsville 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 Garrettsville's effective property tax rate to other counties in Ohio and the national median. For comparison, the 44231 zip code has the highest median property tax rate of 1.55%, while the same zip code also has the lowest median tax rate of 1.55%. Understanding how these cities compare with Garrettsville provides valuable insights into the varying tax landscape across Trumbull County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Garrettsville Tax Rate
1.55%
Average Trumbull County Tax Rate
1.84%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Garrettsville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44231 | 1.46% | 1.54% | 1.55% | 1.56% | 1.58% |
Source: Ownwell
Property Tax Assessment Values Across Garrettsville, Ohio
In Garrettsville, 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 Trumbull 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 Garrettsville, 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 Garrettsville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Garrettsville are both $1795, found in the 44231 zip code.
Average Garrettsville Assessed Value
$127,500
Average Trumbull County Assessed Value
$82,000
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Garrettsville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44231 | $92,560 | $105,550 | $127,500 | $168,175 | $206,830 |
Source: Ownwell
Property Tax Bills Across Garrettsville, Ohio
In Garrettsville, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the market value of the property. Homeowners in Garrettsville, located in Trumbull County, typically see a median home price of $127,500. Property tax rates in this area can vary, but the median tax bill stands at $1,795, which is slightly above the national median property tax rate of 0.99%. Several factors influence the final tax bill, including the property's assessed value, local tax rates, and any applicable exemptions or deductions. For instance, homeowners in the 25th percentile might pay around $1,633, while those in the 75th percentile could see bills as high as $2,602. At the 90th percentile, the tax bill can reach up to $3,189. These taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the quality of life for residents.
Average Garrettsville Tax Bill
$1,795
Average Trumbull County Tax Bill
$1,518
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Garrettsville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44231 | $1,433 | $1,633 | $1,795 | $2,602 | $3,189 |
Source: Ownwell