West Farmington, Ohio Property Taxes
The median property tax rate in West Farmington, OH is 1.69%, which is considerably higher than the national median of 0.99% but slightly below the Ohio state median of 1.80%. With the median home value in West Farmington at $137,400, the typical annual property tax bill reaches $2,182, still below the national median of $2,690. Property taxes in West Farmington 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 West Farmington'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 West Farmington 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
West Farmington, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.69%
Estimate Property Tax Bill
$2,322
Ownwell’s West Farmington Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in West Farmington with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in West Farmington 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 West Farmington, Ohio
Property taxes in West Farmington, Ohio, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in West Farmington is 1.69%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within West Farmington set these rates annually, and they can vary significantly across different neighborhoods. Each year, West Farmington 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 West Farmington's effective property tax rate to other counties in Ohio and the national median. For comparison, the zip code 44491 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 West Farmington 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 West Farmington Tax Rate
1.69%
Average Trumbull County Tax Rate
1.84%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across West Farmington, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44491 | 1.26% | 1.54% | 1.69% | 1.76% | 1.88% |
Source: Ownwell
Property Tax Assessment Values Across West Farmington, Ohio
In West Farmington, 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 West Farmington, 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 West Farmington helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in the area are both $2,182, occurring in the 44491 zip code.
Average West Farmington Assessed Value
$137,400
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 West Farmington, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44491 | $62,020 | $91,400 | $137,400 | $197,600 | $260,580 |
Source: Ownwell
Property Tax Bills Across West Farmington, Ohio
Property tax bills in West Farmington, located in Trumbull County, OH, are calculated based on the assessed value of a homeowner's property. This assessed value is typically a percentage of the property's market value. For instance, if a home has a median market price of $137,400, the assessed value will be a fraction of this amount, determined by local assessment rules. The tax rate is then applied to this assessed value to determine the annual property tax bill. Several factors influence the final tax bill, including property size, location, and improvements. In West Farmington, the tax bills can vary significantly, with the 25th percentile at $1,482 and the 75th percentile at $3,211. The highest tax bills in the area can reach up to $4,307, reflecting the variability based on property characteristics and assessed values. These property taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting homeowners by contributing to community development and overall property value stability.
Average West Farmington Tax Bill
$2,182
Average Trumbull County Tax Bill
$1,518
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across West Farmington, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44491 | $990 | $1,482 | $2,182 | $3,211 | $4,307 |
Source: Ownwell