Kinsman, Ohio Property Taxes
The median property tax rate in Kinsman, OH is 1.59%, which is considerably higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With a median home value of $55,800 in Kinsman, the typical annual property tax bill amounts to $872, which is well below the national median of $2,690. Property taxes in Kinsman are calculated based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Kinsman'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 Kinsman or elsewhere in the city, a thorough understanding of the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Kinsman, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.59%
Estimate Property Tax Bill
$887
Ownwell’s Kinsman Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kinsman with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kinsman 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 Kinsman, Ohio
Property taxes in Kinsman, Ohio, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kinsman is 1.59%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Kinsman set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kinsman 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 Kinsman's effective property tax rate to other counties in Ohio and the national median. For comparison, the 44428 zip code has the highest median property tax rate of 1.59%, while the same 44428 zip code also has the lowest median tax rate of 1.59%. Understanding how these cities compare with Kinsman provides valuable insights into the varying tax landscape across Ashtabula County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kinsman Tax Rate
1.59%
Average Ashtabula County Tax Rate
1.74%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kinsman, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44428 | 1.08% | 1.56% | 1.59% | 1.61% | 1.66% |
Source: Ownwell
Property Tax Assessment Values Across Kinsman, Ohio
In Kinsman, 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 Ashtabula 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 Kinsman, 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 Kinsman helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Kinsman are both $872, found in the zip code 44428.
Average Kinsman Assessed Value
$55,800
Average Ashtabula County Assessed Value
$74,100
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kinsman, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44428 | $13,400 | $28,200 | $55,800 | $122,600 | $146,800 |
Source: Ownwell
Property Tax Bills Across Kinsman, Ohio
In Kinsman, property tax bills are calculated based on the assessed value of the property, which is a percentage of the market value. The median home price in Kinsman is $55,800, and the property tax rate is applied to this assessed value to determine the tax bill. Various factors influence the tax bill, including the property's location, its assessed value, and any applicable exemptions or deductions. Homeowners in Kinsman can expect their tax bills to vary widely. For instance, the 25th percentile tax bill is $375, while the 75th percentile reaches $1,932, and the 90th percentile can be as high as $2,336. These figures illustrate the range of property tax obligations depending on the property's assessed value and other influencing factors. Understanding how these factors come together to determine the tax bill is crucial for homeowners, as it directly impacts their annual financial planning and the overall affordability of owning a home in Kinsman.
Average Kinsman Tax Bill
$872
Average Ashtabula County Tax Bill
$1,299
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Kinsman, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44428 | $61 | $375 | $872 | $1,932 | $2,336 |
Source: Ownwell