Mineral City, Ohio Property Taxes
The median property tax rate in Mineral City, OH is 1.80%, aligning exactly with the Ohio state median but significantly higher than the national median of 0.99%. With a median home value of $80,630 in Mineral City, the typical annual property tax bill amounts to $1,464, which is below the national median of $2,690. Property taxes in Mineral City are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, including those for primary residences and agricultural properties. Understanding Mineral City'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 Mineral City or another part of Carroll County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mineral City, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.8%
Estimate Property Tax Bill
$1,451
Ownwell’s Mineral City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mineral City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mineral City 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 Mineral City, Ohio
Property taxes in Mineral City, Ohio, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mineral City is 1.25%, which is higher than both the Ohio state median of 1.36% and the U.S. national median of 0.99%. Local government entities within Mineral City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mineral City 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 Mineral City's effective property tax rate to other counties in Ohio and the national median. For comparison, the 44656 zip code has the highest median property tax rate of 1.25%, while the same zip code also has the lowest median tax rate of 1.25%. Understanding how these areas compare with Mineral City provides valuable insights into the varying tax landscape across Carroll County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mineral City Tax Rate
1.80%
Average Carroll County Tax Rate
1.41%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mineral City, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44656 | 1.42% | 1.51% | 1.80% | 1.85% | 2.11% |
Source: Ownwell
Property Tax Assessment Values Across Mineral City, Ohio
In Mineral City, 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 Carroll 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 Mineral City, 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 Mineral City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 44656 at $1,464, which is significantly higher than the national median property tax rate of 0.99%.
Average Mineral City Assessed Value
$80,630
Average Carroll County Assessed Value
$85,895
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mineral City, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44656 | $3,618 | $23,872 | $80,630 | $125,850 | $179,573 |
Source: Ownwell
Property Tax Bills Across Mineral City, Ohio
In Mineral City, Carroll County, OH, property tax bills are calculated based on the assessed value of the property, which is determined by the county assessor. This assessed value is a percentage of the property's market value. The local tax rate is then applied to the assessed value to determine the annual property tax bill. For instance, with a median home price of $80,630, homeowners can expect varying tax bills depending on their property's assessed value and the applicable tax rate. Factors such as property improvements, location, and market conditions influence the assessed value. Homeowners in Mineral City experience a range of property tax bills, with the 25th percentile at $447 and the 75th percentile at $2,137. The 90th percentile tax bill can reach up to $3,000. These taxes fund essential public services, including schools, roads, and emergency services, directly impacting the community's quality of life. While the highest and lowest median tax bills in the area are both $1,464, this reflects the localized consistency in property tax assessments within the zip code 44656.
Average Mineral City Tax Bill
$1,464
Average Carroll County Tax Bill
$1,225
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Mineral City, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44656 | $96 | $447 | $1,464 | $2,137 | $3,000 |
Source: Ownwell