Damascus, Ohio Property Taxes
The median property tax rate in Damascus, OH is 1.24%, which is higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With a median home value of $118,650 in Damascus, the typical annual property tax bill is approximately $1,468, which is below the national median of $2,690. Property taxes in Damascus are calculated based on the assessed value, which is often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding the property tax system in Damascus, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Damascus or another part of Columbiana County, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Damascus, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.24%
Estimate Property Tax Bill
$1,471
Ownwell’s Damascus Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Damascus with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Damascus 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 Damascus, Ohio
Property taxes in Damascus, Ohio, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Damascus is 1.24%, higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Damascus set these rates annually, and they can vary significantly across different neighborhoods. Each year, Damascus 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 Damascus's effective property tax rate to other counties in Ohio and the national median. For comparison, the 44619 zip code has the highest median property tax rate of 1.24%, while the 44619 zip code also has the lowest median tax rate of 1.24%. Understanding how these cities compare with Damascus provides valuable insights into the varying tax landscape across Columbiana County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Damascus Tax Rate
1.24%
Average Columbiana County Tax Rate
1.27%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Damascus, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44619 | 0.95% | 1.18% | 1.24% | 1.26% | 1.27% |
Source: Ownwell
Property Tax Assessment Values Across Damascus, Ohio
In Damascus, 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 Columbiana County Auditor 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 Damascus, 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 Damascus helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $1468, found in zip code 44619, while the lowest median tax bill is also $1468, found in the same zip code.
Average Damascus Assessed Value
$118,650
Average Columbiana County Assessed Value
$95,700
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Damascus, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44619 | $87,370 | $104,725 | $118,650 | $132,225 | $200,710 |
Source: Ownwell
Property Tax Bills Across Damascus, Ohio
In Damascus, OH, property tax bills are calculated based on the assessed value of the home, which is determined by the county assessor. This value is typically a percentage of the market value. The assessed value is then multiplied by the local property tax rate, which can vary depending on the specific area within Columbiana County. For instance, the median home price in Damascus is $118,650, and the property tax rate is influenced by local levies and school district funding needs. Homeowners in Damascus can expect a range of property tax bills. The 25th percentile tax bill is around $1,080, while the 75th percentile tax bill reaches approximately $1,617. At the higher end, the 90th percentile tax bill can be as much as $2,515. These taxes fund essential public services such as schools, emergency services, and infrastructure maintenance. Compared to the national median property tax rate of 0.99%, Damascus residents experience varying tax burdens depending on their property's assessed value and specific location within the county.
Average Damascus Tax Bill
$1,468
Average Columbiana County Tax Bill
$1,157
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Damascus, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44619 | $969 | $1,080 | $1,468 | $1,617 | $2,515 |
Source: Ownwell