Montville, Ohio Property Taxes
The median property tax rate in Montville, OH is 1.78%, which is notably higher than both the national median of 0.99% and Ohio's state median of 1.80%. With the median home value in Montville at $163,900, the typical annual property tax bill reaches $2,883, surpassing the national median of $2,690. Property taxes in Montville are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Montville'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 Montville 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
Montville, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.78%
Estimate Property Tax Bill
$2,917
Ownwell’s Montville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Montville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Montville 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 Montville, Ohio
Property taxes in Montville, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Montville is 1.78%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Montville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Montville 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 Montville's effective property tax rate to other counties in Ohio and the national median. For comparison, the 44064 zip code has the highest median property tax rate of 1.78%, while the 44064 zip code also has the lowest median tax rate of 1.78%. Understanding how these areas compare with Montville provides valuable insights into the varying tax landscape across Geauga County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Montville Tax Rate
1.78%
Average Geauga County Tax Rate
1.98%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Montville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44064 | 1.45% | 1.65% | 1.78% | 1.88% | 2.02% |
Source: Ownwell
Property Tax Assessment Values Across Montville, Ohio
In Montville, 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 Geauga 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 Montville, 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 Montville 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 $2883 in the 44064 zip code, while the lowest median tax bill is also $2883 in the same zip code, highlighting a uniform tax scenario within the region.
Average Montville Assessed Value
$163,900
Average Geauga County Assessed Value
$217,300
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Montville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44064 | $77,560 | $122,000 | $163,900 | $216,200 | $292,840 |
Source: Ownwell
Property Tax Bills Across Montville, Ohio
In Montville, located in Geauga County, OH, property tax bills are calculated based on the assessed value of your home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine your annual tax bill. Various factors such as property size, location, and improvements can influence the market value, thereby affecting the assessed value and the final tax bill. For homeowners in Montville, the median home price stands at $163,900. The tax bill varies significantly across different percentiles, with the 25th percentile at $2,113 and the 75th percentile at $3,895. The 90th percentile sees tax bills as high as $5,164. Comparatively, the highest median tax bill in the area is $2,883, recorded in the 44064 zip code. Understanding these figures is crucial for homeowners as property taxes can significantly impact annual expenses, influencing decisions on home purchases and budgeting.
Average Montville Tax Bill
$2,883
Average Geauga County Tax Bill
$4,427
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Montville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44064 | $1,295 | $2,113 | $2,883 | $3,895 | $5,164 |
Source: Ownwell