New Concord, Ohio Property Taxes
The median property tax rate in New Concord, OH is 1.51%, considerably higher than the national median of 0.99% but lower than Ohio's state median of 1.80%. With a median home value of $120,895 in New Concord, the typical annual property tax bill reaches $1,767, which is below the national median of $2,690. Property taxes in New Concord are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding New Concord'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 New Concord 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
New Concord, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.51%
Estimate Property Tax Bill
$1,826
Ownwell’s New Concord Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in New Concord with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in New Concord 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 New Concord, Ohio
Property taxes in New Concord, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in New Concord is 1.51%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within New Concord set these rates annually, and they can vary significantly across different neighborhoods. Each year, New Concord 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 New Concord's effective property tax rate to other areas in Ohio and the national median. For comparison, the 43762 zip code has the highest median property tax rate of 1.51%, while the same zip code also has the lowest median tax rate of 1.51%. Understanding how these areas compare with New Concord provides valuable insights into the varying tax landscape across Guernsey County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average New Concord Tax Rate
1.51%
Average Guernsey County Tax Rate
1.49%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across New Concord, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43762 | 1.28% | 1.50% | 1.51% | 1.53% | 1.58% |
Source: Ownwell
Property Tax Assessment Values Across New Concord, Ohio
In New Concord, 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 Guernsey 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 New Concord, 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 New Concord helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in New Concord are both $1,767, found in the 43762 zip code. The 25th percentile tax bill is $828, while the 75th percentile tax bill is $2,510, with the 90th percentile reaching $3,363.
Average New Concord Assessed Value
$120,895
Average Guernsey County Assessed Value
$64,830
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across New Concord, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43762 | $14,745 | $55,400 | $120,895 | $166,660 | $226,453 |
Source: Ownwell
Property Tax Bills Across New Concord, Ohio
In New Concord, property tax bills are calculated based on the assessed value of a home, which is determined by the local county assessor. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For instance, the median home price in New Concord is $120,895. Property owners in this area can expect their tax bills to vary significantly, with the 25th percentile tax bill around $828, while those at the 75th percentile pay approximately $2,510. The top 10% of tax bills reach up to $3,363. These figures are influenced by several factors, including the property's location, size, and any improvements made. Compared to the national median property tax rate of 0.99%, homeowners in New Concord may experience varying tax burdens depending on their property's assessed value. Understanding these factors is crucial for homeowners as it directly impacts their annual financial obligations and long-term property investment strategies.
Average New Concord Tax Bill
$1,767
Average Guernsey County Tax Bill
$953
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across New Concord, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43762 | $211 | $828 | $1,767 | $2,510 | $3,363 |
Source: Ownwell