Baltic, Ohio Property Taxes
The median property tax rate in Baltic, OH is 1.27%, 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 $327,580 in Baltic, the typical annual property tax bill amounts to $4,113, significantly exceeding the national median of $2,690. Property taxes in Baltic are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Baltic's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Baltic or another part of Holmes County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Baltic, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.27%
Estimate Property Tax Bill
$4,160
Ownwell’s Baltic Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Baltic with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Baltic 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 Baltic, Ohio
Property taxes in Baltic, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Baltic is 1.27%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Baltic set these rates annually, and they can vary significantly across different neighborhoods. Each year, Baltic 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 Baltic's effective property tax rate to other counties in Ohio and the national median. For comparison, the 43804 zip code has the highest median property tax rate of 1.27%, while the same zip code also has the lowest median tax rate of 1.27%. Understanding how these cities compare with Baltic provides valuable insights into the varying tax landscape across Holmes County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Baltic Tax Rate
1.27%
Average Holmes County Tax Rate
1.25%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Baltic, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43804 | 0.58% | 1.05% | 1.27% | 1.30% | 1.51% |
Source: Ownwell
Property Tax Assessment Values Across Baltic, Ohio
In Baltic, 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 Holmes 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 Baltic, 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 Baltic 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 43804, with a median value of $4113.00, while the lowest median tax bill is also in 43804, with the same value.
Average Baltic Assessed Value
$327,580
Average Holmes County Assessed Value
$211,100
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Baltic, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43804 | $81,240 | $191,460 | $327,580 | $485,160 | $978,490 |
Source: Ownwell
Property Tax Bills Across Baltic, Ohio
In Baltic, located in Holmes County, OH, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. The assessed value is a percentage of the property's market value. For instance, a home with a median price of $327,580 will have its assessed value determined by the county's assessment ratio. This assessed value is then multiplied by the local property tax rate to calculate the annual tax bill. Several factors influence the final tax amount, including property location, home improvements, and any applicable exemptions. In Holmes County, the 25th percentile tax bill is around $2,501, while the 75th percentile reaches $5,452, and the 90th percentile can be as high as $6,560. These figures show a significant range in tax bills, reflecting the diverse property values and assessment practices in the area. Homeowners in Baltic can expect their property tax bills to be influenced by these various factors, impacting their annual financial planning.
Average Baltic Tax Bill
$4,113
Average Holmes County Tax Bill
$2,534
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Baltic, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43804 | $1,150 | $2,501 | $4,113 | $5,452 | $6,560 |
Source: Ownwell