Monroeville, Ohio Property Taxes
The median property tax rate in Monroeville, Ohio is 1.49%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Monroeville at $116,530, the typical annual property tax bill reaches $1,680, which is below the national median of $2,690. Property taxes in Monroeville 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 Monroeville'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 Monroeville 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
Monroeville, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.49%
Estimate Property Tax Bill
$1,736
Ownwell’s Monroeville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Monroeville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Monroeville 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 Monroeville, Ohio
Property taxes in Monroeville, Ohio, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Monroeville is 1.49%, significantly higher than the U.S. national median of 0.99%. Local government entities within Monroeville set these rates annually, and they can vary across different neighborhoods. Each year, Monroeville 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 Monroeville's effective property tax rate to other areas in Ohio and the national median. For comparison, the zip code 44847 has the highest median property tax rate of 1.49%, while the same zip code also has the lowest median tax rate of 1.49%. Understanding how these figures compare with Monroeville provides valuable insights into the varying tax landscape across Huron County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Monroeville Tax Rate
1.49%
Average Huron County Tax Rate
1.36%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Monroeville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44847 | 1.20% | 1.48% | 1.49% | 1.51% | 1.52% |
Source: Ownwell
Property Tax Assessment Values Across Monroeville, Ohio
In Monroeville, Ohio, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value represents the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors such as location, property condition, and economic trends. This value is estimated by the Huron 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. 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. In Monroeville, the median home price is $116,530, with the 25th percentile tax bill at $1,217 and the 75th percentile at $2,253. The zip code with both the highest and lowest median tax bill is 44847, at $1,680. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Monroeville Assessed Value
$116,530
Average Huron County Assessed Value
$102,520
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Monroeville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44847 | $35,637 | $85,480 | $116,530 | $155,130 | $205,581 |
Source: Ownwell
Property Tax Bills Across Monroeville, Ohio
In Monroeville, located in Huron County, OH, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor and is a percentage of the property's market value. For instance, if the median home price in Monroeville is $116,530, the assessed value would be a fraction of this amount, depending on the county's assessment ratio. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. Factors such as property improvements, neighborhood developments, and changes in market conditions can influence the assessed value, thereby affecting the tax bill. Homeowners in Monroeville typically see tax bills ranging from $1,217 at the 25th percentile to $3,050 at the 90th percentile, with the median tax bill standing at $1,680. This is notably higher than the national median property tax rate of 0.99%, highlighting the impact of local tax policies on homeowners in this area.
Average Monroeville Tax Bill
$1,680
Average Huron County Tax Bill
$1,432
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Monroeville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44847 | $635 | $1,217 | $1,680 | $2,253 | $3,050 |
Source: Ownwell