Mc Donald, Ohio Property Taxes
The median property tax rate in Mc Donald, OH is 1.97%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Mc Donald, the typical annual property tax bill reaches $1,705, which is below the national median of $2,690. Property taxes in Mc Donald 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 Mc Donald'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 Mc Donald 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
Mc Donald, Ohio Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.8%
Estimate Property Tax Bill
$3,600
Ownwell’s MC DONALD Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in MC DONALD with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in MC DONALD 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 Mc Donald, Ohio
Property taxes in McDonald, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in McDonald is 1.97%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within McDonald set these rates annually, and they can vary significantly across different neighborhoods. Each year, McDonald estimates its required budget to maintain services for the upcoming fiscal year and 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 McDonald's effective property tax rate to other areas in Ohio and the national median. For comparison, the highest median property tax rate in Mahoning County is also 1.97%, observed in the zip code 44437, while the lowest is the same at 1.97%. Understanding how these areas compare with McDonald provides valuable insights into the varying tax landscape across Mahoning County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mc Donald Tax Rate
1.97%
Average Mahoning County Tax Rate
1.98%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mc Donald, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44437 | 1.52% | 1.84% | 1.97% | 1.97% | 2.02% |
Source: Ownwell
Property Tax Assessment Values Across Mc Donald, Ohio
In McDonald, 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 Mahoning 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 McDonald, 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 McDonald 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 $1,705 in the 44437 zip code, which is also the lowest median tax bill.
Average Mc Donald Assessed Value
$110,120
Average Mahoning County Assessed Value
$80,890
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mc Donald, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44437 | $68,422 | $84,695 | $110,120 | $122,645 | $163,892 |
Source: Ownwell
Property Tax Bills Across Mc Donald, Ohio
In McDonald, OH, property tax bills are calculated based on the assessed value of a home, which is determined by the Mahoning County Assessor. This assessed value is a percentage of the property's market value. The tax rate, applied to this assessed value, is set by local taxing authorities and funds essential services such as schools, infrastructure, and public safety. Factors influencing the property tax bill include the home's assessed value, local tax rates, and any applicable exemptions or deductions. For example, a home with a median market price of $110,120 in McDonald might see a tax bill ranging from $1,644 at the 25th percentile to $3,031 at the 90th percentile. The highest median tax bill in the area is $1,705, which is above the national median property tax rate of 0.99%. For homeowners, understanding these factors is crucial as property taxes significantly impact annual housing costs. Accurate assessments and knowledge of potential exemptions can help manage and potentially lower these expenses.
Average Mc Donald Tax Bill
$1,705
Average Mahoning County Tax Bill
$1,534
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Mc Donald, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44437 | $1,368 | $1,644 | $1,705 | $2,413 | $3,031 |
Source: Ownwell