New Middletown, Ohio Property Taxes
The median property tax rate in New Middletown, OH is 1.55%, considerably higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With the median home value in New Middletown at $129,740, the typical annual property tax bill reaches $2,157, which is below the national median of $2,690. Property taxes in New Middletown 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 New Middletown'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 Middletown 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 Middletown, 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 New Middletown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in New Middletown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in New Middletown 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 Middletown, Ohio
Property taxes in New Middletown, Ohio, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in New Middletown is 1.55%, significantly higher than the U.S. national median of 0.99%. Local government entities within New Middletown set these rates annually, and they can vary across different neighborhoods. Each year, New Middletown 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 Middletown's effective property tax rate to other counties in the national context. For comparison, the zip code 44442 has the highest median property tax rate of 1.55%, while the lowest median tax rate is also 1.55% in the same zip code. Understanding how these cities compare with New Middletown 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 New Middletown Tax Rate
1.55%
Average Mahoning County Tax Rate
1.98%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across New Middletown, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44442 | 1.34% | 1.55% | 1.55% | 1.79% | 1.80% |
Source: Ownwell
Property Tax Assessment Values Across New Middletown, Ohio
In New Middletown, 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 New Middletown, 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 Middletown 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 $2,157 in the 44442 zip code, which also has the lowest median tax bill at $2,157.
Average New Middletown Assessed Value
$129,740
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 New Middletown, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44442 | $84,812 | $104,822 | $129,740 | $196,432 | $241,189 |
Source: Ownwell
Property Tax Bills Across New Middletown, Ohio
In New Middletown, Mahoning County, OH, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The local property tax rate is then applied to this assessed value to determine the tax bill. Various factors such as property size, location, and any improvements or renovations can impact the assessed value. Homeowners in New Middletown typically see a range of property tax bills, with the 25th percentile at $1,693 and the 75th percentile at $3,040. The highest median tax bill in the area is $2,157, which is significantly higher than the national median property tax rate of 0.99%. Understanding these factors is crucial for homeowners as they can affect annual expenses and overall property affordability. High property taxes can also influence decisions on buying or selling property in the region, making it important for residents to stay informed about their tax liabilities.
Average New Middletown Tax Bill
$2,157
Average Mahoning County Tax Bill
$1,534
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across New Middletown, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44442 | $1,306 | $1,693 | $2,157 | $3,040 | $3,752 |
Source: Ownwell