Sharon Center, Ohio Property Taxes
The median property tax rate in Sharon Center, OH is 1.39%, which is 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 Sharon Center at $130,095, the typical annual property tax bill is $1,795, falling below the national median of $2,690. Property taxes in Sharon Center are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Sharon Center'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 Sharon Center 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
Sharon Center, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.39%
Estimate Property Tax Bill
$1,808
Ownwell’s Sharon Center Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes with ease. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Sharon Center to provide an accurate estimate of your property tax bill. This tool offers a clear understanding of potential tax liabilities and helps you make informed financial decisions. If you're curious about neighborhood-level trends, scroll down for more localized information. Your property's assessed value, determined by Medina County, is used for property tax calculations, considering any applicable exemptions.
Property Tax Rates Across Sharon Center, Ohio
Property taxes in Sharon Center, Ohio, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Sharon Center is 1.39%, higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Sharon Center set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sharon Center 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 Sharon Center's effective property tax rate to other counties in Ohio and the national median. For comparison, the 44274 zip code has both the highest and lowest median property tax rate of 1.39%. Understanding how these areas compare with Sharon Center provides valuable insights into the varying tax landscape across Medina County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Sharon Center Tax Rate
1.39%
Average Medina County Tax Rate
1.53%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sharon Center, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44274 | 1.08% | 1.22% | 1.39% | 1.43% | 1.43% |
Source: Ownwell
Property Tax Assessment Values Across Sharon Center, Ohio
In Sharon Center, 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 Medina 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 Sharon Center, 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. For example, the median home price in Sharon Center is $130,095, with tax bills ranging from $1,192 at the 25th percentile to $4,505 at the 90th percentile. Both the highest and lowest median tax bills in the area are $1,795, found in zip code 44274. 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 Sharon Center helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Sharon Center Assessed Value
$130,095
Average Medina County Assessed Value
$233,850
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Sharon Center, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44274 | $76,329 | $110,695 | $130,095 | $197,202 | $317,202 |
Source: Ownwell
Property Tax Bills Across Sharon Center, Ohio
In Sharon Center, located in Medina County, OH, property tax bills are calculated based on the assessed value of a home. The assessed value is a percentage of the property's market value, determined by the county assessor. Homeowners in Sharon Center pay a median property tax bill of approximately $1,795, which is significantly lower than the national median property tax rate of 0.99%. Several factors influence the property tax bill, including the home's assessed value, local tax rates, and any applicable exemptions. For example, homeowners with properties in the 25th percentile can expect to pay around $1,192, while those in the 75th percentile might see bills as high as $2,677. The highest tax bills, found in the 90th percentile, can reach up to $4,505. These taxes are crucial for funding local services such as schools, public safety, and infrastructure. Lower property taxes in Sharon Center offer a financial advantage for homeowners, making it an appealing location for those looking to manage their housing costs effectively.
Average Sharon Center Tax Bill
$1,795
Average Medina County Tax Bill
$3,537
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Sharon Center, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44274 | $1,089 | $1,192 | $1,795 | $2,677 | $4,505 |
Source: Ownwell