Deerfield, Ohio Property Taxes
The median property tax rate in Deerfield, OH is 1.42%, which is significantly higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With a median home value of $121,500 in Deerfield, the typical annual property tax bill amounts to $1,637, which is below the national median of $2,690. Property taxes in Deerfield are determined based on the assessed value, typically lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Deerfield'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 Deerfield or another part of Portage County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Deerfield, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.42%
Estimate Property Tax Bill
$1,725
Ownwell’s Deerfield Property Tax Bill Calculator enables any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Deerfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Deerfield 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 Deerfield, Ohio
Property taxes in Deerfield, Ohio, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Deerfield is 1.42%, higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Deerfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Deerfield 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 Deerfield's effective property tax rate to other counties in Ohio and the national median. For comparison, the 44411 zip code has the highest median property tax rate of 1.42%, while the 44411 zip code also has the lowest median tax rate of 1.42%. Understanding how these cities compare with Deerfield provides valuable insights into the varying tax landscape across Portage County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Deerfield Tax Rate
1.42%
Average Portage County Tax Rate
1.68%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Deerfield, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44411 | 1.15% | 1.40% | 1.42% | 1.45% | 1.49% |
Source: Ownwell
Property Tax Assessment Values Across Deerfield, Ohio
In Deerfield, 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 Portage 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 Deerfield, 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 instance, the median home price in Deerfield is $121,500, with tax bills ranging from $945 at the 25th percentile to $3,267 at the 90th percentile. 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 Deerfield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Deerfield Assessed Value
$121,500
Average Portage County Assessed Value
$162,300
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Deerfield, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44411 | $31,100 | $68,700 | $121,500 | $176,900 | $238,660 |
Source: Ownwell
Property Tax Bills Across Deerfield, Ohio
In Deerfield, Ohio, property tax bills are determined based on the assessed value of a home and the local tax rate. The assessed value is a percentage of the market value of the property, which is periodically determined by the county assessor. For instance, if a home in Deerfield has a median home price of $121,500, the tax bill will be calculated using the assessed value of that property. The local tax rate is then applied to this assessed value to determine the annual property tax bill. Several factors influence the tax bill, including property improvements, neighborhood developments, and changes in the local tax rate. Homeowners in Deerfield can expect tax bills that vary significantly, with the 25th percentile tax bill around $945 and the 75th percentile reaching up to $2,463. Comparatively, the national median property tax rate is 0.99%, making it essential for Deerfield homeowners to understand how their taxes are calculated to manage their finances effectively.
Average Deerfield Tax Bill
$1,637
Average Portage County Tax Bill
$2,735
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Deerfield, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44411 | $395 | $945 | $1,637 | $2,463 | $3,267 |
Source: Ownwell