Homeworth, Ohio Property Taxes
The median property tax rate in Homeworth, OH is 0.65%, significantly lower than both the national median of 0.99% and Ohio's state median of 1.80%. With a median home value of $144,500 in Homeworth, the typical annual property tax bill amounts to $945, which is well below the national median of $2,690. Property taxes in Homeworth are calculated based on the assessed value, which is often lower than the market value due to exemptions like those for primary residences and agricultural properties. Understanding Homeworth's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in substantial annual savings. Whether you're in the heart of Homeworth or another part of Stark County, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Homeworth, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.65%
Estimate Property Tax Bill
$939
Ownwell’s Homeworth Property Tax Bill Calculator enables homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Homeworth with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Homeworth 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 Homeworth, Ohio
Property taxes in Homeworth, Ohio, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Homeworth is 0.65%, which is lower than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Homeworth set these rates annually, and they can vary significantly across different neighborhoods. Each year, Homeworth 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 Homeworth's effective property tax rate to other counties in Ohio and the national median. For comparison, the 44634 zip code has the highest median property tax rate of 0.65%, while the same zip code also has the lowest median tax rate of 0.65%. Understanding how these cities compare with Homeworth provides valuable insights into the varying tax landscape across Stark County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Homeworth Tax Rate
0.65%
Average Stark County Tax Rate
1.67%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Homeworth, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44634 | 0.58% | 0.62% | 0.65% | 0.98% | 1.19% |
Source: Ownwell
Property Tax Assessment Values Across Homeworth, Ohio
In Homeworth, 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 Stark 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 Homeworth, 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. For instance, the zip code with the highest median tax bill is 44634, with a median tax bill of $945. Being aware of these valuation processes in Homeworth helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Homeworth Assessed Value
$144,500
Average Stark County Assessed Value
$128,500
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Homeworth, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44634 | $84,530 | $117,725 | $144,500 | $179,975 | $252,020 |
Source: Ownwell
Property Tax Bills Across Homeworth, Ohio
In Homeworth, located in Stark County, OH, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of the market value. For instance, with a median home price of $144,500, the property tax rate applied determines the final tax bill. Factors such as local tax rates and levies, which fund community services like schools and infrastructure, play a significant role in this calculation. Homeowners in Homeworth can expect varying tax bills depending on their property's assessed value. For example, the tax bill at the 25th percentile is around $731, while at the 75th percentile, it rises to approximately $1,142. At the higher end, the 90th percentile tax bill reaches up to $1,513. These values illustrate the range of property tax burdens within the community. Compared to the national median property tax rate of 0.99%, Homeworth's tax rates reflect its specific local government funding needs, impacting homeowners differently based on their property values.
Average Homeworth Tax Bill
$945
Average Stark County Tax Bill
$801
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Homeworth, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44634 | $540 | $731 | $945 | $1,142 | $1,513 |
Source: Ownwell