Twinsburg, Ohio Property Taxes
The median property tax rate in Twinsburg, OH is 1.42%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Twinsburg at $281,210, the typical annual property tax bill reaches $3,991, exceeding the national median of $2,690. Property taxes in Twinsburg 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 Twinsburg'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 Twinsburg 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
Twinsburg, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.42%
Estimate Property Tax Bill
$3,993
Ownwell’s Twinsburg Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Twinsburg with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Twinsburg to provide an accurate estimate of your property tax bill. This valuable tool offers a clear understanding of potential tax liabilities, helping you make informed financial decisions. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property's assessed value is determined by Summit County for property tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Twinsburg, Ohio
Property taxes in Twinsburg, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Twinsburg is 1.42%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Twinsburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Twinsburg 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 Twinsburg's effective property tax rate to other areas in Summit County and the national median. For comparison, the zip code 44087 in Twinsburg has the highest median property tax rate of 1.42%, while the same zip code also represents the lowest median tax rate of 1.42%. Understanding how Twinsburg compares with other areas provides valuable insights into the varying tax landscape across Summit County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Twinsburg Tax Rate
1.42%
Average Summit County Tax Rate
1.63%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Twinsburg, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44087 | 1.26% | 1.35% | 1.42% | 1.54% | 1.66% |
Source: Ownwell
Property Tax Assessment Values Across Twinsburg, Ohio
In Twinsburg, 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 Summit 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 Twinsburg, 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 Twinsburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Twinsburg is $281,210, with the highest median tax bill at $3,991 in zip code 44087.
Average Twinsburg Assessed Value
$281,210
Average Summit County Assessed Value
$168,880
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Twinsburg, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44087 | $154,606 | $205,265 | $281,210 | $366,915 | $437,154 |
Source: Ownwell
Property Tax Bills Across Twinsburg, Ohio
In Twinsburg, located in Summit County, OH, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is a percentage of the home's market value, reflecting its worth in the current real estate market. Factors such as property size, location, and any improvements made to the property play a crucial role in determining this value. Once the assessed value is established, the local tax rate is applied to calculate the annual property tax bill. For homeowners in Twinsburg, the median home price is $281,210. Tax bills can vary significantly, with the 25th percentile at $2,771 and the 75th percentile reaching $5,447. At the 90th percentile, tax bills can be as high as $6,690. This variation in property tax bills can impact homeowners by influencing their overall housing affordability and financial planning. Compared to the national median property tax rate of 0.99%, Twinsburg's property taxes reflect the local economic conditions and public service funding needs, making it essential for homeowners to stay informed about their tax liabilities.
Average Twinsburg Tax Bill
$3,991
Average Summit County Tax Bill
$2,683
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Twinsburg, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44087 | $2,073 | $2,771 | $3,991 | $5,447 | $6,690 |
Source: Ownwell