Kinsman, Ohio Property Taxes
The median property tax rate in Kinsman, Ohio is 1.67%, which is significantly higher than the national median of 0.99% but slightly lower than the Ohio state median of 1.80%. With a median home value of $107,050 in Kinsman, the typical annual property tax bill amounts to $1,780, falling below the national median of $2,690. Property taxes in Kinsman 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 Kinsman'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 Kinsman or another part of Trumbull County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Kinsman, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.67%
Estimate Property Tax Bill
$1,788
Ownwell’s Kinsman Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kinsman with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kinsman 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 Kinsman, Ohio
Property taxes in Kinsman, Ohio, are essential for funding local services such as public schools, road maintenance, and emergency services. The median tax rate in Kinsman is 1.67%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Kinsman set these rates annually, and they can vary across different neighborhoods. Each year, Kinsman 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 Kinsman's effective property tax rate to other areas in Ohio and the national median. For comparison, the zip code 44428 has the same median property tax rate of 1.67%. Understanding how these areas compare with Kinsman provides valuable insights into the varying tax landscape across Trumbull County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kinsman Tax Rate
1.67%
Average Trumbull County Tax Rate
1.84%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kinsman, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44428 | 1.17% | 1.46% | 1.67% | 1.82% | 1.85% |
Source: Ownwell
Property Tax Assessment Values Across Kinsman, Ohio
In Kinsman, 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 Trumbull 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 Kinsman, 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 Kinsman helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $1,780, found in zip code 44428.
Average Kinsman Assessed Value
$107,050
Average Trumbull County Assessed Value
$82,000
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kinsman, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44428 | $36,450 | $73,250 | $107,050 | $152,825 | $218,800 |
Source: Ownwell
Property Tax Bills Across Kinsman, Ohio
Property tax bills in Kinsman, located in Trumbull County, OH, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor and typically represents a percentage of the property's market value. Factors such as property size, location, and improvements can influence this assessed value. For homeowners in Kinsman, the median home price is $107,050. With the national median property tax rate being 0.99%, the actual property tax rate in Kinsman can vary, leading to different tax bills. For instance, the tax bill at the 25th percentile is $1,177, while at the 75th percentile, it is $2,498, and at the 90th percentile, it reaches $3,554. The highest and lowest median tax bills in Kinsman are both $1,780, specifically in the 44428 zip code. These property tax bills significantly impact homeowners by influencing their annual housing costs and overall financial planning. Understanding how these factors contribute to the final tax bill can help homeowners better manage their expenses.
Average Kinsman Tax Bill
$1,780
Average Trumbull County Tax Bill
$1,518
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Kinsman, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44428 | $614 | $1,177 | $1,780 | $2,498 | $3,554 |
Source: Ownwell