Middlefield, Ohio Property Taxes
The median property tax rate in Middlefield, OH is 1.45%, 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 Middlefield at $187,000, the typical annual property tax bill reaches $2,624, just below the national median of $2,690. Property taxes in Middlefield 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 Middlefield'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 Middlefield 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
Middlefield, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.45%
Estimate Property Tax Bill
$2,712
Ownwell’s Middlefield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Middlefield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Middlefield 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 Middlefield, Ohio
Property taxes in Middlefield, Ohio, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Middlefield is 1.45%, significantly higher than the U.S. national median of 0.99%. Local government entities within Middlefield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Middlefield 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 Middlefield's effective property tax rate to other counties in Ohio and the national median. For comparison, the 44062 zip code has both the highest and lowest median property tax rate of 1.45%. Understanding how these cities compare with Middlefield 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 Middlefield Tax Rate
1.45%
Average Trumbull County Tax Rate
1.84%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Middlefield, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44062 | 1.10% | 1.42% | 1.45% | 1.45% | 1.51% |
Source: Ownwell
Property Tax Assessment Values Across Middlefield, Ohio
In Middlefield, 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 Middlefield, 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 44062 has the highest and lowest median tax bill at $2,624. Being aware of these valuation processes in Middlefield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Middlefield Assessed Value
$187,000
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 Middlefield, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44062 | $83,900 | $134,500 | $187,000 | $238,950 | $309,600 |
Source: Ownwell
Property Tax Bills Across Middlefield, Ohio
In Middlefield, located in Trumbull County, OH, property tax bills are calculated by applying the local tax rate to the assessed value of a property. The assessed value is typically a percentage of the property's market value, which is determined by the county assessor. Factors such as property size, location, and improvements can influence this market value. Homeowners in Middlefield can expect property tax bills that vary significantly, with the 25th percentile at $1,908 and the 75th percentile reaching $3,311. For those at the higher end, the 90th percentile tax bill is $4,112. The highest and lowest median tax bills in the area are both $2,624, reflecting the zip code 44062. This variability in tax bills means that homeowners need to be aware of how changes in property value and local tax rates can impact their financial obligations. Compared to the national median property tax rate of 0.99%, Middlefield's rates can result in substantial annual costs for property owners, emphasizing the importance of understanding these local tax dynamics.
Average Middlefield Tax Bill
$2,624
Average Trumbull County Tax Bill
$1,518
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Middlefield, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44062 | $1,192 | $1,908 | $2,624 | $3,311 | $4,112 |
Source: Ownwell