Geneva, Ohio Property Taxes
The median property tax rate in Geneva, OH is 1.73%, which is considerably higher than the national median of 0.99% but slightly below the Ohio state median of 1.80%. With a median home value of $96,700 in Geneva, the typical annual property tax bill reaches $1,642, falling below the national median of $2,690. Property taxes in Geneva are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Geneva'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 Geneva or another part of Ashtabula County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Geneva, Ohio Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.8%
Estimate Property Tax Bill
$3,600
Ownwell’s Geneva Property Tax Bill Calculator enables homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Geneva with just two simple data points. By inputting your property's estimated assessed value, the calculator uses the median tax rate in Geneva to provide an accurate estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities, making it easier to plan your finances. For those interested in more detailed trends at a neighborhood level, additional localized information is available below. Your property’s assessed value is the figure assigned by Ashtabula County for tax calculations, considering any applicable exemptions.
Property Tax Rates Across Geneva, Ohio
Property taxes in Geneva, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Geneva is 1.73%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Geneva set these rates annually, and they can vary significantly across different neighborhoods. Each year, Geneva 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 Geneva's effective property tax rate to other counties in Ohio and the national median. For comparison, the 44041 zip code has the highest median property tax rate of 1.73%, while the lowest median tax rate is also 1.73% in the same zip code. Understanding how these cities compare with Geneva provides valuable insights into the varying tax landscape across Ashtabula County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Geneva Tax Rate
1.73%
Average Ashtabula County Tax Rate
1.74%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Geneva, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44041 | 1.35% | 1.66% | 1.73% | 1.77% | 1.91% |
Source: Ownwell
Property Tax Assessment Values Across Geneva, Ohio
In Geneva, 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 Ashtabula 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 Geneva, 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 Geneva helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Geneva is $96,700. Homeowners in the 25th percentile can expect a tax bill around $1,067, while those in the 75th percentile face approximately $2,440. The highest and lowest median tax bills, both $1,642, are found in the 44041 zip code.
Average Geneva Assessed Value
$96,700
Average Ashtabula County Assessed Value
$74,100
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Geneva, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44041 | $26,270 | $63,875 | $96,700 | $137,925 | $190,600 |
Source: Ownwell
Property Tax Bills Across Geneva, Ohio
In Geneva, located in Ashtabula County, OH, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the market value of the property. Once the assessed value is established, the local tax rate is applied to determine the annual tax bill. The median home price in Geneva is $96,700, and the property tax rate in Ashtabula County is relatively high compared to the national median property tax rate of 0.99%. Homeowners in Geneva can expect their tax bills to vary significantly. For instance, the 25th percentile tax bill is around $1,067, while the 75th percentile tax bill can reach up to $2,440. At the 90th percentile, homeowners might pay as much as $3,474. These property taxes contribute to local services such as schools, infrastructure, and emergency services. Understanding these factors can help homeowners anticipate their annual expenses and plan their finances accordingly.
Average Geneva Tax Bill
$1,642
Average Ashtabula County Tax Bill
$1,299
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Geneva, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44041 | $440 | $1,067 | $1,642 | $2,440 | $3,474 |
Source: Ownwell