Middlefield, Ohio Property Taxes
The median property tax rate in Middlefield, OH is 1.72%, notably higher than the national median of 0.99% but slightly below the Ohio state median of 1.80%. With a median home value of $169,150 in Middlefield, the typical annual property tax bill amounts to $2,859, surpassing the national median of $2,690. Property taxes in Middlefield are determined based on the tax assessed value, which often falls below the market value due to 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, comprehending 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
1.72%
Estimate Property Tax Bill
$2,909
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 1.72%, 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 the highest median property tax rate of 1.72%, while also having the lowest median tax rate of 1.72%. Understanding how these cities compare with Middlefield 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 Middlefield Tax Rate
1.72%
Average Ashtabula County Tax Rate
1.74%
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 | 1.69% | 1.69% | 1.72% | 1.73% | 1.77% |
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 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 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. The median home price in Middlefield is $169,150, with tax bills ranging from $2,289 at the 25th percentile to $5,508 at the 90th percentile. The highest and lowest median tax bills are both $2,859 in zip code 44062. 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 Middlefield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Middlefield Assessed Value
$169,150
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 Middlefield, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44062 | $41,670 | $142,350 | $169,150 | $208,250 | $246,900 |
Source: Ownwell
Property Tax Bills Across Middlefield, Ohio
Property tax bills in Middlefield, located in Ashtabula County, OH, are determined based on the assessed value of a property and the local tax rate. The assessed value is a percentage of the market value of the home, which in Middlefield has a median home price of $169,150. This value is then multiplied by the local tax rate to calculate the annual tax bill. Several factors influence the assessed value, including property size, location, and any improvements made to the home. Homeowners in Middlefield can expect property tax bills to vary significantly. For example, the 25th percentile tax bill is around $2,289, while the 75th percentile tax bill reaches $3,656, and the 90th percentile tax bill can be as high as $5,508. These property tax bills can have a considerable impact on homeowners, influencing their overall cost of living and potentially affecting decisions related to homeownership and property improvements. Compared to the national median property tax rate of 0.99%, Middlefield's rates reflect its unique local factors and economic conditions.
Average Middlefield Tax Bill
$2,859
Average Ashtabula County Tax Bill
$1,299
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 | $725 | $2,289 | $2,859 | $3,656 | $5,508 |
Source: Ownwell