Montville, Ohio Property Taxes
The median property tax rate in Montville, OH is 1.76%, which is considerably higher than the national median of 0.99% yet slightly below the Ohio state median of 1.80%. With a median home value of $66,900 in Montville, the typical annual property tax bill reaches $1,173, falling short of the national median of $2,690. Property taxes in Montville 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 Montville'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 Montville 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
Montville, 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 Montville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Montville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Montville 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 Montville, Ohio
Property taxes in Montville, Ohio, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Montville is 1.76%, significantly higher than the U.S. national median of 0.99%. Local government entities within Montville set these rates annually, and they can vary across different neighborhoods. Each year, Montville 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 Montville's effective property tax rate to other areas in Ohio and the national median. For comparison, the 44064 zip code has the highest median property tax rate of 1.76%, while the same zip code also has the lowest median tax rate of 1.76%. Understanding how these areas compare with Montville 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 Montville Tax Rate
1.76%
Average Ashtabula County Tax Rate
1.74%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Montville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44064 | 1.74% | 1.74% | 1.76% | 1.77% | 1.83% |
Source: Ownwell
Property Tax Assessment Values Across Montville, Ohio
In Montville, 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 Montville, 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 median home price in Montville is $66,900, with tax bills ranging significantly. The 25th percentile tax bill is $465, while the 75th percentile tax bill is $2,162. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Montville Assessed Value
$66,900
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 Montville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44064 | $5,400 | $26,400 | $66,900 | $105,600 | $151,500 |
Source: Ownwell
Property Tax Bills Across Montville, Ohio
In Montville, OH, property tax bills are calculated based on the assessed value of a home, not its market value. The assessed value is determined by the local assessor's office and typically represents a percentage of the market value. Factors such as property size, location, and improvements can influence this assessed value. Once the assessed value is established, the local tax rate is applied to calculate the tax bill. For homeowners in Montville, the median home price stands at $66,900. The property tax rate in this area results in a diverse range of tax bills. For instance, the 25th percentile tax bill is $465, while the 75th percentile tax bill is $2,162. At the 90th percentile, homeowners could see tax bills as high as $2,632. These taxes are crucial for funding public services such as schools, infrastructure, and emergency services, directly impacting the community's quality of life. Understanding these factors can help homeowners better anticipate their property tax obligations and plan accordingly.
Average Montville Tax Bill
$1,173
Average Ashtabula County Tax Bill
$1,299
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Montville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44064 | $95 | $465 | $1,173 | $2,162 | $2,632 |
Source: Ownwell