North Bloomfield, Ohio Property Taxes
The median property tax rate in North Bloomfield, OH is 1.58%, considerably higher than the national median of 0.99% but lower than Ohio's state median of 1.80%. With the median home value in North Bloomfield, the typical annual property tax bill reaches $266, which is significantly below the national median of $2,690. Property taxes in North Bloomfield 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 North Bloomfield'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 North Bloomfield 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
North Bloomfield, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.58%
Estimate Property Tax Bill
$265
Ownwell’s North Bloomfield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in North Bloomfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in North Bloomfield 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 North Bloomfield, Ohio
Property taxes in North Bloomfield, OH, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in North Bloomfield is 1.58%, significantly higher than the U.S. national median of 0.99%. Local government entities within North Bloomfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, North Bloomfield 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 North Bloomfield's effective property tax rate to other counties in Ohio and the national median. For comparison, the 44450 zip code has the highest median property tax rate of 1.58%, while the 44450 zip code also has the lowest median tax rate of 1.58%. Understanding how these cities compare with North Bloomfield 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 North Bloomfield Tax Rate
1.58%
Average Ashtabula County Tax Rate
1.74%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across North Bloomfield, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44450 | 1.58% | 1.58% | 1.58% | 1.58% | 1.58% |
Source: Ownwell
Property Tax Assessment Values Across North Bloomfield, Ohio
In North Bloomfield, 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 North Bloomfield, 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 North Bloomfield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 44450 has both the highest and lowest median tax bill at $266, reflecting the uniformity in property tax assessments in the area.
Average North Bloomfield Assessed Value
$16,800
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 North Bloomfield, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44450 | $16,800 | $16,800 | $16,800 | $16,800 | $16,800 |
Source: Ownwell
Property Tax Bills Across North Bloomfield, Ohio
In North Bloomfield, located in Ashtabula County, OH, property tax bills are calculated based on the assessed value of a property, which is determined by the county's appraisal office. The assessed value is a percentage of the property's market value, and this figure is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in North Bloomfield, the median home price is $16,800, which is significantly lower than the national median. Consequently, the property tax rate in this area is relatively modest. Factors that influence the tax bill include the property's assessed value and the local tax rate. In North Bloomfield, the tax bill remains consistent across different percentiles, with the 25th, 75th, and 90th percentiles all reporting a tax bill of $266. This uniformity suggests a stable tax environment for homeowners, providing predictability in annual expenses. Compared to the national median property tax rate of 0.99%, North Bloomfield offers an affordable option for residents, significantly reducing the financial burden on homeowners.
Average North Bloomfield Tax Bill
$266
Average Ashtabula County Tax Bill
$1,299
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across North Bloomfield, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44450 | $266 | $266 | $266 | $266 | $266 |
Source: Ownwell