Rome, Ohio Property Taxes
The median property tax rate in Rome, Ohio is 1.65%, which is considerably higher than the national median of 0.99% but slightly below the Ohio state median of 1.80%. With the median home value in Rome at $88,200, the typical annual property tax bill reaches $1,448, still below the national median of $2,690. Property taxes in Rome 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 Rome'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 Rome 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
Rome, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.65%
Estimate Property Tax Bill
$1,455
Ownwell’s Rome Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rome with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rome 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 Rome, Ohio
Property taxes in Rome, Ohio, play a crucial role in funding essential local services, including public education, road maintenance, and emergency services. The median tax rate in Rome stands at 1.65%, which is significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities in Rome set these rates annually, and they can vary considerably across different neighborhoods. Each year, Rome 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 for setting property tax rates. The data below compares Rome's effective property tax rate to other areas in Ohio and the national median. For comparison, the zip code 44085 has the highest median property tax rate of 1.65%, while the same zip code also represents the lowest median tax rate of 1.65%. Understanding how these areas compare with Rome 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 Rome Tax Rate
1.65%
Average Ashtabula County Tax Rate
1.74%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rome, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44085 | 1.30% | 1.61% | 1.65% | 1.76% | 1.83% |
Source: Ownwell
Property Tax Assessment Values Across Rome, Ohio
In Rome, 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 Rome, 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 Rome helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 44085, with a bill of $1,448, while the lowest is also 44085, reflecting a uniformity in tax assessments within the area.
Average Rome Assessed Value
$88,200
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 Rome, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44085 | $14,990 | $33,375 | $88,200 | $129,750 | $182,330 |
Source: Ownwell
Property Tax Bills Across Rome, Ohio
In Rome, located in Ashtabula County, OH, property tax bills are calculated based on the assessed value of a home, which is determined by the county's appraisal district. The assessed value is a percentage of the market value of the property. Local tax rates, set by various taxing entities such as school districts and municipal governments, are then applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including the property's location, market conditions, and any applicable exemptions or deductions. For homeowners in Rome, the median home price stands at $88,200, with tax bills ranging widely. The 25th percentile tax bill is around $582, while the 75th percentile reaches $2,222, and the 90th percentile can go up to $3,292. These figures illustrate the variability in tax obligations, which can significantly impact homeowners' budgets. Understanding how these factors interplay helps homeowners anticipate their property tax liabilities and manage their finances accordingly.
Average Rome Tax Bill
$1,448
Average Ashtabula County Tax Bill
$1,299
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Rome, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44085 | $242 | $582 | $1,448 | $2,222 | $3,292 |
Source: Ownwell