Martins Ferry, Ohio Property Taxes
The median property tax rate in Martins Ferry, OH is 1.57%, which is considerably higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With a median home value of $59,290 in Martins Ferry, the typical annual property tax bill reaches $928, significantly below the national median of $2,690. Property taxes in Martins Ferry are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Martins Ferry'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 Martins Ferry 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
Martins Ferry, 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 Martins Ferry Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Martins Ferry with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Martins Ferry 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 Martins Ferry, Ohio
Property taxes in Martins Ferry, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Martins Ferry is 1.57%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Martins Ferry set these rates annually, and they can vary significantly across different neighborhoods. Each year, Martins Ferry 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 Martins Ferry's effective property tax rate to other counties in Ohio and the national median. For comparison, the zip code 43935 has the highest median property tax rate of 1.57%, while the same zip code also has the lowest median tax rate of 1.57%. Understanding how these cities compare with Martins Ferry provides valuable insights into the varying tax landscape across Belmont County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Martins Ferry Tax Rate
1.57%
Average Belmont County Tax Rate
1.29%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Martins Ferry, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43935 | 1.00% | 1.36% | 1.57% | 1.60% | 1.97% |
Source: Ownwell
Property Tax Assessment Values Across Martins Ferry, Ohio
In Martins Ferry, Ohio, understanding the distinction between "market value" and "assessed value" is essential for grasping property taxes. The market value represents the price a willing buyer would pay a willing seller in an open market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Belmont County Auditor 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 Martins Ferry, 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. For instance, the median home price in Martins Ferry stands at $59,290, with tax bills varying significantly. The 25th percentile tax bill is $544, while the 75th percentile tax bill reaches $1,367, and the 90th percentile tax bill is $1,899. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Martins Ferry Assessed Value
$59,290
Average Belmont County Assessed Value
$74,065
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Martins Ferry, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43935 | $15,090 | $39,050 | $59,290 | $84,920 | $126,380 |
Source: Ownwell
Property Tax Bills Across Martins Ferry, Ohio
In Martins Ferry, located in Belmont County, OH, property tax bills are calculated based on the assessed value of a home. The assessed value is a percentage of the market value, determined by local assessors. Homeowners in this area typically see a median property tax rate that aligns closely with the national median rate of 0.99%. Factors such as the home's market value, any applicable exemptions, and the local tax rate influence the final tax bill. For instance, with a median home price of $59,290, homeowners can expect varying tax bills. At the 25th percentile, the tax bill is around $544, while it reaches $1,367 at the 75th percentile and $1,899 at the 90th percentile. The highest median tax bill recorded in the area is $928, which is consistent across the zip code 43935. These property taxes fund essential local services, including schools, roads, and emergency services, directly impacting the community's quality of life and the value of homeownership in Martins Ferry.
Average Martins Ferry Tax Bill
$928
Average Belmont County Tax Bill
$992
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Martins Ferry, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43935 | $194 | $544 | $928 | $1,367 | $1,899 |
Source: Ownwell