Neffs, Ohio Property Taxes
The median property tax rate in Neffs, OH is 1.39%, which is higher than the national median of 0.99% but lower than Ohio's state median of 1.80%. With a median home value of $42,775 in Neffs, the typical annual property tax bill is $519, which is significantly below the national median of $2,690. Property taxes in Neffs are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Neffs' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Neffs or another part of Belmont County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Neffs, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.39%
Estimate Property Tax Bill
$595
Ownwell’s Neffs Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Neffs with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Neffs 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 Neffs, Ohio
Property taxes in Neffs, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Neffs is 1.39%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Neffs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Neffs 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 Neffs' effective property tax rate to other areas in Ohio and the national median. For comparison, the zip code 43940 has the highest median property tax rate of 1.39%, while the same zip code also has the lowest median tax rate of 1.39%. Understanding how these rates compare with Neffs 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 Neffs Tax Rate
1.39%
Average Belmont County Tax Rate
1.29%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Neffs, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43940 | 0.67% | 1.36% | 1.39% | 1.39% | 1.40% |
Source: Ownwell
Property Tax Assessment Values Across Neffs, Ohio
In Neffs, 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 Belmont 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 Neffs, 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 Neffs helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The 43940 zip code has the highest and lowest median tax bill, both at $519.
Average Neffs Assessed Value
$42,775
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 Neffs, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43940 | $5,327 | $22,725 | $42,775 | $55,495 | $76,849 |
Source: Ownwell
Property Tax Bills Across Neffs, Ohio
In NEFFS, located in Belmont County, OH, property tax bills are calculated based on the assessed value of a home. The county assesses the value of each property, considering factors like market conditions, property size, and improvements. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For NEFFS, the median home price is $42,775, and property tax bills can vary significantly. Homeowners in NEFFS can expect to pay around $206 at the 25th percentile, while those at the 75th percentile might pay approximately $722. At the 90th percentile, the tax bill can reach up to $1,047. The highest median tax bill recorded in the area is $519, which is relatively modest compared to the national median property tax rate of 0.99%. These taxes fund essential local services such as schools, public safety, and infrastructure, impacting the overall quality of life for residents.
Average Neffs Tax Bill
$519
Average Belmont County Tax Bill
$992
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Neffs, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43940 | $68 | $206 | $519 | $722 | $1,047 |
Source: Ownwell