Warnock, Ohio Property Taxes
The median property tax rate in Warnock, OH is 1.15%, which is higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With a median home value of $61,050 in Warnock, the typical annual property tax bill amounts to $435, significantly below the national median of $2,690. Property taxes in Warnock are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Warnock's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Warnock or another part of Belmont County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Warnock, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.15%
Estimate Property Tax Bill
$702
Ownwell’s Warnock Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Warnock with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Warnock 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 Warnock, Ohio
Property taxes in Warnock, Ohio are essential for funding local services such as public schools, road maintenance, and emergency services. The median tax rate in Warnock is 1.15%, which is higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Warnock set these rates annually, and they can vary significantly across different neighborhoods. Each year, Warnock 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 Warnock's effective property tax rate to other areas in Ohio and the national median. For comparison, the zip code 43967 has both the highest and lowest median property tax rate of 1.15%. Understanding how these areas compare with Warnock 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 Warnock Tax Rate
1.15%
Average Belmont County Tax Rate
1.29%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Warnock, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43967 | 0.67% | 0.68% | 1.15% | 1.18% | 1.19% |
Source: Ownwell
Property Tax Assessment Values Across Warnock, Ohio
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Warnock, Ohio. 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. 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 Warnock helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 43967 has both the highest and lowest median tax bill at $435.
Average Warnock Assessed Value
$61,050
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 Warnock, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43967 | $23,178 | $56,220 | $61,050 | $63,820 | $93,834 |
Source: Ownwell
Property Tax Bills Across Warnock, Ohio
In Warnock, Belmont County, OH, property tax bills are calculated based on the assessed value of the home, which is determined by the local tax assessor. This assessed value is then multiplied by the local tax rate to calculate the property tax bill. For homeowners in Warnock, the median home price is $61,050. The tax bill varies significantly, with the 25th percentile paying around $403 and the 75th percentile paying about $720 annually. At the 90th percentile, homeowners can expect to pay approximately $1,080. These figures indicate that while some homeowners pay relatively low property taxes, others may face higher bills depending on their home's assessed value and specific circumstances. Compared to the national median property tax rate of 0.99%, the tax rates in Warnock can be seen as relatively moderate. Homeowners need to be aware of these factors as they directly influence the affordability and financial planning associated with owning a property in this region.
Average Warnock Tax Bill
$435
Average Belmont County Tax Bill
$992
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Warnock, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43967 | $276 | $403 | $435 | $720 | $1,080 |
Source: Ownwell