Midland, Ohio Property Taxes
The median property tax rate in Midland, OH is 1.23%, which is notably higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With the median home value in Midland at $144,040, the typical annual property tax bill amounts to $1,723, falling below the national median of $2,690. Property taxes in Midland are calculated based on the assessed value, which is often less than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Midland'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 Midland 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
Midland, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.23%
Estimate Property Tax Bill
$1,772
$1,644
Ownwell’s Midland Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Midland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Midland 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 Midland, Ohio
Property taxes in Midland, Ohio, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Midland is 1.23%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Midland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Midland 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 Midland's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45148 zip code has the highest median property tax rate of 1.23%, while the 45148 zip code also has the lowest median tax rate of 1.23%. Understanding how these cities compare with Midland provides valuable insights into the varying tax landscape across Brown County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Midland Tax Rate
1.23%
Average Brown County Tax Rate
1.17%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Midland, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45148 | 0.81% | 1.11% | 1.23% | 1.25% | 1.25% |
Source: Ownwell
Property Tax Assessment Values Across Midland, Ohio
In Midland, 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 Brown 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 Midland, 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. For instance, the median home price in Midland is $144,040, with tax bills ranging from $1,333 at the 25th percentile to $3,130 at the 90th percentile. The zip code 45148 has the highest and lowest median tax bill of $1,723. Being aware of these valuation processes in Midland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Midland Assessed Value
$144,040
Average Brown County Assessed Value
$109,630
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Midland, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45148 | $48,770 | $108,160 | $144,040 | $211,320 | $321,774 |
Source: Ownwell
Property Tax Bills Across Midland, Ohio
In Midland, Ohio, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the home's market value, and this figure is then multiplied by the local tax rate to calculate the annual tax bill. For example, with a median home price of $144,040 in Midland, homeowners can expect varying tax bills. At the 25th percentile, the tax bill is around $1,333, while at the 75th percentile, it rises to $2,211. The 90th percentile sees tax bills reaching up to $3,130. Factors influencing these variations include the specific tax rate applied by the county, any exemptions or deductions homeowners may qualify for, and the precise assessed value of the property. Comparatively, Midland's tax rates are competitive, given the national median property tax rate of 0.99%. Higher property taxes can impact homeowners by increasing their annual housing costs, which may affect budgeting and financial planning.
Average Midland Tax Bill
$1,723
Average Brown County Tax Bill
$1,244
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Midland, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45148 | $557 | $1,333 | $1,723 | $2,211 | $3,130 |
Source: Ownwell