Minerva, Ohio Property Taxes
The median property tax rate in Minerva, OH is 1.65%, which is higher than both the national median of 0.99% and Ohio's state median of 1.80%. With the median home value in Minerva at $79,620, the typical annual property tax bill amounts to $1,337, surpassing the national median of $2,690. Property taxes in Minerva 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 Minerva'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 Minerva 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
Minerva, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.65%
Estimate Property Tax Bill
$1,314
$1,219
Ownwell’s Minerva Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Minerva with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Minerva 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 Minerva, Ohio
Property taxes in Minerva, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Minerva is 1.65%, significantly higher than the U.S. national median of 0.99%. Local government entities within Minerva set these rates annually, and they can vary significantly across different neighborhoods. Each year, Minerva 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. For comparison, Minerva's effective property tax rate is 1.65%, which stands out in Carroll County. Understanding how Minerva compares with other areas provides valuable insights into the varying tax landscape across Carroll County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Minerva Tax Rate
1.65%
Average Carroll County Tax Rate
1.41%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Minerva, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44657 | 1.17% | 1.44% | 1.65% | 1.84% | 1.89% |
Source: Ownwell
Property Tax Assessment Values Across Minerva, Ohio
In Minerva, 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 Carroll 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 Minerva, 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 Minerva helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 44657 has both the highest and lowest median tax bill, recorded at $1,337.
Average Minerva Assessed Value
$79,620
Average Carroll County Assessed Value
$85,895
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Minerva, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44657 | $4,925 | $30,980 | $79,620 | $113,330 | $171,882 |
Source: Ownwell
Property Tax Bills Across Minerva, Ohio
Property tax bills in Minerva, located in Carroll County, OH, are determined by assessing the market value of a property and applying the local tax rate to this value. The assessed value is a percentage of the market value, which is then multiplied by the tax rate set by local authorities. Factors such as property size, location, and improvements can influence the assessed value. For homeowners in Minerva, this means that properties with higher market values will incur higher tax bills. For instance, with a median home price of $79,620, homeowners can expect varying tax bills. The 25th percentile tax bill is around $619, while those at the 75th percentile pay approximately $1,831. At the 90th percentile, the tax bill can reach up to $2,497. These figures highlight the range of property tax bills within the community. Comparing this to the national median property tax rate of 0.99%, Minerva's property taxes reflect the local economic and property market conditions, directly impacting homeowners' financial planning and budgeting.
Average Minerva Tax Bill
$1,337
Average Carroll County Tax Bill
$1,225
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Minerva, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44657 | $103 | $619 | $1,337 | $1,831 | $2,497 |
Source: Ownwell