Midland, Ohio Property Taxes
The median property tax rate in Midland, Ohio is 1.59%, notably higher than the national median of 0.99% yet lower than the Ohio state median of 1.80%. With the median home value in Midland at $82,755, the typical annual property tax bill amounts to $1,438, which is below the national median of $2,690. Property taxes in Midland 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 Midland'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 Midland or another part of the city, grasping the local property tax system is beneficial for 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
1.59%
Estimate Property Tax Bill
$1,316
$1,221
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 for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Midland is 1.59%, 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 zip code 45148 has both the highest and lowest median property tax rate of 1.59%. Understanding how these cities compare with Midland provides valuable insights into the varying tax landscape across Clinton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Midland Tax Rate
1.59%
Average Clinton County Tax Rate
1.56%
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 | 1.21% | 1.38% | 1.59% | 1.90% | 2.59% |
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 Clinton 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. For example, the median home price in Midland is $82,755, with tax bills ranging from $823 at the 25th percentile to $2,772 at the 90th percentile. The highest median tax bill is $1,438 in the 45148 zip code, which also has the lowest median tax bill. 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 Midland Assessed Value
$82,755
Average Clinton County Assessed Value
$106,220
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 | $10,174 | $42,780 | $82,755 | $126,655 | $187,910 |
Source: Ownwell
Property Tax Bills Across Midland, Ohio
In Midland, property tax bills are determined based on the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to calculate the tax bill. Several factors influence the assessed value, including the home’s location, size, and condition, as well as recent sales of comparable properties in the area. For instance, the median home price in Midland is $82,755. Homeowners at the 25th percentile can expect a tax bill around $823, while those in the 75th percentile may see bills as high as $1,941. At the 90th percentile, tax bills can reach up to $2,772. These figures highlight the variability in tax bills based on property values and local tax rates. Homeowners in Midland should be aware that property taxes can significantly impact their annual expenses. Understanding how these taxes are calculated can help them anticipate and manage their financial responsibilities more effectively.
Average Midland Tax Bill
$1,438
Average Clinton County Tax Bill
$1,728
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 | $220 | $823 | $1,438 | $1,941 | $2,772 |
Source: Ownwell