Homeworth, Ohio Property Taxes
The median property tax rate in Homeworth, OH is 1.10%, slightly higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With the median home value in Homeworth at $133,900, the typical annual property tax bill amounts to $1,446, which is below the national median of $2,690. Property taxes in Homeworth are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as the primary residence and agricultural exemptions. Understanding Homeworth'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 Homeworth or another part of Columbiana County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Homeworth, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.1%
Estimate Property Tax Bill
$1,473
$1,367
Ownwell’s Homeworth Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Homeworth with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Homeworth 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 Homeworth, Ohio
Property taxes in Homeworth, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Homeworth is 1.10%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Homeworth set these rates annually, and they can vary significantly across different neighborhoods. Each year, Homeworth 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 Homeworth's effective property tax rate to other counties in Ohio and the national median. For comparison, the zip code 44634 has the highest median property tax rate of 1.10%, while the same zip code also has the lowest median tax rate of 1.10%. Understanding how these cities compare with Homeworth provides valuable insights into the varying tax landscape across Columbiana County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Homeworth Tax Rate
1.10%
Average Columbiana County Tax Rate
1.27%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Homeworth, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44634 | 0.93% | 1.10% | 1.10% | 1.13% | 1.16% |
Source: Ownwell
Property Tax Assessment Values Across Homeworth, Ohio
In Homeworth, Ohio, understanding the difference between "market value" and "assessed value" is essential for grasping 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 Columbiana 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 Homeworth, 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 Homeworth helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 44634 has the highest median tax bill at $1,446, which is crucial information for local homeowners.
Average Homeworth Assessed Value
$133,900
Average Columbiana County Assessed Value
$95,700
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Homeworth, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44634 | $56,940 | $91,800 | $133,900 | $190,400 | $253,840 |
Source: Ownwell
Property Tax Bills Across Homeworth, Ohio
In Homeworth, located in Columbiana County, OH, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local tax assessor and is a percentage of the market value of the property. Factors such as the property's location, size, and condition play a significant role in this assessment. Once the assessed value is established, the local tax rate is applied to calculate the annual property tax bill. Homeowners in Homeworth experience a range of property tax bills. For example, the 25th percentile tax bill is around $961, while the 75th percentile tax bill reaches approximately $2,083. For those in the 90th percentile, the tax bill can be as high as $2,785. The median home price in Homeworth is $133,900, which helps contextualize these tax figures. Compared to the national median property tax rate of 0.99%, the property tax rates in Homeworth can significantly impact homeowners, influencing their overall cost of living and financial planning.
Average Homeworth Tax Bill
$1,446
Average Columbiana County Tax Bill
$1,157
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Homeworth, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44634 | $630 | $961 | $1,446 | $2,083 | $2,785 |
Source: Ownwell