New Springfield, Ohio Property Taxes
The median property tax rate in New Springfield, OH is 1.15%, which is significantly higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With a median home value of $113,600 in New Springfield, the typical annual property tax bill is around $1,285, which is below the national median of $2,690. Property taxes in New Springfield are calculated based on the tax assessed value, which is generally lower than the market value due to various exemptions, including primary residence and agricultural exemptions. Understanding New Springfield'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 New Springfield or another part of Columbiana County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
New Springfield, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.15%
Estimate Property Tax Bill
$1,306
$1,212
Ownwell’s New Springfield Property Tax Bill Calculator assists homeowners, real estate investors, or potential buyers in estimating their annual property taxes in New Springfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in New Springfield to estimate your property tax bill. This practical tool helps you grasp potential tax liabilities. If you’re interested in observing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by Columbiana County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across New Springfield, Ohio
Property taxes in New Springfield, Ohio, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in New Springfield is 1.15%, higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within New Springfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, New Springfield 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 New Springfield's effective property tax rate to other areas in Ohio and the national median. For comparison, the 44443 zip code has the highest median property tax rate of 1.15%, while the same zip code also has the lowest median tax rate of 1.15%. Understanding how these areas compare with New Springfield 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 New Springfield Tax Rate
1.15%
Average Columbiana County Tax Rate
1.27%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across New Springfield, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44443 | 0.95% | 1.15% | 1.15% | 1.18% | 1.18% |
Source: Ownwell
Property Tax Assessment Values Across New Springfield, Ohio
In New Springfield, 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 Columbiana County Auditor 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 New Springfield, 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. The median home price in New Springfield is $113,600, with tax bills ranging from $785 at the 25th percentile to $2,715 at the 90th percentile. Notably, the highest and lowest median tax bills are both found in the 44443 zip code, each at $1,285. By understanding 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average New Springfield Assessed Value
$113,600
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 New Springfield, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44443 | $21,020 | $82,850 | $113,600 | $161,250 | $236,640 |
Source: Ownwell
Property Tax Bills Across New Springfield, Ohio
In New Springfield, Ohio, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The tax rate, determined by local authorities in Columbiana County, is applied to this assessed value to calculate the annual property tax bill. Factors such as the location of the property, any applicable exemptions, and local tax levies influence the final amount. For homeowners in New Springfield, the property tax burden can vary significantly. The 25th percentile tax bill is around $785, while the 75th percentile reaches $1,847, and the 90th percentile climbs to $2,715. These figures highlight the range of what homeowners might expect to pay, depending on their property's assessed value and any applicable exemptions. The median home price in the area is $113,600, which helps put these tax amounts into perspective. Compared to the national median property tax rate of 0.99%, New Springfield's property taxes can be considered moderate, impacting homeowners' annual budgets accordingly.
Average New Springfield Tax Bill
$1,285
Average Columbiana County Tax Bill
$1,157
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across New Springfield, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44443 | $247 | $785 | $1,285 | $1,847 | $2,715 |
Source: Ownwell