New Holland, Ohio Property Taxes
The median property tax rate in New Holland, OH is 1.50%, which is considerably higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With a median home value of $162,000 in New Holland, the typical annual property tax bill reaches $2,341, falling below the national median of $2,690. Property taxes in New Holland are calculated based on the assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding New Holland'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 New Holland 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
New Holland, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.5%
Estimate Property Tax Bill
$2,430
Ownwell’s New Holland Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in New Holland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in New Holland 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 New Holland, Ohio
Property taxes in New Holland, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in New Holland is 1.50%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within New Holland set these rates annually, and they can vary significantly across different neighborhoods. Each year, New Holland 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 Holland's effective property tax rate to other counties in Ohio and the national median. For comparison, the 43145 zip code has the highest median property tax rate of 1.50%, while the 43145 zip code also has the lowest median tax rate of 1.50%. Understanding how these cities compare with New Holland provides valuable insights into the varying tax landscape across Fayette County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average New Holland Tax Rate
1.50%
Average Fayette County Tax Rate
1.38%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across New Holland, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43145 | 0.81% | 1.29% | 1.50% | 1.53% | 1.71% |
Source: Ownwell
Property Tax Assessment Values Across New Holland, Ohio
In New Holland, 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 Fayette 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 New Holland, 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 example, the highest median tax bill in New Holland is $2,341 in the 43145 zip code. Being aware of these valuation processes in New Holland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average New Holland Assessed Value
$162,000
Average Fayette County Assessed Value
$107,500
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across New Holland, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43145 | $63,740 | $108,900 | $162,000 | $250,500 | $447,220 |
Source: Ownwell
Property Tax Bills Across New Holland, Ohio
In New Holland, Fayette County, OH, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. For instance, if the median home price is $162,000, the assessed value will be a fraction of this amount as determined by local assessment rules. The property tax rate is then applied to this assessed value to determine the tax bill. Several factors influence the final tax bill, including the property's location, the local tax rate, and any applicable exemptions or deductions. Homeowners in New Holland may see tax bills ranging from $1,583 at the 25th percentile to $4,925 at the 90th percentile. This variability can significantly impact household budgets, making it crucial for homeowners to understand their property's assessed value and the local tax rate. Compared to the national median property tax rate of 0.99%, homeowners in New Holland may find their tax bills either slightly above or below this benchmark, depending on their specific circumstances. Understanding these factors can help homeowners manage their finances more effectively.
Average New Holland Tax Bill
$2,341
Average Fayette County Tax Bill
$1,527
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across New Holland, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43145 | $1,037 | $1,583 | $2,341 | $3,338 | $4,925 |
Source: Ownwell