West Farmington, Geauga County, Ohio Property Taxes
The median property tax rate in West Farmington, OH is 1.57%, which is notably higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With a median home value of $209,300 in West Farmington, the typical annual property tax bill amounts to $3,195, surpassing the national median of $2,690. Property taxes in West Farmington are calculated based on the assessed value, which is often lower than the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding West Farmington'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 West Farmington or another part of Geauga County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
West Farmington, Geauga County, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.57%
Estimate Property Tax Bill
$3,286
$3,049
Ownwell’s West Farmington Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in West Farmington with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in West Farmington 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 West Farmington, Geauga County, Ohio
Property taxes in West Farmington, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in West Farmington is 1.57%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within West Farmington set these rates annually, and they can vary significantly across different neighborhoods. Each year, West Farmington 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 West Farmington's effective property tax rate to other areas in Ohio and the national median. For comparison, the 44491 zip code has the highest median property tax rate of 1.57%, while the same 44491 zip code also has the lowest median tax rate of 1.57%. Understanding how these areas compare with West Farmington provides valuable insights into the varying tax landscape across Geauga County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average West Farmington Tax Rate
1.57%
Average Geauga County Tax Rate
1.98%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across West Farmington, Geauga County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44491 | 1.31% | 1.45% | 1.57% | 1.59% | 1.69% |
Source: Ownwell
Property Tax Assessment Values Across West Farmington, Geauga County, Ohio
In West Farmington, 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 Geauga 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 West Farmington, 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 West Farmington helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in the area both stand at $3,195, specifically in the 44491 zip code.
Property Tax Assessment Values Across West Farmington, Geauga County, Ohio
Source: Ownwell
$135,450
$339,950
$544,450
Average West Farmington Assessed Value
$209,300
Average Geauga County Assessed Value
$217,300
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across West Farmington, Geauga County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44491 | $104,760 | $149,325 | $209,300 | $253,525 | $334,270 |
Source: Ownwell
Property Tax Bills Across West Farmington, Geauga County, Ohio
In West Farmington, Ohio, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of the market value. The assessed value is determined by the county assessor in Geauga County, who evaluates factors such as the property's location, size, and condition. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual property tax bill. For homeowners in West Farmington, the median home price is $209,300. Property tax bills can vary significantly, with the 25th percentile at $2,261 and the 75th percentile reaching $3,866. The 90th percentile tax bill is even higher at $4,678. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark for understanding local tax burdens. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the quality of life for residents. Homeowners need to be aware of these factors as they can significantly influence their annual financial planning and overall homeownership costs.
Average West Farmington Tax Bill
$3,195
Average Geauga County Tax Bill
$4,427
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across West Farmington, Geauga County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44491 | $1,661 | $2,261 | $3,195 | $3,866 | $4,678 |
Source: Ownwell