Mc Comb, Hancock County, Ohio Property Taxes
The median property tax rate in Mc Comb, OH is 1.21%, slightly higher than the national median of 0.99% but lower than Ohio's state median of 1.80%. With the median home value in Mc Comb at $141,070, the typical annual property tax bill reaches $1,623, which is below the national median of $2,690. Property taxes in Mc Comb are calculated based on the tax assessed value, generally lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Mc Comb'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 Mc Comb 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
Mc Comb, Hancock County, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.21%
Estimate Property Tax Bill
$1,707
$1,584
Ownwell’s Mc Comb Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mc Comb with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mc Comb 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 Mc Comb, Hancock County, Ohio
Property taxes in McComb, Ohio, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in McComb is 1.21%, higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within McComb set these rates annually, and they can vary significantly across different neighborhoods. Each year, McComb 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 McComb's effective property tax rate to other counties in Ohio and the national median. For comparison, the 45858 zip code has the highest median property tax rate of 1.21%, while the same zip code also has the lowest median tax rate of 1.21%. Understanding how these cities compare with McComb provides valuable insights into the varying tax landscape across Hancock County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mc Comb Tax Rate
1.21%
Average Hancock County Tax Rate
1.24%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mc Comb, Hancock County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45858 | 0.93% | 1.06% | 1.21% | 1.21% | 1.24% |
Source: Ownwell
Property Tax Assessment Values Across Mc Comb, Hancock County, Ohio
In Mc Comb, 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 Hancock 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 Mc Comb, 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 Mc Comb helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 45858, with a tax bill of $1,623, which is above the national median property tax rate of 0.99%.
Property Tax Assessment Values Across Mc Comb, Hancock County, Ohio
Source: Ownwell
$14,160
$122,165
$230,170
Average Mc Comb Assessed Value
$141,070
Average Hancock County Assessed Value
$151,760
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mc Comb, Hancock County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45858 | $45,416 | $95,420 | $141,070 | $213,520 | $334,278 |
Source: Ownwell
Property Tax Bills Across Mc Comb, Hancock County, Ohio
In McComb, located in Hancock County, OH, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the market value of the property. Homeowners in McComb experience a range of property tax bills, with the 25th percentile paying around $1,129 and the 75th percentile paying approximately $2,385. At the 90th percentile, the tax bill can reach up to $3,375. These tax bills are influenced by various factors including the home's assessed value, local tax rates, and any applicable exemptions. For instance, the median home price in McComb is $141,070, and the local tax rate plays a significant role in determining the final tax amount. Compared to the national median property tax rate of 0.99%, the property tax rates in McComb may vary, impacting homeowners differently based on their property's assessed value. This variability underscores the importance of understanding local tax regulations and potential exemptions to manage property tax expenses effectively.
Average Mc Comb Tax Bill
$1,623
Average Hancock County Tax Bill
$1,839
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Mc Comb, Hancock County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45858 | $503 | $1,129 | $1,623 | $2,385 | $3,375 |
Source: Ownwell