Mccomb, Ohio Property Taxes
The median property tax rate in McComb, Ohio is 1.21%, 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 McComb at $14,160, the typical annual property tax bill is around $182, which is significantly below the national median of $2,690. Property taxes in McComb are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding McComb'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 McComb or another part of Hancock County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mccomb, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.21%
Estimate Property Tax Bill
$171
Ownwell’s McComb Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in McComb with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in McComb 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 Mccomb, Ohio
Property taxes in McComb, Ohio, play a crucial role in funding essential 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 Mccomb 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 Mccomb, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45858 | 1.04% | 1.20% | 1.21% | 1.24% | 1.26% |
Source: Ownwell
Property Tax Assessment Values Across Mccomb, Ohio
In McComb, 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 McComb, 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. The median home price in McComb is $14,160, with tax bills ranging from $104 at the 25th percentile to $1,727 at the 90th percentile. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Mccomb Assessed Value
$14,160
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 Mccomb, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45858 | $4,462 | $8,445 | $14,160 | $61,535 | $224,864 |
Source: Ownwell
Property Tax Bills Across Mccomb, Ohio
In McComb, Hancock County, OH, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in McComb, the median home price is $14,160, which significantly impacts the tax amount. The property tax rate in this region is compared to the national median rate of 0.99%, but local variations can cause differences in individual tax bills. Several factors influence the tax bill, including property location, home value, and local government budget needs. For example, the 25th percentile tax bill in McComb is $104, while the 75th percentile reaches $747, and the 90th percentile can be as high as $1,727. These variations highlight how differing property values and tax rates affect homeowners. Understanding these factors can help homeowners anticipate their tax obligations and plan accordingly.
Average Mccomb Tax Bill
$182
Average Hancock County Tax Bill
$1,839
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Mccomb, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45858 | $54 | $104 | $182 | $747 | $1,727 |
Source: Ownwell