North Baltimore, Ohio Property Taxes
The median property tax rate in North Baltimore, OH is 1.19%, which is higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With the median home value in North Baltimore at $212,560, the typical annual property tax bill amounts to $2,401, slightly below the national median of $2,690. Property taxes in North Baltimore are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding North Baltimore'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 North Baltimore 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
North Baltimore, Ohio Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
1.8%
Estimate Property Tax Bill
$3,600
Ownwell’s NORTH BALTIMORE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in NORTH BALTIMORE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in NORTH BALTIMORE 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 North Baltimore, Ohio
Property taxes in North Baltimore, Ohio, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in North Baltimore is 1.19%, which is higher than the U.S. national median of 0.99%. Local government entities within North Baltimore set these rates annually, and they can vary significantly across different neighborhoods. Each year, North Baltimore 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 North Baltimore's effective property tax rate to other areas in Ohio and the national median. For comparison, the 45872 zip code has the highest median property tax rate of 1.19%, while the same zip code has the lowest median tax rate of 1.19%. Understanding how these cities compare with North Baltimore 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 North Baltimore Tax Rate
1.19%
Average Hancock County Tax Rate
1.24%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across North Baltimore, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45872 | 1.02% | 1.18% | 1.19% | 1.25% | 1.27% |
Source: Ownwell
Property Tax Assessment Values Across North Baltimore, Ohio
In North Baltimore, 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 North Baltimore, 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 North Baltimore helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $2401, found in the 45872 zip code.
Average North Baltimore Assessed Value
$212,560
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 North Baltimore, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45872 | $121,232 | $151,910 | $212,560 | $313,830 | $338,956 |
Source: Ownwell
Property Tax Bills Across North Baltimore, Ohio
In North Baltimore, Ohio, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is a percentage of the home's market value. For instance, if the median home price is $212,560, the assessed value will be a fraction of this amount. The local tax rate is then applied to the assessed value to determine the property tax bill. Several factors influence the tax bill, including the home's location within Hancock County, property improvements, and any applicable exemptions. Homeowners in North Baltimore experience a range of property tax bills, with the 25th percentile at $1,838 and the 75th percentile at $3,754. For those in the 90th percentile, the tax bill can be as high as $4,097. Compared to the national median property tax rate of 0.99%, North Baltimore's tax rates can significantly impact homeowners, making it essential to understand how these taxes are calculated and what factors might affect them.
Average North Baltimore Tax Bill
$2,401
Average Hancock County Tax Bill
$1,839
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across North Baltimore, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 45872 | $1,600 | $1,838 | $2,401 | $3,754 | $4,097 |
Source: Ownwell