Hopedale, Ohio Property Taxes
The median property tax rate in Hopedale, OH is 1.44%, which is higher than the national median of 0.99% but lower than Ohio's state median of 1.80%. With a median home value of $71,770 in Hopedale, the typical annual property tax bill amounts to $927, noticeably below the national median of $2,690. Property taxes in Hopedale are determined based on the tax-assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Hopedale'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 Hopedale or another part of Harrison County, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hopedale, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.44%
Estimate Property Tax Bill
$1,033
Ownwell’s Hopedale Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hopedale with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hopedale 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 Hopedale, Ohio
Property taxes in Hopedale, Ohio, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hopedale is 1.44%, higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Hopedale set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hopedale 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 Hopedale's effective property tax rate to other counties in Ohio and the national median. For comparison, the 43976 zip code has the highest median property tax rate of 1.44%, while the 43976 zip code also has the lowest median tax rate of 1.44%. Understanding how these cities compare with Hopedale provides valuable insights into the varying tax landscape across Harrison County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hopedale Tax Rate
1.44%
Average Harrison County Tax Rate
1.35%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hopedale, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43976 | 0.86% | 1.28% | 1.44% | 1.47% | 1.47% |
Source: Ownwell
Property Tax Assessment Values Across Hopedale, Ohio
In Hopedale, 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 Harrison 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 Hopedale, 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 Hopedale helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Hopedale is $71,770, with the 25th percentile tax bill at $563 and the 75th percentile tax bill at $1,508. The highest and lowest median tax bill is $927 in the 43976 zip code.
Average Hopedale Assessed Value
$71,770
Average Harrison County Assessed Value
$63,430
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hopedale, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43976 | $18,554 | $44,100 | $71,770 | $116,195 | $178,668 |
Source: Ownwell
Property Tax Bills Across Hopedale, Ohio
In Hopedale, OH, property tax bills are determined by assessing the property's market value and applying the local tax rate. The median property tax rate in Hopedale is aligned with Harrison County's rate, which is competitive compared to the national median property tax rate of 0.99%. For a home with a median price of $71,770, the tax bill can vary significantly. At the 25th percentile, homeowners might pay around $563, while those at the 75th percentile could see bills as high as $1,508. For homes at the 90th percentile, the tax bill can reach up to $2,259. Factors influencing the tax bill include property assessments, local tax levies, and any applicable exemptions. Higher property values and fewer exemptions typically result in higher tax bills. For homeowners, understanding these factors is crucial as they directly impact annual financial obligations. By staying informed and exploring potential exemptions, homeowners can better manage their property tax expenses.
Average Hopedale Tax Bill
$927
Average Harrison County Tax Bill
$839
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Hopedale, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43976 | $224 | $563 | $927 | $1,508 | $2,259 |
Source: Ownwell