New Rumley, Ohio Property Taxes
The median property tax rate in New Rumley, OH is 1.45%, 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 New Rumley at $43,290, the typical annual property tax bill amounts to $628, which is significantly below the national median of $2,690. Property taxes in New Rumley are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as those for primary residences and agricultural land. By understanding New Rumley's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners can achieve substantial annual savings. Whether you're in the heart of New Rumley or another part of Harrison County, gaining insight into the local property tax system is beneficial for both homeowners and real estate investors.
Last Updated June 14, 2024
New Rumley, 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 New Rumley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in New Rumley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in New Rumley 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 New Rumley, Ohio
Property taxes in New Rumley, Ohio, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in New Rumley is 1.45%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within New Rumley set these rates annually, and they can vary significantly across different neighborhoods. Each year, New Rumley 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 New Rumley's effective property tax rate to other counties in Ohio and the national median. For comparison, the 43984 zip code has the highest median property tax rate of 1.45%, while the same zip code also has the lowest median tax rate of 1.45%. Understanding how these cities compare with New Rumley 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 New Rumley Tax Rate
1.45%
Average Harrison County Tax Rate
1.35%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across New Rumley, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43984 | 1.45% | 1.45% | 1.45% | 1.45% | 1.45% |
Source: Ownwell
Property Tax Assessment Values Across New Rumley, Ohio
In New Rumley, 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 New Rumley, 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 New Rumley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 43984 has both the highest and lowest median tax bill at $628, reflecting consistent property tax values across the area.
Average New Rumley Assessed Value
$43,290
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 New Rumley, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43984 | $43,290 | $43,290 | $43,290 | $43,290 | $43,290 |
Source: Ownwell
Property Tax Bills Across New Rumley, Ohio
In New Rumley, property tax bills are calculated based on the assessed value of a home, which is determined by the Harrison County assessor's office. The assessed value is a percentage of the market value of the property. For instance, with a median home price of $43,290, the tax bill for most homeowners falls around $628, which is consistent across the 25th, 75th, and 90th percentiles. This uniform tax bill indicates a stable rate within the area. Factors that influence the tax bill include the property's location, its assessed value, and the local tax rate. The local tax rate in New Rumley is relatively higher compared to the national median property tax rate of 0.99%. This affects homeowners by necessitating a careful consideration of property taxes when budgeting for homeownership. The consistent tax bill across different percentiles suggests a predictable and manageable expense for homeowners, contributing to financial stability and planning.
Average New Rumley Tax Bill
$628
Average Harrison County Tax Bill
$839
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across New Rumley, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43984 | $628 | $628 | $628 | $628 | $628 |
Source: Ownwell