Malinta, Ohio Property Taxes
The median property tax rate in Malinta, OH is 0.74%, considerably lower than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Malinta at $211,070, the typical annual property tax bill reaches $1,586, which is significantly less than the national median of $2,690. Property taxes in Malinta are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Malinta'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 Malinta or another part of Henry County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Malinta, 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 Malinta Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Malinta with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Malinta 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 Malinta, Ohio
Property taxes in Malinta, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Malinta is 0.74%, which is lower than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Malinta set these rates annually, and they can vary significantly across different neighborhoods. Each year, Malinta 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 Malinta's effective property tax rate to other counties in Ohio and the national median. For comparison, the 43535 zip code has the highest median property tax rate of 0.74%, while the 43535 zip code also has the lowest median tax rate of 0.74%. Understanding how these cities compare with Malinta provides valuable insights into the varying tax landscape across Henry County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Malinta Tax Rate
0.74%
Average Henry County Tax Rate
0.78%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Malinta, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43535 | 0.49% | 0.67% | 0.74% | 0.83% | 0.93% |
Source: Ownwell
Property Tax Assessment Values Across Malinta, Ohio
In Malinta, 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 Henry 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 Malinta, 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 zip code with the highest median tax bill is 43535, with a median tax bill of $1586. Being aware of these valuation processes in Malinta helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Malinta Assessed Value
$211,070
Average Henry County Assessed Value
$213,460
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Malinta, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43535 | $82,292 | $141,430 | $211,070 | $295,865 | $537,030 |
Source: Ownwell
Property Tax Bills Across Malinta, Ohio
In Malinta, located in Henry County, OH, property tax bills are calculated based on the assessed value of a home, which is determined by local tax authorities. The assessed value is typically a percentage of the market value, reflecting the property's worth. The tax rate is then applied to this assessed value to determine the final tax bill. Several factors influence the assessed value, including property size, location, and condition. For homeowners in Malinta, the median home price stands at $211,070. The property tax rate in this area is in line with the national median of 0.99%, resulting in varying tax bills. For instance, the 25th percentile tax bill is $1,099, while the 75th percentile reaches $2,334, and the 90th percentile can go up to $3,433. These property taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the quality of life for residents. Homeowners must stay informed about their property's assessed value and any changes in tax rates to manage their finances effectively.
Average Malinta Tax Bill
$1,586
Average Henry County Tax Bill
$1,746
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Malinta, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 43535 | $671 | $1,099 | $1,586 | $2,334 | $3,433 |
Source: Ownwell