Shreve, Ohio Property Taxes
The median property tax rate in SHREVE, OH is 1.35%, considerably higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With the median home value in SHREVE at $228,660, the typical annual property tax bill reaches $2,847, slightly surpassing the national median of $2,690. Property taxes in SHREVE 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 SHREVE'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 SHREVE 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
Shreve, 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 SHREVE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in SHREVE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in SHREVE 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 Shreve, Ohio
Property taxes in SHREVE, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in SHREVE is 1.35%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within SHREVE set these rates annually, and they can vary significantly across different neighborhoods. Each year, SHREVE 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 SHREVE's effective property tax rate to other counties in Ohio and the national median. For comparison, the 44676 zip code has the highest median property tax rate of 1.35%, while the 44676 zip code also has the lowest median tax rate of 1.35%. Understanding how these cities compare with SHREVE provides valuable insights into the varying tax landscape across Holmes County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Shreve Tax Rate
1.35%
Average Holmes County Tax Rate
1.25%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Shreve, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44676 | 0.76% | 1.15% | 1.35% | 1.38% | 1.39% |
Source: Ownwell
Property Tax Assessment Values Across Shreve, Ohio
In SHREVE, 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 Holmes 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 SHREVE, 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 SHREVE helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $2847 in zip code 44676, while the lowest median tax bill is also $2847 in the same zip code.
Average Shreve Assessed Value
$228,660
Average Holmes County Assessed Value
$211,100
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Shreve, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44676 | $100,208 | $168,942 | $228,660 | $338,828 | $587,418 |
Source: Ownwell
Property Tax Bills Across Shreve, Ohio
In SHREVE, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For instance, in Holmes County, the median home price is $228,660. The tax bills in this region vary significantly, with the 25th percentile at $1,997 and the 75th percentile reaching $3,958, indicating a wide range in property tax burdens. Several factors influence the final tax bill, including property size, location, and any applicable exemptions or deductions. The highest median tax bill in the area is $2,847, which is notably higher than the national median property tax rate of 0.99%. This can significantly affect homeowners by increasing their annual expenses, making it crucial for them to understand how their tax bill is determined and explore potential exemptions to reduce their tax burden.
Average Shreve Tax Bill
$2,847
Average Holmes County Tax Bill
$2,534
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Shreve, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44676 | $1,204 | $1,997 | $2,847 | $3,958 | $5,514 |
Source: Ownwell