North Fairfield, Ohio Property Taxes
The median property tax rate in North Fairfield, OH is 1.28%, 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 $91,410 in North Fairfield, the typical annual property tax bill amounts to $1,264, falling below the national median of $2,690. Property taxes in North Fairfield are determined based on the assessed value, which is often less than the market value due to exemptions like those for primary residences and agricultural properties. Navigating North Fairfield's property tax system and leveraging available exemptions can result in substantial yearly savings. Whether you reside in North Fairfield or another part of Huron County, understanding the local property tax nuances can benefit both homeowners and real estate investors.
Last Updated June 14, 2024
North Fairfield, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.28%
Estimate Property Tax Bill
$1,170
$1,086
Ownwell’s NORTH FAIRFIELD Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in NORTH FAIRFIELD with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in NORTH FAIRFIELD 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 Fairfield, Ohio
Property taxes in North Fairfield, Ohio, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in North Fairfield is 1.28%, higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within North Fairfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, North Fairfield 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 Fairfield's effective property tax rate to other counties in Ohio and the national median. For comparison, the 44855 zip code has the highest median property tax rate of 1.28%, while the same zip code also has the lowest median tax rate of 1.28%. Understanding how these cities compare with North Fairfield provides valuable insights into the varying tax landscape across Huron County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average North Fairfield Tax Rate
1.28%
Average Huron County Tax Rate
1.36%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across North Fairfield, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44855 | 0.96% | 1.21% | 1.28% | 1.37% | 1.40% |
Source: Ownwell
Property Tax Assessment Values Across North Fairfield, Ohio
In North Fairfield, 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 Huron 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 Fairfield, 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. For instance, the median home price in North Fairfield is $91,410, with tax bills ranging from $757 at the 25th percentile to $2,321 at the 90th percentile. The highest and lowest median tax bills are both found in the 44855 zip code, each at $1,264. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average North Fairfield Assessed Value
$91,410
Average Huron County Assessed Value
$102,520
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across North Fairfield, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44855 | $8,190 | $46,160 | $91,410 | $129,805 | $174,865 |
Source: Ownwell
Property Tax Bills Across North Fairfield, Ohio
In North Fairfield, Huron County, OH, property tax bills are calculated based on the assessed value of the home, which is a percentage of the market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. For example, with a median home price of $91,410, homeowners can expect tax bills that range significantly. At the 25th percentile, tax bills are around $757, while at the 75th percentile, they rise to $1,690. At the 90th percentile, homeowners might see tax bills as high as $2,321. Several factors influence these amounts, including property size, location, and local tax rates. These taxes fund essential community services like schools, emergency services, and infrastructure. Compared to the national median property tax rate of 0.99%, North Fairfield's rates can be seen as relatively moderate. However, these taxes can still significantly impact homeowners' finances, making it crucial for them to understand how their tax bills are determined and what they are funding.
Average North Fairfield Tax Bill
$1,264
Average Huron County Tax Bill
$1,432
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across North Fairfield, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44855 | $300 | $757 | $1,264 | $1,690 | $2,321 |
Source: Ownwell