Hopedale, Ohio Property Taxes
The median property tax rate in Hopedale, OH is 2.77%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Hopedale at $63,110, the typical annual property tax bill reaches $1,747, exceeding the national median of $2,690. Property taxes in Hopedale 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 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 the city, understanding 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
2.77%
Estimate Property Tax Bill
$1,748
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, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hopedale is 1.24%, higher than both the Ohio state median of 1.36% 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 1.24%, while the same zip code also has the lowest median tax rate of 1.24%. Understanding how these cities compare with Hopedale provides valuable insights into the varying tax landscape across Jefferson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hopedale Tax Rate
2.77%
Average Jefferson County Tax Rate
2.19%
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 | 2.77% | 2.77% | 2.77% | 2.77% | 2.77% |
Source: Ownwell
Property Tax Assessment Values Across Hopedale, Ohio
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Hopedale, Ohio. 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 Jefferson 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. For instance, the median home price in Hopedale is $63,110, with a median tax bill of $1,747. The zip code 43976 has both the highest and lowest median tax bills at $1,747. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Hopedale Assessed Value
$63,110
Average Jefferson County Assessed Value
$67,215
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 | $63,110 | $63,110 | $63,110 | $63,110 | $63,110 |
Source: Ownwell
Property Tax Bills Across Hopedale, Ohio
In Hopedale, OH, property tax bills are calculated based on the assessed value of a home, which is determined by the local county assessor. The assessed value is a percentage of the market value of the property. Homeowners in Hopedale face a median property tax bill of $1,747, which remains consistent across various percentiles, indicating a uniform tax rate in the region. This is notably higher than the national median property tax rate of 0.99%. Several factors influence the tax bill, including the property's assessed value, local tax rates, and any applicable exemptions. For instance, a home with a median market price of $63,110 would have its tax bill calculated based on its assessed value and the local tax rate. Higher property taxes can impact homeowners by increasing their annual expenses, potentially affecting affordability and long-term financial planning. Understanding how property taxes are calculated helps homeowners in Hopedale manage their budgets more effectively and anticipate future tax obligations.
Average Hopedale Tax Bill
$1,747
Average Jefferson County Tax Bill
$1,517
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 | $1,747 | $1,747 | $1,747 | $1,747 | $1,747 |
Source: Ownwell