Newark, Licking County, Ohio Property Taxes

Name: Property Tax Bills Across Newark, Licking County, Ohio
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Newark, OH effective property tax rate: 1.96%, significantly higher than the national median of 1.02%, but lower than the Ohio state median of 1.80%.
Median Newark, OH home value: $120,100
Median annual Newark, OH tax bill: $2,354, $46 lower than the national median property tax bill of $2,400.

How are property taxes in Licking calculated?

Property taxes in Newark, OH are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Newark’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Newark, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Newark, Licking County, Ohio Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.96%

Estimate Property Tax Bill

$2,354

$2,184

Ownwell’s Newark Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Newark with just two data points. By entering your property's estimated assessed value, our calculator applies Newark’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Licking County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Newark, Licking County, Ohio

Local government entities are responsible for setting tax rates, which can differ significantly within a state. Each county estimates its required budget to provide essential services and divides that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. This process, although influenced by votes and laws, forms the crux of annual tax rate determination.

In Newark, located in Licking County, the effective property tax rate is a reflection of this process. Newark's rate can be compared to other cities in Ohio, where the median property tax rate stands at 1.96%. This is notably higher than the national median property tax rate of 1.02%. Within Ohio, the highest median tax rate reaches 2.45% in the zip code 43056, while the lowest mirrors the state median at 1.96% in 43055.

Understanding these figures is crucial for property owners in Newark and across Ohio. By comparing local rates with state and national figures, property owners can gain insights into their tax liabilities and explore potential savings through appeals or exemptions.

Property Tax Rates Across Newark, Licking County, Ohio

Source: Ownwell

1.80%

2.88%

3.96%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Newark Tax Rate

1.96%

Median Effective Licking County Tax Rate

2.22%

Median Effective Ohio Tax Rate

1.80%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Newark, Licking County, Ohio

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
43055	1.90%	1.96%	1.96%	1.96%	2.13%
43056	0.12%	1.19%	2.45%	2.46%	2.47%

Source: Ownwell

Property Tax Assessment Values Across Newark, Licking County, Ohio

When examining property taxes in Newark, OH, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Licking County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill. Assessment notices: In Licking County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Newark. For example, the median home price in Newark is $120,100, with tax bills ranging significantly across the county. Zip code 43055 has the highest median home price at $120,100.

Property Tax Assessment Values Across Newark, Licking County, Ohio

Source: Ownwell

$7,100

$149,200

$291,300

Median Newark Market Value

$120,100

Median Licking County Market Value

$163,800

Median Ohio Market Value

$133,400

Median United States Market Value

$235,294

Property Tax Assessment Values Across Newark, Licking County, Ohio

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
43055	$48,730	$81,400	$120,100	$171,200	$248,500
43056	$5,300	$11,825	$45,800	$106,700	$234,500

Source: Ownwell

Property Tax Bills Across Newark, Licking County, Ohio

In Newark, located in Licking County, OH, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is a percentage of the market value, and local authorities set the tax rate to meet budgetary needs. Newark’s median property tax bill of $2,356 is slightly below the national median of $2,400, reflecting its housing market dynamics. However, tax bills can vary significantly, with the 25th percentile at $1,570 and the 90th percentile reaching $4,916. These variations highlight the impact of differing home values and tax rates within the area. For homeowners, high property taxes can strain finances, but there are ways to manage these costs. Ownwell offers services to help homeowners appeal their property assessments and identify potential exemptions, potentially lowering their tax bills. By leveraging expert knowledge and local market insights, Ownwell assists homeowners in navigating the complexities of property taxation, ensuring they pay only their fair share.

Property Tax Bills Across Newark, Licking County, Ohio

Source: Ownwell

$142

$5,016

$9,889

Median Newark Tax Bill

$2,354

Median Licking County Tax Bill

$3,689

Median Ohio Tax Bill

$2,396

Median United States Tax Bill

$2,400

Property Tax Bills Across Newark, Licking County, Ohio

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
43055	$904	$1,570	$2,356	$3,368	$4,916
43056	$62	$135	$482	$1,957	$4,660

Source: Ownwell