Damascus, Mahoning County, Ohio Property Taxes
The median property tax rate in Damascus, OH is 1.55%, notably higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With a median home value of $82,460 in Damascus, the typical annual property tax bill is $1,210, which is below the national median of $2,690. Property taxes here are calculated based on the assessed value, which is often less than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding the property tax system in Damascus, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Damascus or another part of Mahoning County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Damascus, Mahoning County, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.55%
Estimate Property Tax Bill
$1,278
$1,186
Ownwell’s Damascus Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Damascus with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Damascus to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in seeing trends on a neighborhood level, more localized information is available below. 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 Damascus, Mahoning County, Ohio
Property taxes in Damascus, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Damascus is 1.55%, which is significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Damascus set these rates annually, and they can vary significantly across different neighborhoods. Each year, Damascus 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 Damascus's effective property tax rate to other counties in Ohio and the national median. For comparison, the 44619 zip code has the highest median property tax rate of 1.55%, while the same zip code also has the lowest median tax rate of 1.55%. Understanding how these cities compare with Damascus provides valuable insights into the varying tax landscape across Mahoning County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Damascus Tax Rate
1.55%
Average Mahoning County Tax Rate
1.98%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Damascus, Mahoning County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44619 | 1.14% | 1.53% | 1.55% | 1.59% | 1.87% |
Source: Ownwell
Property Tax Assessment Values Across Damascus, Mahoning County, Ohio
In Damascus, 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 Mahoning 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 Damascus, 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 Damascus 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 $1,210, found in the 44619 zip code, while the lowest is also $1,210 in the same zip code.
Property Tax Assessment Values Across Damascus, Mahoning County, Ohio
Source: Ownwell
$16,915
$99,008
$181,100
Average Damascus Assessed Value
$82,460
Average Mahoning County Assessed Value
$80,890
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Damascus, Mahoning County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44619 | $27,659 | $56,888 | $82,460 | $96,765 | $143,814 |
Source: Ownwell
Property Tax Bills Across Damascus, Mahoning County, Ohio
In Damascus, OH, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Damascus is $82,460. Homeowners can expect their tax bills to vary significantly, with the 25th percentile at $858 and the 75th percentile reaching $1,543. For those at the 90th percentile, tax bills can be as high as $2,422. These values reflect the local tax rate applied to the assessed property value. Several factors influence the property tax bill, including the home's assessed value, the local tax rate, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, the tax rate in Mahoning County can lead to higher or lower tax bills depending on the specific circumstances of the property. For homeowners, understanding these factors is crucial as property taxes directly impact annual expenses. Accurate assessments and awareness of potential exemptions can help manage these costs effectively.
Average Damascus Tax Bill
$1,210
Average Mahoning County Tax Bill
$1,534
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Damascus, Mahoning County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44619 | $431 | $858 | $1,210 | $1,543 | $2,422 |
Source: Ownwell