Hubbard, Ohio Property Taxes
The median property tax rate in Hubbard, OH is 2.35%, significantly higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Hubbard, the typical annual property tax bill reaches $1,784, exceeding the national median of $2,690. Property taxes in Hubbard 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 Hubbard'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 Hubbard 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
Hubbard, 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 Hubbard Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hubbard with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hubbard 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 Hubbard, Ohio
Property taxes in Hubbard, Ohio, are crucial for funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Hubbard is 2.35%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Hubbard set these rates annually, and they can vary considerably across different neighborhoods. Each year, Hubbard 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 Hubbard's effective property tax rate to other areas in Ohio and the national median. For comparison, the zip code 44425 has the highest median property tax rate of 2.35%, while the same zip code also has the lowest median tax rate of 2.35%. Understanding how these areas compare with Hubbard 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 Hubbard Tax Rate
2.35%
Average Mahoning County Tax Rate
1.98%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hubbard, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44425 | 1.73% | 2.17% | 2.35% | 2.80% | 2.81% |
Source: Ownwell
Property Tax Assessment Values Across Hubbard, Ohio
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Hubbard, Ohio. The market value is the price a willing buyer would pay a willing seller in an open 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 Hubbard, 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 example, the median home price in Hubbard is $76,160, with tax bills ranging from $1,416 at the 25th percentile to $3,779 at the 90th percentile. The highest and lowest median tax bills are both $1,784 in the 44425 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Hubbard Assessed Value
$76,160
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 Hubbard, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44425 | $37,272 | $60,340 | $76,160 | $104,775 | $148,270 |
Source: Ownwell
Property Tax Bills Across Hubbard, Ohio
In Hubbard, located in Mahoning County, OH, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The local tax rate is then applied to this assessed value to determine the final tax bill. For instance, with a median home price of $76,160, homeowners in Hubbard can expect varying tax bills. At the 25th percentile, the tax bill is around $1,416, while at the 75th percentile, it rises to approximately $2,381. The highest tax bills, at the 90th percentile, can reach up to $3,779. Several factors influence these tax bills, including changes in the market value of properties, local government budgets, and specific levies or exemptions that may apply. Compared to the national median property tax rate of 0.99%, the rates in Hubbard reflect the local economic conditions and municipal needs. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Hubbard Tax Bill
$1,784
Average Mahoning County Tax Bill
$1,534
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Hubbard, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44425 | $829 | $1,416 | $1,784 | $2,381 | $3,779 |
Source: Ownwell