Newton Falls, Mahoning County, Ohio Property Taxes
The median property tax rate in Newton Falls, OH is 1.86%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Newton Falls, the typical annual property tax bill reaches $2,862, exceeding the national median of $2,690. Property taxes in Newton Falls 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 Newton Falls' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Newton Falls 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
Newton Falls, Mahoning County, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.86%
Estimate Property Tax Bill
$3,098
$2,875
Ownwell’s Newton Falls Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Newton Falls with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Newton Falls 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 Newton Falls, Mahoning County, Ohio
Property taxes in Newton Falls, Ohio, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Newton Falls is 1.86%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Newton Falls set these rates annually, and they can vary significantly across different neighborhoods. Each year, Newton Falls 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 Newton Falls' effective property tax rate to other counties in Ohio and the national median. For comparison, the 44444 zip code has the highest median property tax rate of 1.86%, while the same zip code also has the lowest median tax rate of 1.86%. Understanding how these cities compare with Newton Falls 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 Newton Falls Tax Rate
1.86%
Average Mahoning County Tax Rate
1.98%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Newton Falls, Mahoning County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44444 | 1.45% | 1.61% | 1.86% | 1.86% | 1.90% |
Source: Ownwell
Property Tax Assessment Values Across Newton Falls, Mahoning County, Ohio
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Newton Falls, 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 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 Newton Falls, 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 Newton Falls helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 44444 has the highest median tax bill at $2,862, which is also the lowest in the area.
Property Tax Assessment Values Across Newton Falls, Mahoning County, Ohio
Source: Ownwell
$16,915
$99,008
$181,100
Average Newton Falls Assessed Value
$166,565
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 Newton Falls, Mahoning County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44444 | $97,163 | $122,102 | $166,565 | $217,965 | $270,566 |
Source: Ownwell
Property Tax Bills Across Newton Falls, Mahoning County, Ohio
In Newton Falls, located in Mahoning County, OH, property tax bills are calculated based on the assessed value of a home. The county assessor evaluates properties to determine their assessed value, which is then used to calculate the tax bill. This assessed value is typically a percentage of the property's market value. Several factors influence the assessed value, including the home's size, age, location, and any improvements made. Homeowners in Newton Falls face varying tax bills depending on their property's assessed value. For example, the 25th percentile tax bill is $2,032, while the 75th percentile tax bill is $4,055. At the higher end, the 90th percentile tax bill reaches $4,957. Compared to the national median property tax rate of 0.99%, Newton Falls has a competitive tax landscape, though individual bills can differ significantly. The highest and lowest median tax bills in the area are both $2,862, underlining the variability within the region. These property taxes fund essential public services, impacting homeowners' overall cost of living and community resources.
Average Newton Falls Tax Bill
$2,862
Average Mahoning County Tax Bill
$1,534
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Newton Falls, Mahoning County, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44444 | $1,544 | $2,032 | $2,862 | $4,055 | $4,957 |
Source: Ownwell