North Benton, Ohio Property Taxes
The median property tax rate in North Benton, OH is 1.39%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in North Benton, the typical annual property tax bill reaches $1,395, which is below the national median of $2,690. Property taxes in North Benton 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 North Benton'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 North Benton 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
North Benton, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.39%
Estimate Property Tax Bill
$1,481
$1,374
Ownwell’s North Benton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in North Benton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in North Benton 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 North Benton, Ohio
Property taxes in North Benton, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in North Benton is 1.39%, notably higher than the U.S. national median of 0.99%. Local government entities within North Benton set these rates annually, and they can vary significantly across different neighborhoods. Each year, North Benton 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 North Benton's effective property tax rate to other areas in Ohio and the national median. For comparison, the 44449 zip code has both the highest and lowest median property tax rate of 1.39%. Understanding how these areas compare with North Benton 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 North Benton Tax Rate
1.39%
Average Mahoning County Tax Rate
1.98%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across North Benton, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44449 | 1.10% | 1.38% | 1.39% | 1.42% | 1.43% |
Source: Ownwell
Property Tax Assessment Values Across North Benton, Ohio
In North Benton, 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 North Benton, 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 North Benton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Mahoning County, the highest median tax bill is $1,395 in the 44449 zip code, which is also the lowest median tax bill in the area.
Average North Benton Assessed Value
$106,540
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 North Benton, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44449 | $24,680 | $57,330 | $106,540 | $158,640 | $198,850 |
Source: Ownwell
Property Tax Bills Across North Benton, Ohio
In North Benton, 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. Homeowners in this area see a range of property tax bills, with the 25th percentile at $741 and the 75th percentile reaching $2,128. The highest median tax bill in the region is $1,395, which is notably higher than the national median property tax rate of 0.99%. Several factors influence the tax bill, including the home's assessed value, local tax rates, and any applicable exemptions or deductions. The assessed value is determined by the county assessor and can fluctuate based on property improvements, market conditions, and neighborhood trends. Higher property taxes can impact homeowners by increasing their monthly mortgage payments if taxes are escrowed, or by requiring a larger annual payment if paid directly. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average North Benton Tax Bill
$1,395
Average Mahoning County Tax Bill
$1,534
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across North Benton, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44449 | $332 | $741 | $1,395 | $2,128 | $2,733 |
Source: Ownwell