Petersburg, Ohio Property Taxes
The median property tax rate in Petersburg, OH is 1.57%, which is considerably higher than the national median of 0.99% but lower than the Ohio state median of 1.80%. With the median home value in Petersburg at $80,110, the typical annual property tax bill reaches $1,210, falling below the national median of $2,690. Property taxes in Petersburg are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Petersburg'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 Petersburg 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
Petersburg, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.57%
Estimate Property Tax Bill
$1,258
$1,167
Ownwell's Petersburg Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Petersburg with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Petersburg to provide an estimated property tax bill. This valuable tool offers insight into potential tax liabilities, helping you plan your finances more effectively. For those interested in more detailed trends, localized information is available for a deeper dive into neighborhood specifics. Your property's assessed value, determined by the county, is crucial for property tax calculations and includes any applicable exemptions.
Property Tax Rates Across Petersburg, Ohio
Property taxes in Petersburg, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Petersburg is 1.57%, significantly higher than the U.S. national median of 0.99%. Local government entities within Petersburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Petersburg 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 Petersburg's effective property tax rate to other counties in Ohio and the national median. For comparison, the 44454 zip code has the highest median property tax rate of 1.57%, while the same zip code also has the lowest median tax rate of 1.57%. Understanding how these cities compare with Petersburg 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 Petersburg Tax Rate
1.57%
Average Mahoning County Tax Rate
1.98%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Petersburg, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44454 | 1.16% | 1.55% | 1.57% | 1.59% | 1.65% |
Source: Ownwell
Property Tax Assessment Values Across Petersburg, Ohio
In Petersburg, 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 Petersburg, 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. The median home price in Petersburg is $80,110, with tax bills ranging from $658 at the 25th percentile to $3,182 at the 90th percentile. The highest and lowest median tax bills, both at $1,210, are found in the 44454 zip code. 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 Petersburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Petersburg Assessed Value
$80,110
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 Petersburg, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44454 | $27,700 | $44,690 | $80,110 | $137,550 | $213,200 |
Source: Ownwell
Property Tax Bills Across Petersburg, Ohio
In Petersburg, property tax bills are calculated based on the assessed value of a home, which is determined by the Mahoning County assessor's office. The assessed value is a percentage of the property's market value, typically recalculated periodically to reflect changes in the real estate market. For example, with a median home price of $80,110, homeowners can expect their property tax bills to vary widely depending on the specific assessed value and applicable tax rate. Several factors influence the final tax bill, including the property’s location within the county, any applicable exemptions, and the specific tax rate set by local taxing authorities. In Mahoning County, the 25th percentile tax bill is $658, while the 75th percentile reaches $2,067, and the 90th percentile hits $3,182. This range shows the variability in tax obligations based on property values and local tax rates. Compared to the national median property tax rate of 0.99%, Petersburg homeowners experience a range of tax burdens, directly impacting their annual expenses and financial planning.
Average Petersburg 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 Petersburg, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44454 | $384 | $658 | $1,210 | $2,067 | $3,182 |
Source: Ownwell