Homerville, Ohio Property Taxes
The median property tax rate in Homerville, OH is 1.44%, 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 Homerville at $201,500, the typical annual property tax bill reaches $2,833, exceeding the national median of $2,690. Property taxes in Homerville 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 Homerville'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 Homerville or another part of Medina County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Homerville, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.44%
Estimate Property Tax Bill
$2,902
Ownwell’s Homerville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Homerville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Homerville 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 Homerville, Ohio
Property taxes in Homerville, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Homerville is 1.44%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Homerville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Homerville 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 Homerville's effective property tax rate to other counties in Ohio and the national median. For comparison, the 44235 zip code has the highest median property tax rate of 1.44%, while the same zip code also has the lowest median tax rate of 1.44%. Understanding how these cities compare with Homerville provides valuable insights into the varying tax landscape across Medina County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Homerville Tax Rate
1.44%
Average Medina County Tax Rate
1.53%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Homerville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44235 | 1.22% | 1.37% | 1.44% | 1.51% | 1.53% |
Source: Ownwell
Property Tax Assessment Values Across Homerville, Ohio
In Homerville, 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 Medina 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 Homerville, 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 Homerville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Homerville, the median home price is $201,500, with tax bills ranging from $2,059 at the 25th percentile to $5,312 at the 90th percentile. The highest and lowest median tax bills are both $2,833 in the 44235 zip code.
Average Homerville Assessed Value
$201,500
Average Medina County Assessed Value
$233,850
Average Ohio Assessed Value
$133,400
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Homerville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44235 | $102,482 | $148,840 | $201,500 | $268,050 | $349,818 |
Source: Ownwell
Property Tax Bills Across Homerville, Ohio
In Homerville, located in Medina County, OH, property tax bills are calculated based on the assessed value of your home, which is determined by the county assessor. This assessed value is a percentage of your home's market value. For instance, with a median home price of $201,500, the assessed value is then multiplied by the local tax rate to determine your tax bill. In Homerville, the tax bill can vary significantly. Homeowners in the 25th percentile pay around $2,059 annually, while those in the 75th percentile face bills closer to $3,818. Some homeowners, particularly those in the 90th percentile, might see tax bills as high as $5,312. The highest median tax bill reported in the area is $2,833, which is above the national median property tax rate of 0.99%. These tax bills can significantly impact homeowners, influencing their overall cost of living and financial planning. Understanding these factors is crucial for homeowners to manage their expenses effectively.
Average Homerville Tax Bill
$2,833
Average Medina County Tax Bill
$3,537
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Homerville, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44235 | $1,355 | $2,059 | $2,833 | $3,818 | $5,312 |
Source: Ownwell