Norton, Ohio Property Taxes
The median property tax rate in Norton, OH is 1.53%, considerably higher than both the national median of 0.99% and the Ohio state median of 1.80%. With the median home value in Norton at $253,400, the typical annual property tax bill reaches $3,607, exceeding the national median of $2,690. Property taxes in Norton 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 Norton'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 Norton 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
Norton, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.53%
Estimate Property Tax Bill
$3,877
$3,598
Ownwell’s Norton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Norton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Norton 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 Norton, Ohio
Property taxes in Norton, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Norton is 1.53%, significantly higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Norton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Norton 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 Norton's effective property tax rate to other areas in Ohio and the national median. For comparison, the zip code 44203 has the highest median property tax rate of 1.53%, while the same zip code also has the lowest median tax rate of 1.53%. Understanding how these areas compare with Norton 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 Norton Tax Rate
1.53%
Average Medina County Tax Rate
1.53%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Norton, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44203 | 1.35% | 1.42% | 1.53% | 1.54% | 1.54% |
Source: Ownwell
Property Tax Assessment Values Across Norton, Ohio
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Norton, 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 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 Norton, 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 Norton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Norton is $253,400. The highest median tax bill is $3,607 in the 44203 zip code, while the lowest median tax bill is also $3,607 in the same zip code. This knowledge can empower property owners to make informed decisions about their property taxes.
Average Norton Assessed Value
$253,400
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 Norton, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44203 | $121,698 | $181,505 | $253,400 | $345,565 | $385,558 |
Source: Ownwell
Property Tax Bills Across Norton, Ohio
In Norton, OH, property tax bills are calculated based on the assessed value of a home, which is determined by the Medina County auditor. The assessed value is a percentage of the market value, and the exact percentage can vary. Once the assessed value is established, local tax rates are applied to calculate the annual property tax bill. Several factors influence the tax bill, including the home's location within Norton, the services provided by the local government, and any applicable exemptions or deductions. Homeowners in Norton can expect to pay property taxes that reflect the median home price of $253,400. For instance, the tax bill at the 25th percentile is around $2,706, while at the 75th percentile, it climbs to approximately $4,980. The highest median tax bill in the area is $3,607, corresponding to the 44203 zip code. These property taxes support essential public services like schools, infrastructure, and emergency services, directly impacting the quality of life for residents. Understanding these factors can help homeowners anticipate their annual tax responsibilities.
Average Norton Tax Bill
$3,607
Average Medina County Tax Bill
$3,537
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Norton, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44203 | $1,793 | $2,706 | $3,607 | $4,980 | $5,761 |
Source: Ownwell