Valley City, Ohio Property Taxes
The median property tax rate in Valley City, OH is 1.32%, which is higher than both the national median of 0.99% and Ohio's state median of 1.80%. With a median home value in Valley City of $343,990, the typical annual property tax bill reaches $4,519, significantly exceeding the national median of $2,690. Property taxes in Valley City 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 Valley City'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 Valley City 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
Valley City, Ohio Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.32%
Estimate Property Tax Bill
$4,541
Ownwell’s Valley City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Valley City with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Valley City 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 Valley City, Ohio
Property taxes in Valley City, Ohio, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Valley City is 1.32%, which is considerably higher than both the Ohio state median and the U.S. national median of 0.99%. Local government entities within Valley City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Valley City 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 Valley City's effective property tax rate to other counties in Ohio and the national median. For comparison, the 44280 zip code has the highest median property tax rate of 1.32%, while the same zip code also has the lowest median tax rate of 1.32%. Understanding how these cities compare with Valley City 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 Valley City Tax Rate
1.32%
Average Medina County Tax Rate
1.53%
Average Ohio Tax Rate
1.80%
Average United States Tax Rate
0.99%
Property Tax Rates Across Valley City, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44280 | 1.22% | 1.32% | 1.32% | 1.33% | 1.35% |
Source: Ownwell
Property Tax Assessment Values Across Valley City, Ohio
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Valley City, 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 local 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 Valley City, 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the highest median tax bill in the area is $4519 in the 44280 zip code, while the lowest median tax bill is also $4519 in the same zip code.
Average Valley City Assessed Value
$343,990
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 Valley City, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44280 | $162,630 | $227,810 | $343,990 | $435,610 | $511,910 |
Source: Ownwell
Property Tax Bills Across Valley City, Ohio
In Valley City, property tax bills are calculated based on the assessed value of a home, which is determined by the Medina County Auditor. The assessed value typically represents a percentage of the property's market value. For instance, if the median home price in Valley City is $343,990, the assessed value would be a fraction of this amount. The local tax rate is then applied to this assessed value to determine the annual property tax bill. Several factors influence the tax bill, including property size, location, and any applicable exemptions or abatements. For homeowners, this means that a higher market value or fewer exemptions will result in a higher tax bill. In Valley City, the 25th percentile tax bill is $2,953, while the 75th percentile reaches $5,816, and the 90th percentile can go up to $6,892. These figures highlight the range of property tax obligations that homeowners might face, depending on their property's assessed value and the specific tax rate applied.
Average Valley City Tax Bill
$4,519
Average Medina County Tax Bill
$3,537
Average Ohio Tax Bill
$2,396
Average United States Tax Bill
$2,690
Property Tax Bills Across Valley City, Ohio
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 44280 | $2,108 | $2,953 | $4,519 | $5,816 | $6,892 |
Source: Ownwell